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Accounts of small and medium-sized groups
3.—(1) The table in section 249(3) of the 1985 Act (qualification of group as small or medium-sized() is amended as follows.
(2) Under the heading “Small group”—
(a)for “Not more than £2.8 million net (or £3.36 million gross)” (aggregate turnover) substitute “Not more than £5.6 million net (or £6.72 million gross)”; and
(b)for “Not more than £1.4 million net (or £1.68 million gross)” (aggregate balance sheet total) substitute “Not more than £2.8 million net (or £3.36 million gross)”.
(3) Under the heading “Medium-sized group”—
(a)for “Not more than £11.2 million net (or £13.44 million gross)” (aggregate turnover) substitute “Not more than £22.8 million net (or £27.36 million gross)”; and
(b)for “Not more than £5.6 million net (or £6.72 million gross)” (aggregate balance sheet total) substitute “Not more than £11.4 million net (or £13.68 million gross)”.
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