The Companies (Revision of Defective Accounts and Reports) Regulations 2008

Small and medium sized companies

15.—(1) This regulation has effect (subject to regulation 19(2)) where the directors have prepared revised accounts under section 454 of the 2006 Act and the company has, prior to the date of revision, delivered to the registrar accounts which are abbreviated accounts within the meaning of section 444(3) and (4) (filing obligations of companies subject to small companies regime) or 445(3) and (4) (filing obligations of medium-sized companies) of that Act.

(2) Where the abbreviated accounts so delivered to the registrar would, if they had been prepared by reference to the revised accounts, not comply with the provisions of the 2006 Act (whether because the company would not have qualified as a small or (as the case may be) medium-sized company in the light of the revised accounts or because the accounts have been revised in a manner which affects the content of the abbreviated accounts), the directors of the company shall cause the company either—

(a) to deliver to the registrar a copy of the revised accounts, together with a copy of the directors’ report and the auditor’s report on the revised accounts, or

(b) (if on the basis of the revised accounts they would be entitled under the 2006 Act to do so) to prepare further abbreviated accounts drawn up in accordance with the provisions of that Act and deliver them to the registrar together with a statement as to the effect of the revisions made.

(3) Where the abbreviated accounts would, if they had been prepared by reference to the revised accounts, comply with the requirements of the 2006 Act, the directors of the company shall cause the company to deliver to the registrar—

(a) a note stating that the annual accounts of the company for the relevant financial year (specifying it) have been revised in a respect which has no bearing on the abbreviated accounts delivered for that year, together with

(b) a copy of any auditor’s report on the revised accounts.

(4) Revised abbreviated accounts or a note under this regulation must be delivered to the registrar within 28 days after the date of revision of the revised accounts.

(5) Sections 451 (default in filing accounts and reports: offences) and 452 (default in filing accounts: court order) of the 2006 Act apply with respect to a failure to comply with the requirements of this regulation as they apply with respect to a failure to comply with the requirements of section 441 of that Act but as if—

(a) the references in section 451(1) and in section 452(1)(a) to “the period for filing those accounts and reports” were references to the period of 28 days referred to in paragraph (4); the references in section 451(1) and (2) to “that period” are to be construed accordingly, and

(b) the references in section 451(3) to “the documents in question” and “this Part” were, respectively, a reference to the documents referred to in paragraph (4) and the provisions of Part 15 of the 2006 Act as applied by these Regulations.