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Medium-sized companies may omit certain information from the business review (or strategic report) in their director’s report (that is, analysis using key performance indicators so far as they relate to non-financial information). Also, a medium-sized company which is part of an ineligible group can still take advantage of the exemption from disclosing non-financial key performance indicators in the business review (or strategic report). Medium-sized companies preparing Companies Act accounts may omit disclosure with respect to compliance with accounting standards and related party transactions from the accounts they send to their members.

Medium-sized companies preparing Companies Act accounts may choose to file a slightly reduced version of the profit and loss account (see regulation 4 of The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008). Some subsidiary companies may be exempt from audit where they meet certain conditions for financial years ending on or after 1 October 2012, see our guidance on audit exemption for subsidiary companies for more information.