Micro-Entity Accounts Exceptions - on or after 30 September 2013

Community Interest Companies (CIC) and Limited Liability Partnerships (LLP) cannot file Annual Accounts types using the WebFiling service.

Audit Exempt Micro-Entity Accounts must not be filed if the company falls into any of the following categories:

  • A parent company or subsidiary undertaking (unless dormant for the period during which it was a subsidiary) except where:
    • group qualifies as a small group or would qualify if all the bodies corporate in the group were companies; and
    • turnover for the whole group is not more than £6.5 million net (or £7.8 million gross); and
    • group's combined balance sheet total is not more than £3.26 million net (or £3.9 million gross)
  • A public limited company unless the company is dormant.
  • A company where an audit is required by a member or members holding at least 10% of the nominal value of issued share capital or holding 10% of any class of shares; or - in the case of a company limited by guarantee - 10% of its members in number.
  • A company that is:
    • an authorised insurance company, a banking company, an e-money issuer, a MiFID (ie Markets in Financial Instruments Directive) investment firm or a UCITS management company or which carries on insurance market activity, or
    • special register body as defined in section 117(1) of the Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52) or an employers' association as defined in section 122 of that Act or Article 4 of the Industrial Relations (Northern Ireland)

Some flat management companies may have to prepare audited accounts to comply with the terms of their lease. If in doubt, you should seek professional advice.