Audit and reporting of the company in the UK

Companies in the UK are required to submit annual reports to the Companies Registration Office, which contains the following information:

• turnover threshold; the consolidated balance sheet of the enterprise signed by the appointed participants of the company, the auditor’s report certified by the auditor’s signature (if necessary); notes to the reporting and to the group reporting (if necessary);
• the profit and loss account before the payment of the reward/share of profit to the participants of the company;
• if the amount of profit exceeds 200,000 pounds sterling, the amount that is due to be paid to the participant who owns the largest share in the company’s capital;
• total capital or loans invested by the participants and the aggregate amount of funds written off by participants during the year.

Information on the accounts must be accompanied by the report of the auditor, which should contain the accurate information about the name of the auditor and the date of signing the conclusion (in case the company is subject to mandatory audits).

Under certain circumstances, the subsidiaries of companies may demand exemption from the obligation to prepare audit reports, if the parent company is established in accordance with the laws of one of the member countries of the European Economic Area.

Great Britain's Corporate Law