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Group accounts
The requirements of the Companies Act regarding the preparation of group accounts are based on the company's size.
Small companies: If at the end of a financial year a company subject to the small companies regime is a parent company the directors, as well as preparing individual accounts for the year, may prepare group accounts for the year.
Other companies: Where companies are not subject to the small company regime. If at the end of a financial year the company is a parent company the directors, as well as preparing individual accounts for the year, must prepare group accounts for the year unless the company is exempt from the requirement.
Companies Act group accounts must comprise a consolidated balance sheet and a consolidated profit and loss account which give a true and fair view. Where a parent company prepares Companies Act group accounts, generally, all the subsidiary undertakings must be included.
Introduction
Historical timetable
- Provisions commenced in January 2007
- Provisions commenced in April 2007
- Provisions commenced from 1 October 2007
- Provisions commenced from 6 April 2008
- Provisions commenced from 1 October 2008
- Provisions commenced from 1 October 2009
The Act in depth
General
- Forming a company
- Choosing a name for your company
- Changing the company name
- Registered office
- A company's members
- Shares and share capital
Directors
- Appointment of directors
- General duties of directors
- Directors transactions requiring members approval
- Loans to directors
- Related director agreements
- Directors' service contracts
- Directors' liabilities
- Records of directors meetings
- Company secretary