If it meets the qualification criteria for the exemption, it may submit unaudited accounts. The Whole . A small company can prepare and submit accounts according to special provisions in the Companies Act 2006 and the relevant regulations. by virtue of, S. 479(5)(c)(d)(e) omitted (1.10.2012 with application in accordance with reg. 3-5, Sch. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. Financials & Accounts as of 31st December 2019 475-481 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 1(2), 22, 25(c); 2020 c. 1, Sch. whether a company qualifies as a small company shall be determined in accordance with section 382(1) to (6), Words in s. 477(1) substituted (1.10.2012 with application in accordance with reg. Your subsidiary may not have to file annual accounts at Companies House if: If you claim exemption from preparing accounts, you do not have to prepare annual accounts for the subsidiarys members or send them to Companies House. Act 2008/1911), Act amendment to earlier affecting provision S.I. 4(b).] . See dormant accounts. There are changes that may be brought into force at a future date. . You A small company which has chosen to not file its profit and loss account, may also choose not to file a copy of the auditors report on their accounts. Dependent on the legislation item being viewed this may include: Click 'View More' or select 'More Resources' tab for additional information including: All content is available under the Open Government Licence v3.0 except where otherwise stated. For financial years beginning before 1 January 2016, the thresholds to claim audit exemption for a small Northern Ireland charitable company remain: Alternatively, for financial years beginning before 1 January 2016, a charity may be partially exempt from the requirement for an audit if there is a suitable accountants report to the accounts and the company meets both the following conditions in respect of a financial year: Northern Ireland charities that want to claim audit exemption for financial years before 1 January 2016 must show the following statements on their balance sheet above the directors signature: Small company accounts must also make the following statement on the balance sheet above the directors signature: These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. For queries about financial services companies which are excluded from the small companies regime, contact the Financial Conduct Authority. We can accept certain digital signatures. without . Companies Legislation; Key Company Law and Statutory Instruments (SIs) Companies Act 2006; PART 16 - AUDIT (s. 475) Chapter 1 - Requirement for Audited Accounts (s. 475) EXEMPTION FROM AUDIT: DORMANT COMPANIES (s. 480) 480 Dormant companies: conditions for exemption from audit para. Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. Section 415A | [ Directors' Report: Small Companies Exemption 2018/1030), regs. You must do this before the filing deadline of the accounts for the period that you wish to change. . . Financials & Accounts as of 31st December 2019 Read Section 480 Dormant Companies: Conditions For Exemption From Audit of Companies Act 2006 C46. Financial years are determined by reference to an accounting reference period that ends on a specified date.