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This document provides a template and guidance for preparing dormant company accounts for companies that have not traded and whose only transaction is the issue of subscriber shares.

People Also Ask about

What does a CIC have to file?

A CIC must file with its accounts each year an annual community interest report (form CIC34) which will be placed on the public record at Companies House and copied to the CIC Regulator.

What is an AA02 form?

An AA02 is a form that is used to notify Companies House in the UK that a company is dormant. It is a simplified version of the annual return that can be filed by companies that have not traded during the financial year and have no significant accounting transactions.

Does a CIC need audited accounts?

CICs are subject to the same regulatory requirements as companies, so they are exempt from an audit as long as they meet at least two of the following criteria: Their turnover is less than £10.2m. Their total assets are less than £5.1m. They have less than 50 employees.

Do CIC have to file accounts?

CICs will always need to file a balance sheet and notes whether they opt to prepare 'small' full, 'abridged' or 'micro-entity' accounts. There is very little additional detail on the 'small' full balance sheet format when compared to the 'abridged' or 'micro-entity' balance sheet formats.

What is the format for a dormant account?

Usually, a dormant account format only has a balance sheet. And the balance sheet page is very simple. Typically, your company name and registration number and accounting year-end date must be prominently present.

Do dormant accounts need an accountants report?

There are substantial savings in time and money to be gained by filing dormant accounts as they do not require an accountant to prepare them. You can submit dormant company accounts online using form AA02. To complete this form, you must provide the following information: Company name and registration number.

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What is cic dormant accounts template?

The CIC dormant accounts template is a specific form utilized by companies to report their financial status when they have had no significant transactions during a financial period, indicating they are inactive.

Who is required to file cic dormant accounts template?

Companies that qualify as dormant under the UK Companies Act, which typically means they have had no significant accounting transactions during the financial year, are required to file the CIC dormant accounts template.

How to fill out cic dormant accounts template?

To fill out the CIC dormant accounts template, a company must provide basic information such as its name, registration number, and confirm its dormant status, along with any necessary declarations and signatures as required.

What is the purpose of cic dormant accounts template?

The purpose of the CIC dormant accounts template is to simplify the reporting process for companies that do not engage in significant financial activities, thereby reducing administrative burden and ensuring compliance with legal requirements.

What information must be reported on cic dormant accounts template?

The information required on the CIC dormant accounts template includes the company's name, registration number, confirmation of dormant status, and possibly other details as specified by the governing body overseeing company regulations.