The annual report for a micro-entity

Every Estonian company prepares an annual report for each financial year and files it with the Commercial Register (RIK). A company that is small enough counts as a micro-entity, and its report can be shorter than the report of a larger company. This lesson explains what a micro-entity report contains. It does not say whether your company is a micro-entity, because that depends on the size limits set in the Accounting Act.

What the report contains

• The balance sheet at the end of the year, with the assets, liabilities and equity.
• The income statement, which is the profit and loss for the year.
• The notes, which explain the accounting methods and any figures that need more detail. A micro-entity uses the shorter form of the notes.

Who signs it

The management of the company prepares the report and the owners approve it. The approval and the signature are recorded in the report, and the RIK filing happens after that.

The deadline

The report is filed within six months of the end of the financial year. For a year that ends on 31 December, the deadline is 30 June of the following year.

How Sapita helps

Sapita prepares the figures for the balance sheet and the income statement from the closed year. It gives you a checklist and the figures helper for the notes. The filing itself is done by you, in the RIK system, and Sapita does not file it.

Check the official source

The size limits, the forms and the filing steps are set by law and by RIK. Check them on the RIK website before you file.