Companies will no longer be able to prepare and file ‘abridged’ accounts

Filing of abridged accounts to be phased out

From 1 April 2027, Companies House will change the way that small and micro-entity companies file their accounts.

Currently, small, micro and dormant companies can file what are known as ‘abridged accounts’ with Companies House. These abridged accounts contain a simplified balance sheet and any notes needed to give context to the figures in the balance sheet.

From 2027, these abridged accounts will be replaced with more detailed accounts:

1. Micro-entities will be required to file a copy of their balance sheet and profit and loss account.
2. Small companies will be required to file a copy of the balance sheet, directors’ report, auditor’s report (unless exempt) and profit and loss account.

Companies will no longer be able to prepare and file ‘abridged’ accounts.

This means your micro, small or dormant company will need to prepare far more detailed accounts, including the inclusion of a profit and loss (P&L) report for the first time.

All filing of accounts to be made with commercial software

Another measure brought about by the Economic Crime and Corporate Transparency Act is the desire to modernise and digitise the UK’s filing routes.

From 1 April 2027, all accounts must be filed directly with Companies House using commercial software. All web and paper routes will be closed for accounts filings – but will remain open for other statutory filings.