You may be a parent company requiring the preparation of group accounts for you and your subsidiaries? Typically, you’ll want to engage the services of a financial expert to ensure that the consolidation meets the rules and regulations pertaining to the consolidation of information. At Slaven Jeffcote, we have a wealth of experience in preparing these Group accounts to the required standard.
The requirements of the Companies Act regarding the preparation of group accounts are based on the company’s size. It is important to establish the size of your business in order to check your Group’s eligibility to claim the small group exemption from preparing group accounts. At Slaven Jeffcote, our experts can help you to determine this point but for more information see here.
The Companies Act states that group accounts must comprise of a consolidated balance sheet and a consolidated profit and loss account which give a true and fair view. Where a parent company prepares Companies Act group accounts, generally, all the subsidiary undertakings must be included.
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