Paragraph 19 Provisions for bad and doubtful debtsI1

United Kingdom

(1)

In respect of any provisions for bad and doubtful debts deducted from Asset item B in Parts I and II of Schedule 2 there shall be shown the following information, in respect of each item—

(a)

the amount of the provision as at the date of the beginning of the financial year and as at the balance sheet date respectively, showing separately—

(i)

specific provisions for bad and doubtful debts, and

(ii)

general provisions for bad and doubtful debts.

(b)

any amounts transferred to or from each of the provisions referred to in sub-paragraph (a) during the year, and

(c)

the source and application respectively of any amounts so transferred.

(2)

For the purposes of sub-paragraphs (1) and (2) “specific provisions” shall be any provisions determined by reference to particular loans or advances and all other provisions shall be “general provisions”.

Annotations

Commencement

I1: Sch. 5 para. 19 in force at 27.3.1998, see reg. 1