small company or not? | AccountingWEB

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?


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Small company

George Attazder |
George Attazder's picture

Yes - it is small

Euan MacLennan |
Euan MacLennan's picture


blok |
blok's picture