Definition
“Total exemption full” is the label Companies House shows in a company’s filing history when a small company has filed full accounts, rather than abridged or micro-entity accounts, and claimed exemption from audit. The entry reads “Total exemption full accounts made up to” the year-end date. The label describes the type of filing, not the size or health of the business.
What each part of the label means
- “Total exemption” refers to the audit exemption the directors claimed under section 477 of the Companies Act 2006, so no auditor’s report is attached.
- “Full” means the figures were not abridged into fewer headings.
Other labels in the filing history
- “Micro company accounts” for micro-entity accounts
- “Unaudited abridged accounts” for abridged small company accounts
- “Accounts for a dormant company” for dormant accounts
- “Total exemption small company accounts” on some older filings
Anyone searching the public Companies House register can see these labels, so customers, lenders and suppliers can tell what level of detail a company’s accounts contain. What each version contains is covered under types of company accounts.
Related questions
- Does "total exemption full" mean the company is large? No, it means a small company filed full accounts without an audit.
- What is the difference between micro-entity and small company accounts? Micro-entity accounts follow FRS 105 with minimal notes, while small company accounts follow FRS 102 Section 1A with fuller notes.
Related terms
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Audit exemption
Audit exemption allows a qualifying small company, including a micro-entity, to file annual accounts that an independent auditor has not checked.
Read definition -
Small company accounts
Small company accounts are annual accounts prepared under the small companies regime, normally using the accounting standard FRS 102 Section 1A.
Read definition -
Abridged accounts
Abridged accounts are a shortened form of small company accounts in which some balance sheet lines, and optionally some profit and loss lines…
Read definition -
Annual accounts
Annual accounts, also called statutory accounts, are the financial statements a UK limited company prepares at the end of each financial year.
Read definition
