Paragraph 4 Summary balance sheet

(1)

The summary financial statement shall contain, in the case of a company the directors of which are not required to prepare group accounts under Part VII of the 1985 Act for the financial year, a summary balance sheet for the company or, in the case of a company the directors of which are so required, a summary consolidated balance sheet, which shall show, in so far as they may be derived from the full balance sheet, the following items:

(a)

the amount of issued share capital required to be disclosed under paragraph 2 of Schedule 9 to the 1985 Act (Issued share capital);

(b)

the combined figure for the reserves required to be shown under paragraphs 4(1) and 7 of that Schedule (Reserves);

(c)

the combined figure for the provisions required to be shown under paragraphs 4(1) and 7 of that Schedule (Provisions);

(d)

the combined figure for liabilities required to be shown in the balance sheet under Part I of that Schedule (Liabilities);

(e)

the combined figure for fixed assets required to be shown in the balance sheet under Part I of that Schedule (Fixed assets); and

(f)

a combined figure for any other assets required to be disclosed in the full balance sheet under the provisions of Part I of that Schedule (Other assets),

in each case under an appropriate heading.

(2)

There shall also be stated, under an appropriate heading, the information required by paragraph 13(7) of Schedule 9 to the 1985 Act (contingent liabilities not otherwise provided for).

(3)

In respect of every item shown in the summary balance sheet the corresponding amount shall be shown for the immediately preceding financial year; for this purpose “the corresponding amount” is the amount shown in the summary financial statement for that year or which would have been so shown had such a statement been prepared for that year, after any adjustments necessary to ensure that that amount is comparable with the item for the financial year in question.