Companies (1986 Order) (Accounts of Small and Medium-Sized Enterprises and Audit Exemption) (Amendment) Regulations (Northern Ireland) 2004

Accounts of small and medium-sized groups

3.—(1) The table in Article 257(3) of the 1986 Order (qualification of group as small or medium-sized)(1) is amended as follows.

(2) Under the heading “Small group” –

(a) for “Not more than £2·8 million net (or £3·36 million gross)” (aggregate turnover) substitute “Not more than £5·6 million net (or £6·72 million gross)”; and

(b) for “Not more than £1·4 million net (or £1·68 million gross)” (aggregate balance sheet total) substitute “Not more than £2·8 million net (or £3·36 million gross)”.

(3) Under the heading “Medium-sized group” –

(a) for “Not more than £11·2 million net (or £13·44 million gross)” (aggregate turnover) substitute “Not more than £22·8 million net (or £27·36 million gross)”; and

(b) for “Not more than £5·6 million net (or £6·72 million gross)” (aggregate balance sheet total) substitute “Not more than £11·4 million net (or £13·68 million gross)”.

(1)

Article 257 was inserted into the 1986 Order by Article 15(3) of the Companies (Northern Ireland) Order 1990 and was amended by regulation 5 of S.R. 1992 No. 503