Glossary

Definition of a Small Group of Companies

Clifford McDowell

For accounting periods beginning on or after 01/01/2016 to qualify as small, a group of companies must meet at least two of the following conditions:

  • aggregate turnover must be not more than £10.2 million
  • the aggregate balance sheet total must be not more than £5.1 million
  • the aggregate average number of employees must be not more than 50

For accounting periods beginning before 01/01/2016 the thresholds were:

  • aggregate turnover must be not more than £6.5 million
  • the aggregate balance sheet total must be not more than £3.26 million
  • the aggregate average number of employees must be not more than 50

A small group of companies may also be able to apply for exemptions when filing their accounts with Companies House

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