Company Formation Specialists

When must I deliver and publish the accounts?

If you are a limited company which is a member of a qualifying partnership, you must attach the partnership accounts to the next accounts which you deliver to Companies House. You must also supply to any person on request:

• the name of each partner required to deliver copies of the partnership accounts to Companies House; and
• the name of each partner incorporated in another EEA member state who is required to publish the partnership accounts in that state.

When a qualifying partnership has its head office in the United Kingdom and each of the partners is:

• an undertaking comparable to a limited company incorporated outside the United Kingdom or other EEA state; or
• an undertaking comparable to an unlimited company or partnership formed under the law of such a country with each of its members a limited or comparable undertaking;

then the partnership must:

make the latest accounts of the partnership available for inspection by any person, without charge, during business hours at the head office of the partnership, together with a certified translation, if the original is not in English; and

each member of the partnership must:

supply to any person on request a copy of the latest accounts of the partnership (together with a translation if the original is not in English). A fee may be charged to cover the administrative cost of supplying the copy, but no more.

Are there any exemptions from the publication rules?

Under regulation 7 of The Partnerships (Accounts) Regulations 2008, members of a qualifying partnership do not have to publish partnership accounts if the partnership is dealt with on a consolidated basis in group accounts prepared by either:

• a member of the partnership which is established under the law of a member state of the European Economic Area (EEA); or
• a parent undertaking of such a member.

In these cases, they must prepare and audit group accounts under the law of the member state in accordance with the Seventh Company Law Directive or international accounting standards.  A note to the group accounts must disclose that they have taken advantage of this exemption.

Are there any penalties for non-compliance?

Yes. Every partner in a qualifying partnership or every director of a company that is a partner may be prosecuted and fined up to £5,000.

What are the audit requirements?

The Partnerships (Accounts) Regulations 2008 contain requirements relating to the appointment and dismissal of auditors, signature of auditors’ reports and disclosure of auditors’ remuneration equivalent to the requirements on companies. 

Community Interest Company Accounts

Community Interest Companies must prepare and deliver to Companies House a ‘community interest company report’ made up to the same date as the accounts, regardless of the size of the company or the exemptions that they have taken advantage of. The report, form CIC34, is available online from www.cicregulator.gov.uk. You must send a fee of £15 with the accounts and report.  

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