Does the exempt private company submit audited accounts to the relevant authorities?
No. Exempt private companies are exempted from audit requirements. However, an Annual Return and Certificate by a company limited by shares under Section 197 (1) need to be submitted with The Registrar together with a declaration of solvency OR a set of unaudited accounts, notes to the accounts and director’s report. A set of unaudited accounts must also be submitted to The Inland Revenue Department.
