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Exceptions to Exemptions - Abbreviated Accounts

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Companies, groups and partnerships that cannot submit abbreviated accounts

Some small and medium-sized businesses, limited liability partnerships (LLP) and groups cannot submit abbreviated accounts.

small company cannot submit abbreviated accounts if it is, or was at any time during the financial year:

  • a public company
  • an authorised insurance company, a banking company, an e-money issuer, a Markets in Financial Instruments Directive (MiFID) investment firm or an Undertakings for Collective Investment in Transferable Securities (UCITS) management company
  • a company that carries out an insurance market activity
  • a member of an ineligible group

A group is ineligible if any one of its members is:

  • a public company
  • a corporate body (other than a company) whose shares are traded on a regulated market in any European state
  • a person (other than a small company) who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity
  • a small company that is an authorised insurance company, a banking company, an e-money issuer, a MiFID investment firm or a UCITS management company
  • a person who carries out an insurance market activity

medium-sized company cannot submit abbreviated accounts if it is, or was at any time during the financial year:

  • a public company
  • a company that has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity or that carries on an insurance market activity
  • a member of an ineligible group

A group is ineligible if any of its members are:

  • a public company
  • a corporate body (other than a company) with shares on a regulated market
  • a person (other than a small company) who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity
  • a small company that is an authorised insurance company, a banking company, an e-money issuer, a MiFID investment firm or a UCITS management company
  • a person who carries on insurance market activity

An LLP cannot submit small abbreviated accounts if it is, or was at any time during the financial year:

  • an LLP whose securities are admitted to trading on a regulated market in an European Economic Area (EEA) State
  • an LLP that is, or was, an authorised insurance company, a banking LLP, an e-money issuer, a MiFID investment firm or a UCITS management company
  • carried on insurance market activity
  • a member of an ineligible group

A group is ineligible if any of its members is:

  • a public company
  • a body corporate (other than a company) whose shares are admitted to trading on a regulated market in an EEA State
  • a person (other than a small company or small LLP) who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity
  • a small company or small LLP that is an authorised insurance company, a banking company or banking LLP, an e-money issuer, a MiFID investment firm or a UCITS management company
  • a person who carries on insurance market activity

An LLP cannot submit medium abbreviated accounts if it is, or was at any time during the financial year:

  • an LLP whose securities are admitted to trading on a regulated market in an EEA State
  • an LLP that has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity, or carries on insurance market activity
  • a member of an ineligible group

A group is ineligible if any member is:

  • a public company
  • a body corporate (other than a company) whose shares are admitted to trading on a regulated market
  • a person (other than a small company or small LLP) who has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on a regulated activity
  • a small company or small LLP that is an authorised insurance company, a banking company or banking LLP, an e-money issuer, a MiFID investment firm or a UCITS management company
  • a person who carries on insurance market activity