# The Accounts and Audit Regulations 2015, Regulation 11: Statement of accounts for Category 2 authorities


(1) A Category 2 authority must ensure that the statement of accounts required by section 3(3) of the Act is prepared in accordance with these Regulations.
(2) Subject to paragraph (3), a statement of accounts prepared by a Category 2 authority under section 3(3) of the Act must take the form of—
(a) an income and expenditure account; and
(b) a statement of balances,
prepared in accordance with, and in the form specified in any annual return required by, proper practices in relation to accounts.
(3) Where, in relation to a Category 2 authority and a financial year, the gross income or expenditure (whichever is the higher) is not more than £200,000 for that financial year or for either of the two immediately preceding financial years, the statement of accounts may, instead of complying with paragraph (2), take the form of a record of receipts and payments of the authority in relation to that financial year.
(4) A record prepared in accordance with paragraph (3) must be prepared in accordance with, and in the form specified in any annual return required by, proper practices in relation to accounts.

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Source: https://www.legislation.gov.uk/uksi/2015/234/regulation/11 (the official version)
Page: https://openlegislation.uk/accounts-and-audit-regulations-2015/regulation-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.