Medium sized companies
Eligibility
TURNOVER Less than £36 million
BALANCE SHEET Less than £18 million
EMPLOYEES Less than 250
To be eligible to prepare and file medium sized company accounts for any given financial year, the company must be or have been medium sized during one or more of the following financial years
If the accounts are for the first year, in that year
For accounts for any other year, in that year and the previous year
If the company fails to qualify in the year for which the accounts are being prepared, in the previous year
The following companies are excluded from being treated as medium sized if at any time during the financial year they are
A public company
Authorised under FSMA2000 to carry out a regulated activity or carry on insurance market activities
A company that carried out insurance market activities
An e-moeny issuer
A member of an ineligible group
A group is ineligible if any of its members are
A traded company
A corporate body whose shares are admitted to trading on a regulated market in an EEA state
A person authorised under FMSA2000 to carry on a regulated activity
A small company that is an authorised insurance company, banking company, e-money issuer, MIFID investment firm or a UCITS management company
A person who carried on insurance market activity
An e-money issuer
Filing requirements
DIRECTORS REPORT Yes
STRATEGIC REPORT Abridged
P&L ACCOUNT Abridged
BALANCE SHEET Abridged
GROUP ACCOUNTS If appropriate
AUDITORS REPORT Yes, if audited
NOTES Yes
Medium sized company accounts must be sent to all members and a copy submitted to the Registrar within 9 months of the financial year end
Medium sized companies may omit certain information from the strategic report, including analysis using KPIs so far as they relate to non financial information
Medium sized companies preparing accounts under the provisions of CA2006 rather than under IAS may omit disclosure with respect to compliance with accounting standards and related party transactions from the accounts they send to their members