small company or not?
company was formed 1 August 2010.
business incorporated 1 December 2010.
accounts prepared to 30 September 2011.
POA is 16 months to 30 Sept 2011. Trade is 10 months long.
Turnover for 10 months trade is £6m.
Company needs an audit (assets £4m) but is it small ??
i.e. do I gross up the £6m by 12/10 and fail the medium test or does the long POA protect it from the medium sized threshold?