Paragraph 20

England, Wales and Scotland

(1)

Notwithstanding that an item in respect of “development costs” is included under “fixed assets” in the balance sheet formats set out in Part I of this Schedule, an amount may only be included in a company’s balance sheet in respect of development costs in special circumstances.

(2)

If any amount is included in a company’s balance sheet in respect of development costs the following information shall be given in a note to the accounts—

(a)

the period over which the amount of those costs originally capitalised is being or is to be written off; and

(b)

the reasons for capitalising the development costs in question.

Notes on Schedule 4

Textual amendments

F1: Sch. 4 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)