Regulation 4 Medium-sized companies: exemptions for Companies Act individual accounts

United Kingdom

(1)

This regulation applies to a company—

(a)

which qualifies as medium-sized in relation to a financial year under section 465 of the 2006 Act M1, and

(b)

the directors of which are preparing Companies Act individual accounts under section 396 of that Act for that year.

F1(2A)

The individual accounts for the year need not comply with paragraph 45 (disclosure with respect to compliance with accounting standards) of Schedule 1 to these Regulations.

(2B)

Paragraph 72 (related party transactions) applies with the modification that only particulars of transactions which have not been concluded under normal market conditions with the following must be disclosed—

(a)

owners holding a participating interest in the company;

(b)

companies in which the company itself has a participating interest; and

(c)

the company's directors.

F2(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Reg. 4(2A)(2B) substituted for reg. 4(2) (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 26(2) (with reg. 3)
F2: Reg. 4(3) omitted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by virtue of The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 26(3) (with reg. 3)

Marginal citations

M1: Section 465 is amended by regulation 4(1) of S.I. 2008/393.