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Companies Act 2006

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Point in time view as at 01/01/2007. This version of this provision is not valid for this point in time. Help about Status

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Companies Act 2006, Section 475 is up to date with all changes known to be in force on or before 02 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Valid from 06/04/2008

475Requirement for audited accountsU.K.
This section has no associated Explanatory Notes

(1)A company's annual accounts for a financial year must be audited in accordance with this Part unless the company—

(a)is exempt from audit under—

  • section 477 (small companies), or

  • section 480 (dormant companies);

or

(b)is exempt from the requirements of this Part under section 482 (non-profit-making companies subject to public sector audit).

(2)A company is not entitled to any such exemption unless its balance sheet contains a statement by the directors to that effect.

(3)A company is not entitled to exemption under any of the provisions mentioned in subsection (1)(a) unless its balance sheet contains a statement by the directors to the effect that—

(a)the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, and

(b)the directors acknowledge their responsibilities for complying with the requirements of this Act with respect to accounting records and the preparation of accounts.

(4)The statement required by subsection (2) or (3) must appear on the balance sheet above the signature required by section 414.

Modifications etc. (not altering text)

C1S. 475 applied (with modifications) (1.10.2008) by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (S.I. 2008/1911), reg. 33 (as amended (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by S.I. 2012/2301, regs. 1, 20(2))

C2Ss. 475-481 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 11 (with transitional provisions and savings in regs. 7, 9, Sch. 2)

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