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General requirements

A company's annual accounts must be audited in accordance with the Companies Act 2006, Pt 16 unless the company is:¹

1. Ìý

   (1)ÌýÌýÌýÌý exempt from audit under the provisions relating to:

2. Ìý
   1. Ìý

      (a)ÌýÌýÌýÌý small companies (see 37A[18]–[19]);

   2. Ìý

      (b)ÌýÌýÌýÌý certain subsidiary companies (see 37A[20]–[21]);

   3. Ìý

      (c)ÌýÌýÌýÌý dormant companies (see 37A[22]); or

3. Ìý

   (2)ÌýÌýÌýÌý exempt from the requirements under the provisions relating to non-profit-making companies subject to public sector audit (see 37A[23]).

A company is not entitled to any such exemption unless its balance sheet contains a statement by the directors to that effect and, in the case of (1) above, unless the balance sheet also contains a statement by the directors to the effect that:²

1. Ìý

   (1)ÌýÌýÌýÌý the members have not required