small company

Definition:

in order to file abbreviated accounts with the Registrar of Companies for a particular financial year, a private company is a small company if, in respect of that year and the preceding financial year (or that year alone if it is the company’s first financial year), it satisfies any two or more of the following conditions: (a) its turnover does not exceed £6. 5 million (or a proportionate amount if the financial year is not 12 months); (b) its balance sheet total does not exceed £3. 26 million; (c) its weekly average number of employees during the financial year does not exceed 50.



Contribute:

Add to or refine this definition | Discuss on our forum

Share: