What is a Confirmation Statement?
HMRC are not the only authority that Limited Companies must report to. Companies House also have their share of filing requirements. One document stands out for transparency and accountability: the confirmation statement (CS01). But what exactly is this statement, and why is it so crucial for companies in the UK?
Decoding the Confirmation Statement
In essence, a confirmation statement is a snapshot of vital company information that limited companies and limited liability partnerships (LLPs) in the UK must submit to Companies House each year. This document serves as a testament to the company's commitment to transparency and ensures that the information held by Companies House remains accurate and up-to-date.
The Components of Clarity
Within the confines of the confirmation statement lies a treasure trove of essential company details, including:
Registered Office Address: The official address of the company's registered office, providing a physical anchor in the corporate landscape.
Director and Member Details: Comprehensive information about directors (for companies) or members (for LLPs), including any recent changes to the roster.
Statement of Capital and Shareholder Information: For companies with share capital, this section outlines the company's share structure and shareholder details, illuminating the intricate web of ownership.
Trading Status and SIC Codes: A glimpse into the company's trading activities, accompanied by Standard Industrial Classification (SIC) codes that decode the nature of its business endeavours.
People with Significant Control (PSC): Insights into individuals or entities wielding significant influence over the company, offering transparency into the inner workings of corporate governance.
Timing is Key
The confirmation statement must be filed at least once a year, within 14 days of the anniversary of the company's incorporation or the date of the last statement filing. This date can be moved earlier where this aids transparency of the affect of any changes that may take place. Failure to meet this deadline can result in penalties and potentially lead to the company's removal from the Companies House register.
Beyond the Confirmation Statement
While the confirmation statement plays a pivotal role in maintaining corporate transparency, it's essential to distinguish it from the annual accounts. Unlike the confirmation statement, which focuses on company information and governance, the annual accounts provide a detailed financial report of the company's fiscal activities.