ANNUAL COMPLIANCES FOR SMALL COMPANY:
As per Companies Act, 2013 Companies requirements for Companies have been changed in comparison of Companies Act, 1956. For financial year on or after 2014-15 Annual Compliances will be as per Companies Act, 2013. New Annual Forms will be prepared with new Requirements.
|S. No.||Section & Rules||Particular of Compliance|
|1.||Receipt of MBP-1||184(1)
|Every Director of the Company in First Meeting of the Board of Director in each Financial Year shall disclose his interest in other entities.|
|Every Director is required to submit with the Company a fresh MBP-1, whenever there is change in his interest from the earlier given MBP-1.|
|2.||Receipt of DIR- 8||164(2)
DIR – 8
|Every Director of the Company in each Financial Year will file with the Company disclosure of non-disqualification.|
|3.||E- Forms Filing Requirements||92||E-form:
|Annual Return: Every Small Company will file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31stMarch.|
|Financial Statement: Company is required to file its Balance Sheet along with Statement of Profit and Loss Account and Directors’ Report in this form.|
Balance Sheet, Statement of Profit& Loss Account, Directors’R eport, Auditors’ Report and Notice of AGM.
|5.||Directors’ Report||134||Directors’ Report shall be prepared by mention of all the information required for Small Company under Section 134.
|It should be signed by the “Chairperson” authorized by the Board, where he is not so authorized by at least 2 Directors.|
|6.||Circulation of Financial Statement &other relevant Dox||136||Company will send to the members of the Company approved Financial Statement, Directors’ Report and Auditors’ Report at least 21 clear days before the Annual General Meeting.
(Except in case of AGM is called on Shorter Notice)
|101 & SS-II||Every Notice of Annual General Meeting will be prepared as per Section 101 of Companies Act 2013 and Secretarial Standard – II.|
|8.||Sending of Notice of AGM||101 & SS||Notice of Annual General Meeting will be sent to following:
• All Directors, Members, Statutory Auditor.
|9.||Board Meetings||173 &
|Every Company shall hold a minimum number of Two Meetings of its Board of Directors every year in such a manner that Minimum gap between both the meetings not less than 90 (Ninety) days.|
|10.||Appointment of Auditor||139||E-form
|Auditor will be appointed for the 5 (Five) year and form ADT-1 will be filed for 5-year appointment.|
|After that every year in AGM, Shareholder will ratify the Auditor but there is no need to file ADT-1.|
|Above mentioned 10 (Ten) Compliances are mandatory yearly compliances for the Small Private Limited Company. Except above 10 (Ten), there may be event-based compliances for the Small Company.|
Financial Statement: Earlier in Companies Act 1956, Companies were required to prepared (Balance Sheet and Statement of Profit & Loss Account) as a part of Annual Report. But now in Companies Act, 2013 there is a requirement to prepare the following as a part of Financial Statements:
- Balance Sheet and Statement of Profit& Loss Account
- Cash Flow Statement (Except Small Companies and OPC)
- Consolidated Financial Statement.