Specific content requirements

Detailed provisions relating to the preparation of a company's annual accounts and reports are set out in the Companies Act 2006 (CA 2006) and in various sets of regulations made under CA 2006 which deal with the detailed format and content requirements of a company's accounts and reports. In addition, companies with shares that are publicly traded are subject to further rules and regulations on financial reporting.

For details of the impact of Brexit on corporate reporting, see Practice Note: Brexit—accounts and reports [Archived].

Quoted and unquoted companies

CA 2006 makes a distinction for accounting purposes between quoted and unquoted companies. Unquoted companies are subject to less onerous accounting and reporting obligations than quoted companies. A quoted company is a UK company with securities admitted to trading on the Official List of the London Stock Exchange or an exchange in another EEA state, the New York Stock Exchange or NASDAQ. An unquoted company is any other company.

Content and format of annual accounts and reports

The annual accounts and reports of an unquoted company consist of:

•
its annual accounts
•
the directors’ report

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