Part 15Accounts and reports
Chapter 12Supplementary provisions
Other supplementary provisions
471Meaning of “annual accounts” and related expressions
(1)
In this Part a company's “annual accounts”, in relation to a financial year, means—
(a)
the company's individual accounts for that year (see section 394), and
(b)
any group accounts prepared by the company for that year (see sections 398 and 399).
This is subject to section 408 (option to omit individual profit and loss account from annual accounts where information given in group accounts).
(2)
In the case of an unquoted company, its “annual accounts and reports” for a financial year are—
(a)
its annual accounts,
(b)
the directors' report, and
(c)
the auditor's report on those accounts and the directors' report (unless the company is exempt from audit).
(3)
In the case of a quoted company, its “annual accounts and reports” for a financial year are—
(a)
its annual accounts,
(b)
the directors' remuneration report,
(c)
the directors' report, and
(d)
the auditor's report on those accounts, on the auditable part of the directors' remuneration report and on the directors' report.