The unquoted companies regime

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • The unquoted companies regime
  • When the unquoted companies regime applies
  • Annual accounts and reports
  • Revised Shareholders Rights Directive
  • Annual accounts
  • Approval of accounts
  • Directors' report
  • Strategic report
  • Directors’ remuneration report
  • Corporate governance statement
  • More...

The unquoted companies regime

The rules governing annual accounts and reports of unquoted companies are set out in:

  1. Part 15 of the Companies Act 2006 (CA 2006)

  2. the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410 (Large Companies Regulations)

  3. the Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015, SI 2015/980 (2015 Regulations)

This Practice Note deals with the accounting regime as applied to companies under the 2015 Regulations. The 2015 Regulations implemented various changes to the accounting regime for companies and apply in relation to financial periods beginning on or after 1 January 2016.

A company that qualifies for the unquoted companies regime will be subject to less onerous accounting and reporting obligations than a company that falls within the quoted company regime.

For a general overview of the statutory framework for company annual accounts and reports, see Practice Note: Accounts and reports—an outline of the statutory framework.

When the unquoted companies regime applies

An unquoted company is defined in CA 2006 as a company formed and registered under CA 2006 that is not a quoted company (see Practice Note: The quoted companies regime). A quoted company for the purposes of CA 2006, Pt 15 is a company which has equity share capital:

  1. listed on the Official List of the Stock Exchange in accordance with the Financial Services and Markets Act 2000, Pt 6

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