A group that meets two out of three of the following criteria for the current and preceding year, or the two preceding financial years:
Under the Companies Act, a parent company is not required to prepare group accounts for a financial year in which the group headed by that parent qualifies as a small group. A small group may file abbreviated accounts instead of full accounts with the Registrar of Companies.
A group containing a public company, a banking or insurance company, or an authorized person under the Financial Services Act 1986 is ineligible for the exemptions for small groups. Compare medium-sized group.
http://www.companieshouse.gov.uk/about/gbhtml/gba3.shtml#three Further details on filing and audit exemptions from the Companies House website
Subjects: Financial Institutions and Services — Accounting.