From: Peter Saxton 
Newsgroups: uk.finance
Subject: Re: Freelance IT consulting and tax - a question or two
Date: Sun, 20 Aug 2006 14:37:51 +0100

On Sun, 20 Aug 2006 10:00:11 +0100, "Tim"  wrote:

>"Peter Saxton" wrote
>> It is obvious from what I posted that the full
>> accounts have to be prepared and the abbreviated
>> accounts may be filed at Companies House.
>
>Peter, how can you say the above when the
>word "abbreviated" does not appear
>*anywhere* within the (over 300 lines of)
>text which you posted, and the word "full"
>only appears in comparison to a 'summary'?
>
>Whenever you encounter just the two words
>"statutory accounts", *you* seem to read them
>to always mean "*full* statutory accounts",
>even in the case of a small company which is
>allowed to abbreviate their statutory accounts.
>
>Where is your reference to say that the *abbreviated*
>accounts are not the ones being called "statutory"?
>
"4.  Circulation

4261A company's statutory annual accounts, together with the
directors' report must be approved by the board. Those documents,
together with the auditor's report (if applicable), must then be:

-  published; 

-  laid before the shareholders; and

-  filed at Companies House.

It should be noted that, for companies preparing Companies Act
accounts, there is a difference between its statutory accounts and the
accounts which it must prepare to comply with wider accounting
standards. Its statutory accounts consist solely of the profit and
loss account and balance sheet, together with notes to those financial
statements. Wider accounting standards also require a company to
prepare a cash flow statement and a statement of total recognised
gains and losses."

Can you see "statutory accounts" above?

What do "abbreviated accounts" mean to you?

-- 
Peter Saxton from London
peter@petersaxton.co.uk