(1) A parent company qualifies as a medium-sized company in relation to a financial year only if the group headed by it qualifies as a medium-sized group.
(2) A group qualifies as medium-sized in relation to the parent company's first financial year if the qualifying conditions are met in that year.
(3) A group qualifies as medium-sized in relation to a subsequent financial year of the parent company -
(a) if the qualifying conditions are met in that year and the preceding financial year;
(b) if the qualifying conditions are met in that year and the group qualified as medium-sized in relation to the preceding financial year;
(c) if the qualifying conditions were met in the preceding financial year and the group qualified as medium-sized in relation to that year.
(4) The qualifying conditions are met by a group in a year in which it satisfies two or more of the following requirements -
|
1. Aggregate turnover |
Not more than £36 million net (or £43.2 million gross) |
|
2. Aggregate |