This statement of accounts summarises the councils transactions for the 200607 financial year and its position at 31st march 2007, the yearend. Bis091488 pdf, 165kb, 32 pages this file may not be suitable for users of assistive technology. Duty to file accounts and reports is up to date with all changes known to be in force on or before 03 may 2020. Total debts net of provisions owed to us dropped from. All accounting provisions for small companies are brought together to make life easier. Group accounts in addition to the main financial statements of the county council, our full accounts for 200607 also include a set of group accounts.
However, for the 200607 statement of accounts, the changes which bring local authority financial reporting more inline with generally accepted accounting practice uk gaap are considered of such overall importance to the readers understanding of the new format that a description of the. Statement of accounts 200607 dover district council. During 20052006 assurance statements were introduced for the councils senior management in order to seek confirmation that internal control systems are in place and are being adhered to. It comprises the main financial statements and associated notes, followed by the collection fund and housing revenue accounts together with relevant notes. Changes that have been made appear in the content and are referenced with annotations. The companies act 2006 c 46 is an act of the parliament of the united kingdom which forms. How to keep books of account as per new companies act. Associated documents are also available to download in pdf format. Dec 21, 2010 evaluation of the companies act 2006, executive summary ref.
The concept of true and fair is retained for small companies and hence small company directors. Evaluation of the companies act 2006, executive summary ref. The companies act 2006 received royal assent on 8th november 2006. The accounts i prepared still refer to the old 1985 companies act. If the company does elect under section 2031, it will need to file a. A guide to directors responsibilities under the companies act 2006. The companies act 2006 the companies act 2006 march 2012 1 of 9 if you are a director of a charity established as a company registered with companies house, you need to be aware of the companies act 2006 the act. Accounts and reports regulations 2015 and the issue of the new financial reporting. The trustees submit their annual report and accounts for the year ended 31 december 2006. It has been prepared in accordance with the code of practice on local authority accounting in the united kingdom a statement of recommended practice 2006 the sorp.
First, there is a requirement to counteract the effect of certain of the transitional provisions. If the company does not elect to file a copy of its register of members, it is not required to notify us of any changes in the members. One of these provisions is the clause setting out the objects of the company. The companies act 2006 was fully implemented on 1 october 2009. The accounts can only be properly understood if the accounting policies, which have been followed in dealing with material items, are explained. Although designed to benefit small businesses through a simplification of many corporate procedures, it will have a substantial impact on the way in which they work. Gdp, at current prices and exchange rates, grew by 3. An act to reform company law and restate the greater part of the enactments relating to companies. Sections 451 and 452 reenact sanctions in section 2422 to 5 of the 1985 act for failing to file accounts and reports within the required periods. The date of commencement of all parts of the companies act 2006 will be october 2008. The accounts are prepared in accordance with the cipfa code of practice on local authority accounting in the united kingdom. More credible calculations, which correct the obvious undervaluation of emerging.
Annual report and summary of accounts 200607 the annual report and summary of accounts has been compiled by central accountancy services. Companies act 2006 schedule 1 sections 254 and 255 connected persons. Companies act 2006 summary of key provisions introduction the aim of the companies act 2006 the act is to simplify and modernise uk company law. Ca 06 is a consolidation of all the company law provisions of ca 85, ca 89 and the. Bis1062 pdf, 125kb, 14 pages this file may not be suitable for users of assistive technology. The main piece of legislation is the companies act 2006 ca 06. The approach to regulation under the companies act 2006 is one of building blocks, the higher the. The companies act 2006 filing details of directors and. Directors responsibilities concerning accounting and reporting. Group accounts in addition to the main financial statements of the county council, our full accounts for 200506 also include a set of group accounts. I have had some abbreviated accounts returned by companies house for the 18 months from 1208 to 31709 saying the accounts refer to a period commencing on or after 6 april 2008 and are therefore subject to the companies act 2006. Companies act in pdf is available for students and professionals. Contents page explanatory foreword 3 statement of responsibilities 9 statement of internal control 10 report of the auditor 17.
Department for business, innovation and skills bis company and partnership law. You are required to file you companys accounts at companies house in accordance with the companies act 2006. Directors general duties under the companies act 2006. There are changes that may be brought into force at a future date. After incorporation, a company, under section 2031 of the act, may elect to file a copy of the register of members. May 2020 edition of my ebook on the companies act, 20 is available for sale from may 4, 2020. It is an artificial person having corporate legal entity distinct from its members. It has been prepared in accordance with the code of practice on local authority accounting in the united kingdom a. Accounting reference periods and accounting reference date. For example, section 28 of the companies act 2006 has the effect of moving certain provisions from the memorandum of an existing company into its articles of association.
Economic environment in 2006, the world economy recorded accelerated growth for the third consecutive year. Income sources include grants, hra income, service fees and charges and net corporate income streams. Companies act individual accounts must comprise a balance sheet as at the last day of the financial year. The time given for filing company accounts at companies house has been reduced. This chapter deals with the accounting for share capital of companies. For a start companies can be formed by one person no need to appoint a company secretary, the memorandum will be much shorter and there will be no need to hold an annual general. Section 393, companies act 2006 section 393 of the companies act 2006 prohibits directors from approving financial statements which do not give a true and fair view. Duty to file accounts and reports is up to date with all changes known to be in force on or before 06 may 2020. Background the companies act has been brought into effect in several stages, the last of which was implemented on 1 october 2009. Filing of accounts the period in which accounts must be filed has been reduced from 10.
Welcome to our summary of accounts and annual report for 200607. Some of the provisions of the act are already in force with the remainder to be implemented in three phases on 1 october 2007, 6 april 2008 and 1 october 2008. First, there is a requirement to counter act the effect of certain of the transitional provisions. Where can i get format for 2006 company act accounts. The companies act 2006 c 46 is an act of the parliament of the united kingdom which forms the primary source of uk company law. These companies will exist in parallel with the traditional 1931 companies act companies and are available as. In july 2004, it had been announced that ecgd would take steps to test the merits of a trading fund. It had the distinction of being the longest act in british parliamentary history. The accounts filing date for a private company has been shortened to nine months after the end of the relevant accounting reference period. The companies act 2006 important changes for email. Swindon borough council statement of accounts 200607 page 6 the following charts analyse the main income sources to the council in 200607, and the gross expenditure on services. Frs 102 and frs 105 example small and micro company accounts. We are producing this as a simple guide to what weve done and how much it cost in 200607. Section 453, which provides a civil penalty for failure to file accounts, restates section 242a of the 1985 act with one change.
The companies act 2006 has seen a reduction in the time allowed for companies to file accounts. We are a district council and our main services are planning, environmental health, housing. Formalities of doing business under the law of england and wales or northern ireland. Statement of recommended practice revised 2005 sorp, applicable accounting standards, and the constitution of the trust. Since then, the prevailing trend of reduced volumes of new business underwritten by ecgd has continued. An act to reform company law and restate the greater part of the enactments.
This service was available via the 1985 act and is maintained for the new act. Key aspects of the act which is meant to reduce costs and red tape will certainly affect your business. This report highlights the city councils strategic aims, some of its achievements in 200607, and also provides. As per new companies act, 20, many new amendments have overcome and hence a company needs to comply with these amendments as those are mandatory w. The companies act 2006 filing details of directors and members. Before the act was introduced companies were allowed ten months to file their accounts at companies house. This report highlights the city councils strategic aims, some of its achievements in 200607, and also provides a summarised version of the 200607 statement of accounts. This new act is the largest single piece of legislation ever passed by the uk parliament, and is the product of eight years of consultation on company law reform. An overview and guide to the consultation process, implementation and evaluation of the companies act 2006, including information on the new regulations amending part 25 of the act. Auditors will be allowed to limit their liability to the company by contract. There are outstanding changes not yet made by the legislation. The council has established processes, which have been developed in order to facilitate policy and decisionmaking.
The 2006 act requires companies to maintain adequate accounting records. This practice note is issued by the department for enterprise in its capacity as registrar of companies under the companies act 2006 the act. Books of accounts section 2 of the continue reading how to keep books of account as per. The companies act 2006 company forms and documents this practice note replaces nmvpn2011 company forms and documents issued on 1st april 2011. Companies act 2006, section 1169 is up to date with all changes known to be in force on or before 01 may 2020. Annual statement of accounts 20052006 explanatory foreword introduction the statement of accounts for the year 20052006 is set out in the following pages. Weve gone through a major set of changes in accounts in order to make them more commercially. References to an interest in shares or debentures 1 introduction 1 the provisions of this schedule have effect for the interpretation of references in sections 254 and 255 directors connected with or controlling a body corporate to an interest in shares or debentures. The implementation of the companies act 2006 was completed on 1 october 2009. In preparing this report the trustees have complied with the charities act 1993, the accounting and reporting by charities. The companies act 2006 new filing requirements companies.