{
  "url": "https://openlegislation.uk/companies-act-1948/schedule-EIGHTH/paragraph-7",
  "json_url": "https://openlegislation.uk/companies-act-1948/schedule-EIGHTH/paragraph-7.json",
  "legislation": "ukpga/Geo6/11-12/38",
  "legislation_title": "Companies Act 1948",
  "legislation_url": "https://openlegislation.uk/companies-act-1948",
  "path": "schedule/EIGHTH/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) There shall also be shown (unless it is shown in the profit and loss account or a statement or report annexed thereto, or the amount involved is not material)—\n(a) where the amount of the capital reserves, of the revenue reserves or of. the provisions (other than provisions for depreciation, renewals or diminution in value of assets) shows an increase as compared with the amount at the end of the immediately preceding financial year, the source from which the amount of the increase has been derived ; and\n(b) where—\n(i) the amount of the capital reserves or of the revenue reserves shows a decrease as compared with the amount at the end of the immediately preceding financial year ; or\n(ii) the amount at the end of the immediately preceding financial year of the provisions (other than provisions for depreciation, renewals or diminution in value of assets) exceeded the aggregate of the sums since applied and amounts still retained for the purposes thereof ;\nthe application of the amounts derived from the difference.\n(2) Where the heading showing any of the reserves or provisions aforesaid is divided into sub-headings, this paragraph shall apply to each of the separate amounts shown in the sub-headings instead of applying to the aggregate amount thereof.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/schedule/EIGHTH/paragraph/7",
    "retrieved_at": "2026-10-29T11:23:04.638870+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}