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The Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024
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- UK Statutory Instruments
- 2024 No. 1303
- Part 1
- Regulation 3
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3.—(1) Paragraphs (2) and (3) apply to determine whether a company or group qualifies as a micro-entity or as small or medium-sized under section 382(1A)(1), 383(2A)(2), 384A(2)(3), 465(2) or 466(3) of the Companies Act 2006 in relation to a financial year beginning on or after 6th April 2025.
(2) The company or group is to be treated as having qualified as a micro-entity or as small or medium-sized in any previous year in which it would have so qualified if amendments to the same effect as the amendments made by regulations 9 and 10 had had effect in relation to that year and preceding financial years.
(3) The company or group is to be treated as having met the qualifying conditions to be a micro-entity or to be small or medium-sized in any previous year in which it would have so met the qualifying conditions if amendments to the same effect as the amendments made by regulations 9 and 10 had had effect in relation to that year.
(4) Paragraphs (5) and (6) apply to determine whether a limited liability partnership or group qualifies as a micro-entity or as small or medium-sized under section 382(1A), 383(2A), 384A(2), 465(2) or 466(3) of the Companies Act 2006 as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008(4) in relation to a financial year beginning on or after 6th April 2025.
(5) The limited liability partnership or group is to be treated as having qualified as a micro-entity or as small or medium-sized in any previous year in which it would have so qualified if amendments to the same effect as the amendments made by regulation 11 had had effect in relation to that year and preceding financial years.
(6) The limited liability partnership or group is to be treated as having met the qualifying conditions to be a micro-entity or to be small or medium-sized in any previous year in which it would have so met the qualifying conditions if amendments to the same effect as the amendments made by regulation 11 had had effect in relation to that year.
(1)
Section 382(1A) was inserted by S.I. 2013/3008.
(2)
Section 383(2A) was inserted by S.I. 2013/3008.
(3)
Section 384A was inserted by S.I. 2013/3008.
(4)
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