Section 448A

The directors of a company are not required to deliver a copy of the company's individual accounts to the registrar in respect of a financial year if— the company is a subsidiary undertaking, it has been dormant throughout the whole of that year, and its parent undertaking is established under the law of any part of the United Kingdom. Exemption is conditional upon compliance with all of the following conditions— all members of the company must agree to the exemption in respect of the financial year in question, the parent undertaking must give a guarantee under section 448C in respect of that year, the company must be included in the consolidated accounts drawn up for that year or to an earlier date in that year by the parent undertaking in accordance with— if the undertaking is a company, 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 UK-adopted international accounting standards, the parent undertaking must disclose in the notes to the consolidated accounts that the directors of the company are exempt from the requirement to deliver a copy of the company's individual accounts to the registrar by virtue of this section, and the directors of the company must deliver to the registrar within the period for filing the company's accounts and reports for that year— a written notice of the agreement referred to in subsection (2)(a), the statement referred to in section 448C(1), a copy of the consolidated accounts referred to in subsection (2)(c), a copy of the auditor's report on those accounts, and a copy of the consolidated annual report drawn up by the parent undertaking.

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