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Companies House

Companies House. Using XBRL in Government. Companies House, UK. Companies House in 2008. Providing information 500m website hits 5m document download orders. Filing information . > 2.5m companies . 350,000 incorporations .

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Companies House

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  1. Companies House Using XBRL in Government Companies House, UK

  2. Companies House in 2008 • Providing • information • 500m website hits • 5m document download orders Filing information . > 2.5m companies . 350,000 incorporations . >8m new documents .

  3. 4 ways to file information • By Post • Delivery in Person • WebFilingwww.companieshouse.gov.uk • Software Filing

  4. How are documents filed? Over 7.5 million documents filed in 2007-8: POST IN PERSON SOFTWARE FILING WEBFILING

  5. 3.8m forecast 3m 2.4m 1.6m 0.6m 0.2m 0.4m 2002-3 2004-5 2005-6 2007-8 2008-9 2006-7 2003-4 e-Filing progress

  6. The old way – we wish !

  7. Barriers to e-filing • Contentment with paper • Entrenched “need” for client signature • Stylesheet / Rendering • No tangible incentive to change

  8. Reasons for e-filing • Top reasons: • Ease of Use (top for DIY filers) • Cost (top for accountants) • Others: • Speed • Security • Certainty of Delivery

  9. E-filing of Accounts…………

  10. Audited 13% Dormant 19% Audit Exempt Full 20% Audit Exempt Abbreviated 48% Accounts Types Received Nearly 2m accounts will be filed this year:

  11. Currently enabled Audited 13% Under development Dormant 19% Audit Exempt Full 20% Audit Exempt Abbreviated 48% Accounts Types Enabled

  12. A compelling e-accounts product • Software Filing • WebFiling www.companieshouse.gov.uk

  13. CH Electronic Filing CH Database Presenters submit data to CH Record Accounts Transaction on corporate database XBRL Validation Stack Successful CH Image System XBRL Taxonomy checks CH Business Rule Validation Render XBRL in Stylesheet XML Schema Convert XBRL to TIFF image XML XBRL Instance Documents Transaction result notified to the Presenter Successful/Unsuccessful Journey of an XBRL transaction….

  14. 177,000 WebFiling Software 79,000 11,000 2007-8 2006-7 2005-6 XBRL-Accounts volumes

  15. Who’s filing accounts? COMPANIES OTHERS FORMATION AGENTS ACCOUNTANTS

  16. Customer Insight How? What? Who? Why?

  17. Software Providers Formation Agents Secretarial Accounts Formation Professional Associations Government Bodies Clients Media Influencing Accountants ACCOUNTANCY PRACTICES

  18. Research methods • Satisfaction surveys • Complaints tracking • Focus groups • 1-2-1 relationships • Feedback forms • Usability studies • Quantitative surveys • Data analysis • Cross-government insight

  19. Accounts Production Software

  20. Statutory Accounts Production Software

  21. E-Accounts Working Group

  22. E-Accounts Working Group…….. • Professional Associations • Accounts software providers • Accounting firms • XBRL industry • Companies House • (Note absence of 2.6m companies…!)

  23. Small is also beautiful………. • Agility • Influencers and working level • Open solutions for e-filing of accounts from AP software • Wider contact group to provide input

  24. Issues……….. • Content • Presentation • “One touch” solution – ease of use • Demonstrate benefits

  25. 177,000 WebFiling Software 79,000 11,000 2007-8 2006-7 2005-6 XBRL-Accounts volumes

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