Quote from: pawel7777 on September 16, 2014, 08:39:20 PM

Quote from: Nagle on September 16, 2014, 07:49:05 PM

They need an audit. They're not entitled to the "small company exemption" with assets of US$64 million. Here's the "Companies Act" section to which they refer. They may be able to claim that they were a small company in 2012, and get a year after becoming a large company in 2013 to comply. For 2014, they need a full audit.

They may be entitled, if they have less than 50 employees (very likely) and turnover less than £6.5 million. The section of CA2006 quoted by you says:

Quote

The qualifying conditions are met by a company in a year in which it satisfies two or more of the following requirements

Quote from: Nagle on September 16, 2014, 07:49:05 PM

Also, an annual statement normally contains both a statement of operations and a balance sheet. They just have a balance sheet, and one with too little information. All their liabilities, including customer deposits, are consolidated into one number.

This is worthless.

As a small company they can choose to present abbreviated accounts (and they did) with very limited info.

What I'm wondering is whether company with such activity falls under FCA/PRA regulations...

Quote from: QuestionAuthority on September 16, 2014, 08:26:45 PM

I thought Bitstamp was in the UK? Why is their financial statement in dollars?

UK law allows companies to present statements in their operational currency (for Bitstamp it's USD), they have to convert to GBP for tax purposes though.

Oh, got it, thanks.