[384A Companies qualifying as micro-entities]
Companies Act 2006 | Legislation

[384A  Companies qualifying as micro-entities]

[(1)     A company qualifies as a micro-entity in relation to its first financial year if the qualifying conditions are met in that year.

(2)     Subject to subsection (3), a company qualifies as a micro-entity in relation to a subsequent financial year if the qualifying conditions are met in that year.

(3)     In relation to a subsequent financial year, where on its balance sheet date a company meets or ceases to meet the qualifying conditions, that affects its qualification as a micro-entity only if it occurs in two consecutive financial years.

(4)     The qualifying conditions are met by

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