The lodging of financial statements of a company with the Registrar of Companies. There are penalties for late filing. Companies that meet the statutory definition of a small company or a medium-sized company are permitted to file abbreviated accounts.
A micro-entity is a very small company that meets specific criteria for turnover, net worth, and number of employees, allowing it to present simplified annual accounts under certain regulatory frameworks.
Under UK company law, a small company is a private company satisfying certain criteria related to net worth, turnover, and the number of employees.
SME stands for small or medium-sized enterprise. The term is widely used without a standard definition, varying based on net worth, turnover, profits, or number of employees.
