The Companies Act 2006 and regulations set out what the directors report of a small companies filed accounts must contain. Unlike larger companies, such a report does not need to contain a business review (or strategic report) or a statement as to the amount that the directors recommend be paid by way of dividend. If the company has taken advantage of the small companies exemption in preparing the directors report it must contain a statement above the director or secretary signature and printed name to that effect.Small companies and the associated subset micro-entities may also claim exemption from an audit. If it meets the qualification criteria for the exemption, it may submit unaudited accounts. See our section on audit exemptions for further information.A small company which has chosen to not file its profit and loss account may also opt not to file a copy of the auditor report within their accounts. In this case they must make the following disclosures in the notes to their accounts which they file with Companies House:

• the auditor name (if the auditor was a firm, the name of the senior statutory auditor)
• whether the auditor report was qualified or unqualified
• and, if the report was qualified, what the qualification was.