Statutory Accounts Service

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What Are Statutory Accounts?

A statutory account is a breakdown of a company’s annual financial history, that has to be submitted to both HMRC and Companies House. For example, businesses that trade as limited companies (or limited liability partnerships), must be able to show their annual statutory accounts. Those that are self-employed will need to be able to calculate and evidence their profits when submitting the annual tax return. Lots of companies make the decision to use accountants such as Nordens to deal with their filings. However, the director or sole trader of the business retains full responsibility for ensuring that the correct information is submitted on time.

Why Use Nordens For Your Statutory Accounts?

Each financial year, you will need to submit a set of accounts. Ordinarily, these correlate with the twelve months that lead up to the business’s preceding accounting reference date. The accounts should contain the following:

Notes to the accounts

Directors’ report signed by a secretary or director

Balance sheet signed by a director who represents the board

Profit and loss account

Auditors’ report (unless the business is exempt)

When the directors sign the accounts off and a copy of them is sent to the company members, they should be submitted to Companies House. Current companies need to file their accounts inside 9 months of every accounting reference date. New companies need to file their initial accounts inside 21 months of the date of incorporation. If you don’t meet the deadline, Companies House can take action to close your business down.

Here at Nordens, our world-class chartered accountants are available to make the filing process easier for you. One quick call with us can determine the exact information your company needs to hand over to HMRC and Companies House. Not only can we help you gather all the important information you so urgently need, we can also talk you through the actual filing process and advise you on what to do if you have made an unfortunate mistake. We also help prevent clients from being struck off the register if they have filed their accounts late! Working with us gives you access to an extensive range of top advice that can improve the way you file your accounts.

Our Expert Statutory Account Service

Nordens premium service is designed to support you in your statutory account calculations and formulations.
Our highly qualified ACCA accounting team can handle even the most complex statutory account situations.

Statutory Account Calculation

Statutory Account Filing

HMRC Compliant

Expert ACCA Accounting Advisors

Dedicated Account Manager

Frequently Asked Questions

Here at Nordens, we understand that you want to know more about Statutory Accounts. To keep you well-informed, here’s a list of our most frequently asked questions:


A balance sheet shows the value of all that a business owns, but it also shows what the business owes as well as what is due to be paid. The crucial figures to monitor are the ones showing how much money exists within the business. Also important, are trade amounts payable to the company by its clients (trade debtors), alongside the amount the business must repay to its own suppliers (trade creditors). Balance sheets will also highlight any debts, be they short or long term, and in addition the cost or position of any ongoing loans. These debts will be divided amongst existing creditors, with finances allocated within 12 months and long term borrowings too. If a business has multiple loans to pay back it may not have a lot of extra cash, although this is dependent on the length of time they have to pay the loan back.


Figures by themselves will often only tell one side of the story. A lot of the numbers will have notes associated with them near the end of the account files. These clarify in more detail who is owed money and also where there might be one-off payments made (fines, for example). This offers more perspective to business accounts. For instance, they could highlight just where finances are owed to a company, taxman or bank.


The Directors’ report summarises the forecasts of larger limited companies and any dividends that should be remunerated to its shareholders. Larger businesses use it as a chance to look back over the last 12 months, analyse their economic performance, and look forward to the subsequent year. The report displays the director’s names throughout the year of reporting, as well as the actions of the company and any occasions that could have affected the balance sheet.


The total cash profit that a business makes is not always the surest indication of its condition. This is because there are frequently other expenses to pay for. The cash flow statement displays both the money that is going into a company, and money that is going out. It will normally contain money from working activities, tax charges, dividends paid, capital spending and returns on investment. The cash flow statement is an effective method of observing how prudent a company is financially, because it demonstrates how well the money is handled. Nonetheless, you would have to examine both the cash flow statement and the balance sheet together, to get a truer picture of the company’s financial incomings and outgoings.


Your initial statutory accounts should be submitted 21 months after registering with Companies House. From that point, you will have to file 9 months after the financial year of your business. If your submission is late, then you could possibly face a fine of up to £1,500 – dependant on the length of the delay. If you run a small business, then you won’t need to file a complete set of accounts to Companies House. Rather, you can file a condensed version, which summarises the key points and typically will exclude the profit and loss accounts. The full version will need to be sent to both shareholders and HMRC, alongside your company tax return.

Beyond Accountancy

At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.

Nordens Strategic

Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.

Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.

Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.

Accounting 2 You

Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.

Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.

With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.

Voted as EXCELLENT - 9.9 out of 10 based on 170 reviews

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Chris Dyer

Director - Metro Bank

Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.

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Jamie Brown

Co-Founder - Chicmi Limited

Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.

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Simon Rose

Director - Rose Opticians

I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation

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Rebecca Bossick

Founder & Director - Physio LDN

Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.

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James Aconley

Principal - Pauline Quirke Academy

Great accountants, always available to offer advice. The team have transformed my business.

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Christopher Wilce

Founder - Dataphone

Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.

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Dave Hodges

Director - Linekers

Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!

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Tony Charles

Founder - Foundation Sports Limited

A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.

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Peter Horlock

Managing Director - Prime Time Boilers

I have been with Nordens for many years now and they are a great accountants.

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Simon Cushing

Founder - Vivid Finishes

We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.

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Andrew Martin

Managing Director - AMD Interior Architecture

Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.

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James Robinson

Director - Forma London

Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!

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In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.

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Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!