Companies Act 2014 section 1220

Exemption from filing with Registrar financial statements, etc.

Section 1220 provides an exemption for charitable companies limited by guarantee from the normal requirement to file financial statements with the Companies Registration Office, subject to certain conditions and safeguards.

• A CLG formed for charitable purposes may be exempted by the relevant authority from filing financial statements with the Registrar, either indefinitely or for a limited period
• Where the exemption applies but the CLG is not audit-exempt, the statutory auditors must prepare a special report confirming the audit, which is annexed to the annual return instead of the full financial statements
• The copy of the auditors' report filed with the Registrar must be a true copy with signatures and dates in typeset form, accompanied by a certificate from a director and the company secretary
• Existing guarantee companies that enjoyed an equivalent exemption under the old Companies Act 1963 retain that exemption, but it can be lost if circumstances change or if the relevant authority issues a written declaration removing it