What counts as a small company?

A company is small if it meets at least two of three tests: turnover not more than £15m, balance-sheet total not more than £7.5m, and not more than 50 employees. A small company that is also very small may instead qualify as a micro-entity under FRS 105.

What is the difference between abridged and filleted accounts?

Abridged accounts are prepared in a more summarised form and need the agreement of all members every year. Filleted accounts are the version delivered to Companies House with the profit-and-loss account and directors' report left out. Small company accounts are commonly both abridged and filleted.

Do small companies need an audit?

Most small companies are exempt from audit and file with a statement claiming the exemption. Some are still required to have an audit — for example members holding at least 10% can demand one, and certain regulated companies cannot use the exemption.

Guide

Small company accounts (FRS 102 Section 1A): a guide to filing

If your company is too big to be a micro-entity but still small, you file under FRS 102 Section 1A. This guide explains when you qualify, the choice between full, abridged and filleted accounts, and how to file them with Companies House as free WebFiling for accounts is phased out (software becomes mandatory in April 2028).

Do you qualify as a small company?

A company is small if, for the year, it meets at least two of these three tests:

Test	Small company limit
Annual turnover	not more than £15m
Balance-sheet total	not more than £7.5m
Average employees	not more than 50

If your company is smaller still, you may qualify as a micro-entity and file even simpler accounts under FRS 105. The small-company regime is for companies above the micro thresholds but within the limits above. A few companies are excluded from the small regime (for example public companies and certain financial or regulated businesses).

What is FRS 102 Section 1A?

FRS 102 is the main UK accounting standard; Section 1A is the part that sets reduced disclosures for small companies. In practice it means a proper set of accounts — balance sheet, profit-and-loss account and notes — but with far fewer required disclosures than a larger company faces.

Full, abridged and filleted — what's the difference?

Three terms cause most of the confusion. They aren't alternatives to one another; they describe different choices:

Full — the complete small-company accounts (balance sheet, profit-and-loss account and notes), prepared under Section 1A.
Abridged — a more summarised version of the balance sheet and profit-and-loss account. Every member must agree to abridgement, each year, and a statement to that effect (Companies Act s444(2A)) is included.
Filleted — the version delivered to Companies House with the profit-and-loss account and directors' report left out. Most small companies fillet, so the public record shows the balance sheet and notes only.

So a typical small company files accounts that are both abridged and filleted: summarised, and with the profit figures kept off the public register.

Changing from April 2028: as part of the same reforms, the abridged option is being removed and small and micro companies will have to file a profit-and-loss account (though you'll be able to opt out of it being published). For now, abridged and filleted accounts remain valid, and AccountsWebFiling supports them.

Audit exemption

Most small companies are exempt from audit and file with the required audit-exemption statement on the balance sheet. But the exemption isn't automatic in every case — members holding at least 10% of the shares can require an audit, and some regulated companies can't use it. If in doubt, check your position or take advice.

What you deliver to Companies House

For a filleted small-company filing, Companies House receives the balance sheet and notes, with the audit-exemption and small-companies-regime statements, in the required iXBRL format. The profit-and-loss account and directors' report are prepared for the members but not filed publicly. Filing software produces the correct statements and iXBRL tagging for you.

Deadlines and penalties

Small-company accounts are due on the same timetable as any other private company — normally nine months after your accounting reference date, with automatic penalties for filing late. See the deadlines and penalties guide for the full detail.

How to file small-company accounts online

As Companies House moves to software-only accounts filing (free WebFiling for accounts ends in April 2028), small accounts are filed using software. With AccountsWebFiling you can prepare and file a small-company filing — full or abridged, filleted for the public record:

Choose small company (FRS 102 1A), and full or abridged.
Find your company on the register; details and dates fill in.
Enter your balance sheet figures on a guided form; last year's comparatives can be brought forward from the public record.
Validate against Companies House's own iXBRL checks.
Enter your authentication code and file — then track the result.

File your small-company accounts

How to file your accounts as Companies House WebFiling changes · Micro-entity accounts guide · Dormant company accounts guide

This guide is general information, not professional advice. Size thresholds and rules may change. AccountsWebFiling is not affiliated with Companies House.