Part VIIIAccounts and Audit
CHAPTER IIExemptions, exceptions and special provisions
Small and medium‐sized companies and groups
F1Special provisions for medium‐sized companies254A. F2
(1)
Subject to Article 255A, this Article applies where a company qualifies as a medium‐sized company in relation to a financial yearF3 and its directors prepare Companies Order individual accounts for that year.
(2)
The company's individual accounts for the year need not comply with the requirements of paragraph 36A of Schedule 4 (disclosure with respect to compliance with accounting standards).
F4(2A)
The directors' report for the year need not comply with the requirements of Article 242ZZB(3) (business review to include analysis using key performance indicators) so far as they relate to non-financial information.
(3)
The company may deliver to the registrar a copy of the company's accounts for the year—
(a)
which includes a profit and loss account in which the following items listed in the profit and loss account formats set out in Part I of Schedule 4 are combined as one item under the heading “gross profit or loss”
Items 1, 2, 3 and 6 in Format 1;
Items 1 to 5 in Format 2;
Items A.1, B.1 and B.2 in Format 3;
Items A.1, A.2 and B.1 to B.4 in Format 4;
(b)
which does not contain the information required by paragraph 55 of Schedule 4 (particulars of turnover).
(4)
A copy of accounts delivered to the registrar in accordance with paragraph (3) shall contain a statement in a prominent position on the copy of the balance sheet, above the signature required by Article 241, that the accounts are prepared in accordance with the special provisions of this Part relating to medium‐sized companies.