Summer is coming: pay attention to financial statements

Before you go on holiday, be sure to discuss the financial statements. The general meetings of companies whose financial year ended on 31 December shall deal with financial statements and related documents at the latest by 30 June. The company must publish everything by filing it in the collection of documents of the Commercial Register.

Do not overlook the threat of significant financial sanctions and the possibility of the company being closed by the court, which we have seen happen more than once.

This remains the case even with new rules in place under which regular financial statements for the previous financial year may be used as the basis for profit distribution even after the six-month approval period until the end of the following financial year. We have already written about this change here: http://deltalegal.cz/en/fundamental-change-in-the-distribution-of-profit-for-joint-stock-companies/

Want a worry-free summer? Do not hesitate to contact us. We will be happy to advise you on what to cover at the annual general meeting, to help you arrange it or to assist in preparing the basis for the decision.

For more information, please contact Jiří Absolon, Veronika Chrobok or your contact person in our office.

This document is only a general statement and should not be regarded as legal advice on a particular matter.

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