# The Accounts and Audit Regulations 1996, Regulation 6: Statement of accounts


(1) A body to which paragraph (3) applies shall prepare in accordance with proper practices a statement of accounts for each period which shall include the following—
(a) an explanatory introduction;
(b) summarised statements of the income and expenditure of each fund in relation to which the body is required by any statutory provision to keep a separate account;
(c) a summarised statement of capital expenditure, showing the sources of finance of the total capital expenditure in the period;
(d) a statement of the accounting policies adopted, drawing attention to any changes of policy which have a significant effect on the results shown by the statement of accounts;
(e) a consolidated revenue account;
(f) a consolidated balance sheet;
(g) a consolidated cash flow statement;
(h) notes to the accounts which include the information referred to in paragraph (2)
and, subject to paragraph (6) below, in relation to amounts shown in pursuance of sub-paragraphs (b), (c), (e), (f), and (g) shall show any corresponding amounts for the immediately preceding financial year.
(2) Notes to the accounts required by paragraph (1) above shall include the number of employees in the period to which the accounts relate whose remuneration fell in each bracket of a scale in multiples of £10,000, starting with £40,000. For this purpose “remuneration” means all amounts paid to or receivable by an employee and includes sums due by way of expenses allowance (so far as those sums are chargeable to United Kingdom income tax), and the estimated money value of any other benefits received by an employee otherwise than in cash.
(3) This paragraph applies to the following bodies:
(a) a London borough council, a county council or a district council in England;
(b) a county council or a county borough council in Wales;
(c) the Council of the Isles of Scilly;
(d) a joint authority and an authority established by the Waste Regulation and Disposal (Authorities) Order 1985;
(e) any committee of a body mentioned in sub-paragraph (a), (b) or (d) above which is required to keep separate accounts;
(f) any joint committee of two or more bodies mentioned in sub-paragraph (a), (b) or (d) above;
(g) the Broads Authority;
(h) a police authority established under section 3 of the Police Act 1964;
(i) any fire authority constituted by a combination scheme;
(j) a National Park authority.
(k) a probation committee, except the committee for the inner London probation area.
(4) Where in relation to a council for a parish or community, or a parish meeting of a parish not having a separate council, the budgeted income for the relevant financial period is, and for each of the two immediately preceding financial periods was, £500,000 or more, the requirements of paragraphs (1) and (2) above shall apply to that council, or the chairman of the meeting, as the case may be, in respect of that period.
(5) The Common Council of the City of London shall in relation to the accounts referred to in section 12(3) of the 1982 Act for each period prepare in accordance with proper practices a statement of accounts including—
(a) a summarised statement of capital expenditure in relation to each of the funds mentioned in that subsection, differentiated in respect of different services and showing the sources of finance of the years total capital expenditure defrayed in the period;
(b) summarised statements of the income and expenditure of each of those funds; and
(c) balance sheets in respect of each of those funds,
and in relation to amounts shown in pursuance of sub-paragraphs (b) and (c) shall show any corresponding amounts for the immediately preceding period.
(6) The requirement in paragraph (1) above to show corresponding amounts for the immediately preceding period shall not apply in relation to a council of a county or county borough in Wales in relation to accounts for the year beginning 1st April 1996.

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Source: https://www.legislation.gov.uk/uksi/1996/590/regulation/6 (the official version)
Page: https://openlegislation.uk/accounts-and-audit-regulations-1996/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.