Company limited by guarantee sets of accounts

You can now create a set of Non-charitable Company limited by guarantee accounts in Sage Final Accounts.

The Company limited by guarantee option is available in the following packs:

You can make this selection when creating a new set of accounts or at any time within Set of Accounts Options > Period Options > Compliance Pack.

The Company limited by guarantee option will:

  1. Update the Cover page to include reference to Company limited by guarantee
  2. Include an optional Limited by guarantee note
  3. Allow you to change the Profit/Loss description to surplus/deficit throughout the set of accounts
  4. Automatically include the relevant iXBRL tag for Company limited by guarantee to ensure a valid submission file is created for HMRC and Companies House.

To edit the Limited by guarantee note

  • 1. From the Accounts Preview menu scroll down to review the amended Limited by guarantee note.
  • 2. Select Edit.
  • 3. Enter text as required.
  • 4. Select Save.

Option to change the Profit/Loss description

This option will become available when the Company is limited by guarantee and will automatically change all instances of profit/loss to surplus/deficit, and ‘profit and loss account’ to ‘income and expenditure account’ throughout the set of accounts.

This option is located in the Data tab > Income statement > Profit/Loss description.

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