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IAI Actuarial Core Principles · Business Finance · Regulation of financial reporting of incorporated entities

Under the Companies Act 2013, which set of documents forms the 'financial statements' of a company that is not a One Person Company, small company or dormant company?

Financial statements comprise the balance sheet, statement of profit and loss, cash flow statement, statement of changes in equity where applicable, and explanatory notes. The directors' report and auditor's report are separate documents, and a trial balance or cash book is only an internal record.

  1. ABalance sheet, statement of profit and loss, cash flow statement, statement of changes in equity (where applicable) and explanatory notesCorrect
  2. BBalance sheet and statement of profit and loss only
  3. CDirectors' report, auditor's report and balance sheet
  4. DBalance sheet, trial balance and cash book
  5. Statement of profit and loss, dividend register and notes on tax

Explanation

The Act defines financial statements to include the balance sheet, the statement of profit and loss, the cash flow statement, a statement of changes in equity where applicable, and any explanatory notes annexed. Cash flow statements are not required for OPCs, small companies or dormant companies, so the first option is right. The directors' report is a separate document and not part of the financial statements.

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