| CRITERIA FOR
FILING AFTER A COMPANY FORMATION
Filing of Financial Statements
Every public company, including an unlimited public company
, and every private company with limited liability trading
for the acquisition of gain by its members is required to
attach to its annual return a copy of its most recent financial
statements.
In the case of a limited company, the 1986 Companies Act lays
down three standards of filing. Public limited companies and
large private limited companies must file full accounts .
A modified filing is required in the case of medium-sized
private limited companies and a more restricted modified filing
is required from small private limited companies.
In the case of a public limited company and a large private
limited company the following must be submitted to the Registrar:
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(a) Balance sheet and profit and loss account
with accompanying notes.
(b) Directors’ report.
(c) Auditors’ report. |
A medium-sized private limited company is required to file
the following with the Registrar:
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(a) Balance sheet and abridged profit and
loss account with accompanying notes.
(b) Directors’ report.
(c) Auditors’ report.
(d) A special auditors’ report containing a specific
statement that the company qualifies for modified filing.
(e) A statement by the directors that the company qualifies
for modified filing. |
A small private limited company is required merely to file
the following:
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(a) Balance sheet and notes in prescribed
abridged form.
(b) A special auditors’ report containing a specific
statement that the company qualifies for modified filing
(c) A statement by the directors that the company qualifies
for modified filing. |
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