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KU Childrens Services ABN 89 000 006 137 Financial Report for the Year Ended 31 December 2021Annual Financial Report for the Financial Year Ended 31 December 2021Contents Page Directors Report3Auditors
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How to fill out full year statutory accounts

01
Prepare a balance sheet showing the company's assets, liabilities and equity at the end of the financial year.
02
Create an income statement detailing the company's revenue, expenses and net profit or loss for the year.
03
Include a cash flow statement to show the company's cash inflows and outflows during the year.
04
Prepare notes to the accounts providing additional information on the financial statements.
05
Ensure compliance with relevant accounting standards and regulations when preparing the accounts.

Who needs full year statutory accounts?

01
Any company or organization that is required by law to file annual financial statements with regulatory authorities.
02
Stakeholders such as investors, creditors, and government agencies who use the accounts to assess the financial health and performance of the company.
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Full year statutory accounts are comprehensive financial statements that a company must prepare to provide a true and fair view of its financial performance and position for a complete accounting period, typically a year, in compliance with legal and regulatory requirements.
Generally, all registered companies, including small, medium, and large enterprises, are required to file full year statutory accounts as part of their compliance with national legislation, such as the Companies Act in the UK.
To fill out full year statutory accounts, companies need to collect and organize financial data, including income, expenses, assets, and liabilities. They should follow the relevant accounting standards, complete the prescribed templates, and ensure all necessary disclosures are made before submitting them to the appropriate regulatory authority.
The purpose of full year statutory accounts is to provide stakeholders, including shareholders, creditors, and regulatory bodies, with pertinent information about the company's financial health and performance, ensuring transparency and accountability.
Full year statutory accounts must typically include the balance sheet, profit and loss statement, cash flow statement, notes to the accounts, and a director's report detailing the company's performance and position.
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