§ Mr. SheermanTo ask the Secretary of State for Trade and Industry if she will make a statement on the way in which small firms present their accounts, following her recent announcements on audit practice. [71938]
§ Miss Melanie JohnsonI announced on 17 July that I propose to raise the definition of a small company to the current EU maximum, benefiting some 15,000 companies who will no longer have to include a cash flow statement, 1333W and can produce simplified profit and loss account and balance sheet. I also propose that small companies should file their accounts with Companies House: the current option to file abbreviated accounts would be abolished.