Section 400(2)

Exemption is conditional upon compliance with all of the following conditions— the company must be included in consolidated accounts for a larger group drawn up to the same date, or to an earlier date in the same financial year, by a parent undertaking established under the law of any part of the United Kingdom; those accounts must be drawn up and audited, and that parent undertaking's annual report must be drawn up ...— if the undertaking is a company, in accordance with the requirements of this Part of this Act, or, if the undertaking is not a company, the legal requirements which apply to the drawing up of consolidated accounts for that undertaking, or in accordance with UK-adopted international accounting standards; the company must disclose in the notes to its individual accounts that it is exempt from the obligation to prepare and deliver group accounts; the company must state in its individual accounts the name of the parent undertaking that draws up the group accounts referred to above and— the address of the undertaking’s registered office..., or if it is unincorporated, the address of its principal place of business; the company must deliver to the registrar, within the period for filing its accounts and reports for the financial year in question, copies of— together with the auditor's report on them; those group accounts, and the parent undertaking's annual report, any requirement of Part 35 of this Act as to the delivery to the registrar of a certified translation into English must be met in relation to any document comprised in the accounts and reports delivered in accordance with paragraph (e).

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Source: legislation.gov.uk · retrieved 2026-09-04