Regulation 6 Form and content of statement of accounts: investment funds
This regulation applies to a statement of accounts prepared by the charity trustees of an investment fund in accordance with section 42(1) of the 1993 Act.
The requirements as to form and content of a statement of accounts to which this regulation applies are prescribed in paragraphs (3) to (8).
Subject to paragraph (4), the statement of accounts must consist of—
a statement of total return which satisfies the requirements prescribed in Part 1 of Schedule 1;
a statement of changes in net assets which satisfies the requirements prescribed in Part 2 of Schedule 1; and
a balance sheet which satisfies the requirements prescribed in Part 3 of Schedule 1.
In the case of any financial year of a common deposit fund in which there are no gains or losses on disposal or revaluation of assets, paragraph (3) has effect as if sub-paragraph (b) were omitted.
The statement of accounts must be prepared in accordance with the methods and principles specified or referred to in Part 4 of Schedule 1.
There must be provided by way of notes to the accounts the information specified in Part 5 of Schedule 1.
The balance sheet must—
if the scheme or schemes regulating the investment fund allocates responsibility for preparing the accounts to a particular person, be signed and dated by that person;
in any other case, be signed by at least one of the charity trustees of the investment fund, each of whom has been authorised to do so.
Where the balance sheet of an investment fund is signed by one or more of the charity trustees in accordance with paragraph (7)(b), the balance sheet must specify the date on which the statement of accounts of which the balance sheet forms part was approved by the charity trustees.