What Annual Accounts Do Companies Need To File in Spain?

If you have a company in Spain, essentially the accounts you are required to file with the Commercial Register (equivalent to Company House in the UK) depend on which category your company comes under. There are 3 different versions for annual account purposes: The version for small to medium-sized companies, the abbreviated version and the normal version. This article will just deal with the requirements for the first version.
The annual accounts that you need to file for a small to medium-sized company include the following: a balance sheet, an income statement or profit and loss account (as it is known in the United Kingdom), a report on changes in the shareholders' equity and notes. The later provides details on such things as the registration details and main activities of the company, accounting principles applied, depreciation methodology used and details of depreciation carried out during the year on different assets tangible and intangible, distribution of results, specific details regarding payments to directors and employees, information on environmental issues,and any other relevant issues that could be considered of important to the shareholders. You will also have to include a certificate signed by the directors approving the accounts and the distribution of profits if any. These reports must be drawn up with clarity, and must present a true and fair view of the net worth, financial position and results of operations of the company.
The balance sheet and income statement should be in the same format from one accounting period to the next, although, in exceptional cases, the format may be changed, but the fact must be indicated in the notes together with the reasons why. Captions in the standard form of accounts may be subdivided, or grouped and the analysis presented in the notes, provided that the overall format is followed and the main headings are disclosed. Comparative figures from the proceeding year must be presented. Prior year figures must be restated to conform with the current year presentation. However, there is no requirement to present comparative figures in the notes. The cash flow statement, or change in position statement, is not required in Spain. Few firms include the cash flow statement in the annual report although, many companies have one that is used by internal management.