Paragraph 3 Summary profit and loss account

(1)

Sub-paragraph (2) below shall apply where the full annual accounts have been prepared under the transitional arrangements.

(2)

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 profit and loss account for the company, or, in the case of a company the directors of which are so required, a summary consolidated profit and loss account, showing, in so far as they may be derived from the full profit and loss account, amounts for the following items, under appropriate headings:

(a)

the profit or loss for the financial year before taxation;

(b)

taxation, that is the combined amount of the charge to revenue for United Kingdom taxation required to be shown by paragraph 14(1)(c) of Schedule 9 to the 1985 Act (as continued in force under the transitional arrangements) and the charge for taxation imposed out of the United Kingdom on profits, income and (so far as charged to revenue) capital gains required to be shown by that paragraph;

(c)

the profit or loss for the financial year after taxation;

(d)

extraordinary and exceptional items, that is the amounts required by paragraph 18(6)(a) of that Schedule (as so continued in force); and

(e)

dividends paid and proposed, that is the aggregate amount of dividends paid and proposed required by paragraph 14(1)(k) of that Schedule (as so continued in force).