Accounts Requirements - Medium Sized Company/Group | AccountingWEB

Accounts Requirements - Medium Sized Company/Group

I am currently carrying out the Audit of a Company (First Year Audit).  Turnvoer is over £6.5 million and employees numbers are in excess of 50.  Therefore the company is Medium Sized.  In prior year the company was below the audit threshold and turnvoer was circa £2million.  During the year, the company purchased a dormant company for £1, (simply to use that companys name on its product).  Are group/consolidated accounts required even though the subsidiary is Dormant?  Note there are no other subsidiaries.  Additionally, if group accounts are not required, do I have to make a note disclosure explaining why.

Many thanks for your comments in advance. 


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JKnight |

I agree with J Knight, with

Towards excellence |

Group accounts not necessary

johnt27 |