Assistance for Annual Accounts in Spain

We take care of the preparation and presentation of your company’s annual accounts.

Companies and commercial entities with business activity face one of the most important business obligations during the month of July: the preparation and filing of the Annual Accounts with the corresponding Mercantile Register.

Our tax lawyers will guide you through the process step-by-step.

How can a specialist help me?

A professional in the field will prepare and submit the annual accounts in the correct format, address them to the appropriate Commercial Registry and be able to monitor the process from the preparation of the annual accounts to the confirmation of the deposit of the annual accounts by the Commercial Registry in a timely manner.

¨We will be with you each step of the journey.¨

 

What are the Annual Accounts?

The annual accounts are the accounting documents that compile the yearly financial information of a Company in order to give a true and fair view of its assets and liabilities, financial position and profit or loss. They consist mainly of the balance sheet, the profit and loss account and the notes to the financial statements.

Who is obliged to file annual accounts?

As mentioned above, companies must file their annual accounts with the Commercial Registry once a year. The following companies are obliged to file their annual accounts:

  • Limited liability companies (S.L.)
  • Public limited companies (S.A.)
  • Limited joint-stock companies and mutual guarantee companies (“Sociedades comanditarias por acciones y de garantía recíproca”).
  • Pension funds
  • As a general rule, any company that is obliged by law to publish its annual accounts.

Holding shareholders' meetings in the Covid 19 era

The annual accounts must be approved by the shareholders at a shareholders’ meeting. Traditionally, shareholders’ meetings had to be held in person at the company’s registered office with the attendance of the shareholders who, at the end of the meeting, had to sign their names approving the decisions adopted at the meeting. With the outbreak of the Covid19 crisis and the limitation of capacity, as of 3 May 2021, companies will always be able to hold their meetings 100% telematically.

Deadline for presentation of the Annual Accounts

As a general rule, the ordinary period for approval of the annual accounts at the general shareholders’ meeting is six months from the end of the financial year, with one month from the date of the general shareholders’ meeting for approval of the results to file the annual accounts for the financial year in question with the Commercial Registry. This is why most companies whose fiscal year runs from 1 st January to 31 st December must file the annual accounts during the month of July following the financial year in question.

Presentation of the annual accounts after the deadline

If the annual accounts are not filed on time within a maximum of one month from the date of the shareholders’ meeting, the Commercial Registry may impose penalties ranging from 1.200€ to 60.000€ for late filing.

 

Furthermore, if more than one year has elapsed since the end of the financial year without the annual accounts having been filed with the Commercial Registry, the registration page of the Company will be provisionally closed and no documents may be registered in the Commercial Registry.

What are the requirements?

The following documents must be submitted in the appropriate format in order for the Annual Accounts to be accepted by the Companies Registry:

– Submission Form

– General Company Identification Data Sheet

– Certificate of the Minutes of the General Meeting approving the Annual Accounts and distribution of the profit for the financial year.

– The Annual Accounts, which are made up of the Balance Sheet, the Profit and Loss Account, the Annual Report, the Environmental Report, the Own Shares Information Document and the Covid sheet. In addition, if the company is a large company, the statements of changes in equity, the auditors’ report, the management report and the cash flow statement must also be attached.

What is the process of Annual Accounts?

 

Deadlines

 

Obligations

31 DECEMBER

Year-end closing

31 MARCH

Preparation of the Annual Accounts by the administrators

30 APRIL

Legalisation of Accounting Books, Minutes and Members’ Books

30 JUNE

Approval of the Annual Accounts by the Ordinary General Shareholders’ Meeting

25 JULY

Corporate income tax return

30 JULY

Filing of annual accounts with the Mercantile Register

Frequently Asked Questions

The obligation to audit is regulated in Article 263 of the Capital Companies Law, depending on whether the company has exceeded at least two of the following three requirements for two consecutive years:

– That the total amount of the Company’s Assets has exceeded €2.85 million.

– That its annual turnover has exceeded €5.7 million.

– That the average number of employees during the financial year has exceeded 50.

The bank details are requested when registering, so that the Companies Registry can collect the fees corresponding to the filing of the accounts or the legalisation of the books.

The necessary programs are D2 for the accounts and Legalia for the books, both of which can be downloaded from the Colegio de Registradores website.

The annual accounts are sent electronically in less than 10 minutes (during working hours) and the approximate fee for the Companies Registry is 19€+VAT.

Our Story

We are a department formed by qualified legal experts who have been trained in the field of corporate law. We work on these requests every day and it’s our passion. For us, Lexidy is a way of life and what excites us the most is to be able to deliver the happiness and satisfaction of a successful process. We want to help you achieve your goals and dreams.

Héctor Lopez Vazquez

Head of Corporate Department

Madeleine Cadwell

Paralegal

Marta Ametller

Paralegal

Samuel Ortega Vega

Lawyer

Client’s stories

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