Time for payment of capital fees – applications made by small companies
39.—(1) Schedule 4 shall have effect with respect to the capital fee payable in connection with an application made by or on behalf of a small company.
(2) For the purpose of these Regulations, a company is a small company if, for the financial year before that in which the application is made, the amount of its turnover for the financial year is not more than the amount for the time being specified under the heading “Small company” in section 247(3) (qualification of company as small or medium-sized) of the Companies Act 1985(1); and
(a)its balance sheet total (as defined in section 247(5) of that Act) is not more than the amount for the time being specified under the heading “Small company” in section 247(3) of that Act; or
(b)the average number of persons employed by the company in the financial year before that in which the application is made (determined on a weekly basis) does not exceed the number for the time being specified under the heading “Small company” in section 247(3) of that Act.
C.6. Relevant amendments have been made by section 13(1) of the Companies Act 1989 (c.40) and by S.I. 1992/2452, 1996/189, 2004/16 and 2004/2947. On 1st February 2008 the figures specified in section 247(3) under the heading “small company” applying to turnover, balance sheet total and numbers of employees respectively were, £5.6 million, £2.8 million and 50.