Micro entity accounts show p&l now?

[Karimbo]

Saw a couple of accounts on companies house showing their p&l accounts (both were loss making).

Not detailed just turnover, cogs expenses total figures.

My accountant just puts balance sheet on there. Its breaking even, not loss making.

Is it optional / required for p&l or for certain situations only?

 

[Karimbo]

Never mind, got the answer. It's entirely optional.

Prepare annual accounts for a private limited company

Prepare statutory or abridged annual accounts for Companies House, make corrections and amendments, appeal against penalties for filing after the deadline

www.gov.uk

Not sure why they would volunteer the p&l when it's loss making. I wonder if the accountant even asked the client whether they want the p&l to be filed for public viewing. I'm guessing not

 

[Karimbo]

These two businesses I mentioned qualify as micro entities, not small entities. It's mot even optional to send p&l. The p&l isn't even mentioned for micro entities.

 

[ECLon]

This info was published for my business a couple of years back, by the bookkeeper who did the filing.

I was pretty cross about it! But once filed, it cannot be removed without a court order. So, we left it, and there it remains.

Perhaps whoever filed for these small companies was similarly careless and has not intended to publish this information?

 

[AndreasC]

Looks like they filed the P&L accidentally but they are proposing to change the rules shortly that all companies will have to file full accounts (inc P&L) regardless of size

 

[Karimbo]

Looks like they filed the P&L accidentally but they are proposing to change the rules shortly that all companies will have to file full accounts (inc P&L) regardless of size

Seems silly. It seems only in UK where all the directors details and company information is publicly accessible to anyone and everyone all over the world.

Ive tried to look up companies in USA and europe and it seems like you cant even get names of directors most of the time, lets alone a set of abbreviated accounts. I beleive at one time they had full DOB of directors which could be used for indentift fraud.

Having the p&l publicly displayed is pretty disadvantages for small businesses. Anyone can see your p&l and if you're doing well.. Just enter your market and compete with you.

I know I'd want to show as little profit as possible and pay myself more under paye. Even turnover alone is pretty senstive I'd say.