Paragraph 38 Assets included at a fixed amount

United Kingdom

(1)

Subject to the following sub-paragraph, assets which fall to be included under Assets item F.I.(tangible assets) in the balance sheet format may be included at a fixed quantity and value.

(2)

Sub-paragraph (1) applies to assets of a kind which are constantly being replaced, where—

(a)

their overall value is not material to assessing the company’s state of affairs; and

(b)

their quantity, value and composition are not subject to material variation.

Notes on Schedule 9A

Textual amendments

F1: Sch. 9A repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)
F2: Sch. 9A substituted (19.12.1993) by virtue of S.I. 1993/3246, regs. 4, 6, 7, Sch. 1