A company must file a set of statutory accounts with Companies House on an annual basis. Those accounts must show a true and fair view and be prepared in accordance with Financial Reporting Standards and in compliance with the Companies Act.
The UK accounting regime is entering yet another period of change with new accounting standards having been published and effective from 2015. These can be implemented early and companies need to consider whether there is an advantage in doing so. There are potentially tax advantages and decisions need to be made about whether to implement the change early.