Definition
Filleted accounts is the informal name for a small or micro company’s accounts filed at Companies House without the profit and loss account, and without the directors’ report where one is prepared. Less financial detail then appears on the public register. The shareholders and HMRC still receive the full accounts. The option effectively ends for accounts filed from 1 April 2028.
How filleting works
Company law lets a company in the small companies regime deliver just its balance sheet and notes to Companies House, with the profit and loss account and directors’ report optional. A small company that leaves out the profit and loss account must say so on the balance sheet. “Filleted” is an accountants’ term rather than a legal one.
Filleted vs abridged
Filleted accounts leave whole statements out. Abridged accounts keep them but combine lines into fewer headings, and need every member’s agreement. For today’s options side by side, see what small companies must file compared with micro-entities.
What changes in April 2028
From 1 April 2028, micro-entities and small companies must deliver their profit and loss account to Companies House, with an option to keep it off the public register. Companies House has not yet published how the opt-out will work.
Related questions
- What is changing about company accounts filing in April 2028? Accounts must be filed using software, micro and small companies must deliver a profit and loss account, and abridged accounts end.
- Will my profit and loss account become public in 2028? Not if the company uses the opt-out, although Companies House, HMRC and law enforcement can still see it.
Related terms
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Abridged accounts
Abridged accounts are a shortened form of small company accounts in which some balance sheet lines, and optionally some profit and loss lines…
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Profit and loss account
The profit and loss account (P&L, also called the income statement) shows a company's income, costs and resulting profit or loss for its financial year…
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Micro-entity accounts
Micro-entity accounts are the simplified annual accounts that a company qualifying as a micro-entity can prepare under the accounting standard FRS 105.
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Small company accounts
Small company accounts are annual accounts prepared under the small companies regime, normally using the accounting standard FRS 102 Section 1A.
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iXBRL
iXBRL (inline eXtensible Business Reporting Language) is a digital format that adds machine-readable tags to each figure in a set of accounts while keeping the document…
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