§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry if he will list the checks which Companies house staff perform upon receipt of annual company accounts.
§ Mr. RedwoodThe basic checks carried out by the Registrar of Companies vary according to the type of accounts filed. For full accounts, these include confirmation that the accounts comprise the company's profit and loss account and balance sheet, the directors' report, the auditors' report and, where appropriate, the company's group accounts. The basic checks are supplemented by such other checks as the registrar considers are appropriate. Companies house is not responsible for the contents of the accounts.
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§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry whether, prior to formulating section 15 of the Companies Act 1989, his Department estimated the average cost of printing a full set of accounts which are normally circulated to shareholders.
§ Mr. RedwoodNo, but my Department's customary prior consultations showed that the proposal to give listed companies the option of providing summary financial statements instead of full reports and accounts was endorsed by a range of public companies and representative organisations.