New Companies Act 2014 – Audit Exemptions


As part of the provisions of the New Companies Act 2014 from June of 2015 (when the law is expected to take effect) there will be greater scope for audit exemptions for certain types of companies. Under the new act Groups and Companies Limited By Guarantee with no Share Capital can avail of Audit Exemption Status if they are under the prescribed threshold. This will reduce the cost and administrative burden of annual audits for certain types of companies as they will no longer be required the legal requirement of complying with an audit. Examples of companies that this may apply to incudes:


  • Charities
  • Members Organisations
  • Sports Organisations
  • Residential Property Management Companies 
  • Clubs
  • Students Unions
  • Members Clubs
  • Subsidiaries
  • Holding Companies


If you are operating in any of these types of companies your organisation may be eligible for Audit Exemption Status for your 2015 accounts. Contact Avid Partners today to enquire as to the likely status of your organisation regarding your next years audit. Call us on 0818 303087 or email us at




Yes Avid Partners have two divisions of the company. We have an accountancy division that handles your day to day financial necessities and we also have an advisory division to assist companies develop their businesses. This can include consultancy, marketing and guidance when required. We can act as a Chairperson for your organisation if required and can also take away some of the day to day pressures that can restrict growth and slow development. Avid Partners can help with both of the critical aspects of a company, keeping costs down as much as possible and growing revenues exponentially. Technology companies need patience in developing their visions and an involved day to day partner is the best way of keeping a good business balance.
It is a common problem for companies who are in a situation where their business is growing in real terms (users, visitors) but sales is not matching the other growth metrics as traditionally sales lags behind growth (Twitter, Linked In, etc). So what do you do? Every business needs access to finance to pay operating costs which gives the company time to develop future revenue streams. Thankfully the situation is getting better with many tech friendly finance options coming on stream such as micro financing, crowd funding and government agencies are also starting to show support interests.
Every company starts out small with very limited resources at the beginning of the project. The key is to make the most from the resources you have and to seek out alliances, support systems and working partners. Start ups face many challenges including access to capital, regulatory requirements, economies of scale. We can help you develop your concept and will assist in every way possible from accountancy and day to day support to advisory services and raising finance. We can assist in a number of ways and have a portfolio of growing small companies that we help on an on-going basis.
  • Excel recruitment
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  • cottage surgery
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