Terminology replacements
Accounts in paragraphs 1(l),1(m),1(n)(ii)(A), and balance-sheet and last profit-and-loss accounts in 1(u)(ii), become financial statements. The replacements accompany a new definition in paragraph 4 for relevant documents referred to in 1(s).
Years ending before 1 July 2015
The document group is directors’ report and statement, auditors’ report, last balance sheet, last profit-and-loss account and account notes. The audit report and audited statement requirements carry the exception where audit-exempt and no auditor report was prepared.
Years ending on or after 1 July 2015
The group becomes directors’ statement, auditors’ report and financial statements. The same audit-exempt/no-report qualification applies to the auditor report and financial-statement audit. The boundary uses financial-year end, not the date someone submits an annual return.
Notification dates
Made on 22 June 2015 and published on 23 June as S383/2015 under section 8(7), the change took effect on 1 July 2015. It describes the historical reporting transition, not every current annual-return exemption.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗