- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (20/01/2007)
- Gwreiddiol (a wnaed Fel)
Version Superseded: 01/10/2007
Point in time view as at 20/01/2007. This version of this provision has been superseded.
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254 .F2—(1) Subject to Article 255A, this Article applies where a company qualifies as a small company in relation to a financial year.
(2) If the company's individual accounts for the year[F3 are Companies Order individual accounts and]
(a)comply with the provisions of Schedule 8, or
(b)fail to comply with those provisions only in so far as they comply instead with one or more corresponding provisions of Schedule 4,
they need not comply with the provisions or, as the case may be, the remaining provisions of Schedule 4; and where advantage is taken of this paragraph, references in[F3 Article 234A] to compliance with the provisions of Schedule 4 shall be construed accordingly.
[F4(3) The company's individual accounts for the year—
(a)may give the total of the aggregates required by heads (a), (c) and (d) of paragraph 1(1) of Schedule 6 (emoluments and other benefits etc. of directors) instead of giving those aggregates individually; and
(b)need not give the information required by—
[F5(ai)Article 239A (disclosure required in notes to annual accounts: particulars of staff);]
(i)paragraph 4 of Schedule 5 (financial years of subsidiary undertakings);
(ii)paragraph 1(2)(b) of Schedule 6 (numbers of directors exercising share options and receiving shares under long term incentive schemes);
(iii)paragraph 2 of Schedule 6 (details of highest paid director's emoluments etc.); or
(iv)paragraph 7 of Schedule 6 (excess retirement benefits of directors and past directors).]
(4) The directors' report for the year need not give the information required by—
[F6(a)Articles 242ZZA(1)(c) (directors' report: amount to be paid as dividend) and 242ZZB (directors' report: business review);]
(b)paragraph 1(2) of Schedule 7 (statement of market value of fixed assets where substantially different from balance sheet amount);
[F3(ba)paragraph 5A of Schedule 7 (disclosures relating to the use of financial instruments);]
(c)paragraph 6 of Schedule 7 (miscellaneous disclosures); or
(d)paragraph 11 of Schedule 7 (employee involvement).
(5) Notwithstanding anything in Article 250(1), the directors of the company need not deliver to the registrar any of the following, namely—
(a)a copy of the company's profit and loss account for the year;
(b)a copy of the directors' report for the year; and
(c)if[F3 they prepare Companies Order individual accounts and] they deliver a copy of a balance sheet drawn up as at the last day of the year which complies with the requirements of Schedule 8A, a copy of the company's balance sheet drawn up as at that day.
(6) Neither a copy of the company's accounts for the year delivered to the registrar under Article 250(1), nor a copy of a balance sheet delivered to the registrar under paragraph (5)(c), need give the information required by—
(a)paragraph 4 of Schedule 5 (financial years of subsidiary undertakings);
(b)paragraph 6 of Schedule 5 (shares of company held by subsidiary undertakings);
(c)Part I of Schedule 6 (directors' and chairman's emoluments, pensions and compensation for loss of office); or
(d)Article 398A(3) (amount of auditors' remuneration).
(7) The provisions of Article 241 as to the signing of the copy of the balance sheet delivered to the registrar apply to a copy of a balance sheet delivered under paragraph (5)(c).
(8) Subject to paragraph (9), each of the following, namely—
(a)accounts prepared in accordance with paragraph (2) or (3),
(b)a report prepared in accordance with paragraph (4), and
(c)a copy of accounts delivered to the registrar in accordance with paragraph (5) or (6),
shall contain a statement in a prominent position on the balance sheet, in the report or, as the case may be, on the copy of the balance sheet, above the signature required by Article 241, 242A or paragraph (7), that they are prepared in accordance with the special provisions of this Part relating to small companies.
(9) Paragraph (8) does not apply where[F7 the directors of the company have taken advantage of the exemption from audit conferred by Article 257AA (dormant companies)].]
F1SR 1997/436, reg. 2
F2mod. SR 1994/133
F3SR 2004/496
F4SR 1997/545
F5Art. 254(3)(b)(ai) inserted (1.4.2006) by Companies (1986 Order) (Investment Companies and Accounting and Audit Amendments) Regulations (Northern Ireland) 2006 (S.R. 2006/137), reg. 12
F6SR 2005/61
F7SR 2001/153
F8Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16 and the repeal being partly in force, as to which see individual Articles (with savings (with adaptations) by Companies Act 2006 (Commencement No. 6, Saving and Commencement Nos. 3 and 5 (Amendment)) Order 2008 (S.I. 2008/674), arts. 2(3), {4}, Sch. 2) and subject to amendments (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 paras. 135, 147, 148 {Sch. 2 Note 1} (with arts. 6, 11, 12) and subject to amendments (6.4.2008) by S.R. 2008/133, {regs. 2, 3}
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