This chapter considers the exemptions available to small and medium-sized companies in respect of the accounts to be delivered to the Registrar of Companies. The exemptions available in respect of the annual accounts which are to be presented to members are considered in chapter 31. This chapter reflects SI 1997 No 220, the Companies Act 1985 (Accounts of Small and Medium-sized Companies and Minor Accounting Amendment) Regulations 1997, which were issued to clarify the requirements applicable to small companies. They apply to annual accounts approved on or after 1 March 1997 and to auditors’ reports in respect of those accounts. However, transitional provisions allow the changes to be disregarded for periods ending on or before 24 March 1997; in which case, the previous requirements may be followed.
KeywordsBalance Sheet Parent Company Accounting Standard Small Company Full Financial Statement
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