Editing Talk:Arctic Shores
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Note, the balance sheet total means the aggregate of the amounts shown as assets in the company's balance sheet.<ref>https://www.legislation.gov.uk/ukpga/2006/46/section/382</ref> In other words, the relevant amount is total assets, and not net assets. Multiple sources confirm that the balance sheet total refers to the total assets (and not net assets).<ref>https://www.gov.uk/government/publications/limited-liability-partnership-accounts-guidance/llp-accounts#:~:text=the%20balance%20sheet%20total%20must,with%20to%20claim%20audit%20exemption</ref><ref>https://www.menzies.co.uk/helping-you/audit-compliance/audit/audit-exemption-thresholds/#:~:text=Balance%20Sheet%20Total%20,1%20million</ref><ref>https://www.accountingweb.co.uk/business/financial-reporting/small-companies-regime-in-the-spotlight#:~:text=As%20a%20result%2C%20a%20maximum,out%20of%20the%20three%20criteria</ref> | Note, the balance sheet total means the aggregate of the amounts shown as assets in the company's balance sheet.<ref>https://www.legislation.gov.uk/ukpga/2006/46/section/382</ref> In other words, the relevant amount is total assets, and not net assets. Multiple sources confirm that the balance sheet total refers to the total assets (and not net assets).<ref>https://www.gov.uk/government/publications/limited-liability-partnership-accounts-guidance/llp-accounts#:~:text=the%20balance%20sheet%20total%20must,with%20to%20claim%20audit%20exemption</ref><ref>https://www.menzies.co.uk/helping-you/audit-compliance/audit/audit-exemption-thresholds/#:~:text=Balance%20Sheet%20Total%20,1%20million</ref><ref>https://www.accountingweb.co.uk/business/financial-reporting/small-companies-regime-in-the-spotlight#:~:text=As%20a%20result%2C%20a%20maximum,out%20of%20the%20three%20criteria</ref> | ||
The company has 77 employees, and £6 | The company has 77 employees, and £6,197,636 in total assets<ref name=":0" />, and, therefore, Arctic Shores does not satisfy the small companies' regime provision. | ||
Accordingly, the company: | Accordingly, the company: |