Companies Act 2014 section 349

First annual return: exception from requirement to annex statutory financial statements

Section 349 provides an exemption for newly incorporated companies from the requirement to attach statutory financial statements and related documents to their first annual return.

• A newly incorporated company is not required to annex statutory financial statements to its first annual return.
• The exemption also covers the other documents normally required to be annexed under section 347(1).
• This exception applies only to the very first annual return a company must file after incorporation.
• All subsequent annual returns must include the full set of annexed financial statements and documents as required by the Act.