Latest Companies Act 2006 provisions amends accounts-filing procedure
June 2008
The latest raft of Companies Act 2006 provisions on 6 April 2006 could catch a few incorporated charities out when it comes to accounts-filing deadlines because the Charity Commission deadline will still be 10 months but Companies House is moving to nine.
Full calendar months are now used for determining the filing period – a company with an accounting year of 30 November will need to file accounts by 31 August rather than 30 August.
Charitable companies should ensure that their year-end timetable builds in enough time to meet these new deadlines comfortably and that budget holders, finance staff and auditors are fully briefed.
Sudhir Singh of Baker Tilly observed: ‘The long-running campaign of the Charity Commission has exhorted charities to file accounts early even though many still do not do this. If charities miss the deadline the financial penalties are not large, starting at £100, but the real cost is any negative publicity a charity might receive for failing to meet its statutory obligations’.
See also Gareth Morgan article, Getting it right regarding independent examination for charitable companies and James Sinclair-Taylor article on corporate documentation changes.
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