Regulation 5 Form and content: special cases

(1)

This regulation applies to a statement of accounts prepared by the charity trustees of a special case charity in accordance with section 42(1) of the 1993 Act in respect of a financial year which begins on or after 1st January 2001.

(2)

The requirements as to form and content of a statement of accounts to which this regulation applies are those set out in the following provisions of this regulation.

(3)

The statement shall consist of an income and expenditure account and a balance sheet as at the end of the financial year in respect of which the statement of accounts is prepared.

(4)

The statement shall be prepared in accordance with the following principles, namely that—

(a)

the income and expenditure account shall give a true and fair view of the income and expenditure of the charity for the financial year in respect of which the statement of accounts is prepared; and

(b)

the balance sheet shall give a true and fair view of the state of affairs of the charity at the end of that year.