Version Superseded: 31/12/2020
Point in time view as at 06/04/2018. This version of this provision has been superseded.
Companies Act 2006, Section 477 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.
(1)A company that [F1qualifies as a small company in relation to] a financial year is exempt from the requirements of this Act relating to the audit of accounts for that year.
(2)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)For the purposes of this section—
(a)whether a company qualifies as a small company shall be determined in accordance with section 382(1) to (6), F3. . .
(b)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)This section has effect subject to—
section 475(2) and (3) (requirements as to statements to be contained in balance sheet),
section 476 (right of members to require audit),
section 478 (companies excluded from small companies exemption), and
section 479 (availability of small companies exemption in case of group company).
Textual Amendments
F1Words in s. 477(1) substituted (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 (S.I. 2012/2301), regs. 1, 4(a)
F2S. 477(2)(3) omitted (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by virtue of The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 (S.I. 2012/2301), regs. 1, 4(b)
F3S. 477(4)(b) and preceding word omitted (1.10.2012 with application in accordance with reg. 2 of the amending S.I.) by virtue of The Companies and Limited Liability Partnerships (Accounts and Audit Exemptions and Change of Accounting Framework) Regulations 2012 (S.I. 2012/2301), regs. 1, 4(c)
Modifications etc. (not altering text)
C1Ss. 477-479 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. 34 (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(3))
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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