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The Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008

Draft. This instrument was laid in draft and may differ from the one made. Look for the made version under its title.

Draft 2008, ISBN 9780110806426

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Draft Regulations laid before Parliament under sections 473(3) and 1290 of the Companies Act 2006 for approval by resolution of each House of Parliament.

COMPANIES

Made *** 2008

Coming into force 6th April 2008

The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 396(3), 404(3), 409(1) to (3), 412(1) to (3), 416(4), 444(3)(a) and (b), 677(3)(a), 712(2)(b)(i), 836(1)(b)(i) and 1292(1)(a) and (c) of the Companies Act 2006f1.

In accordance with sections 473(3) and 1290 of the Companies Act 2006 a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations to the whole text

Footnotes

f1

2006 c.46.

Contents

  1. Part 1: INTRODUCTION
  2. 1Citation and interpretation
  3. 2Commencement and application
  4. Part 2: FORM AND CONTENT OF INDIVIDUAL ACCOUNTS
  5. 3Companies Act individual accounts
  6. 4Information about related undertakings (Companies Act or IAS individual accounts)
  7. 5Information about directors’ benefits: remuneration (Companies Act or IAS individual accounts)
  8. 6Accounts for delivery to registrar of companies (Companies Act individual accounts)
  9. Part 3: DIRECTORS’ REPORT
  10. 7Directors’ report
  11. Part 4: FORM AND CONTENT OF GROUP ACCOUNTS
  12. 8Companies Act group accounts
  13. 9Information about directors’ benefits: remuneration (Companies Act or IAS group accounts)
  14. 10Information about related undertakings (Companies Act or IAS group accounts)
  15. 11Accounts for delivery to registrar of companies (Companies Act group accounts)
  16. Part 5: INTERPRETATION
  17. 12Definition of “provisions”
  18. 13General interpretation
  19. Signature
  20. Schedule 1: COMPANIES ACT INDIVIDUAL ACCOUNTS
  21. Part 1: GENERAL RULES AND FORMATS
  22. GENERAL RULES
  23. 1Paragraph 1
  24. 2Paragraph 2
  25. 3Paragraph 3
  26. 4Paragraph 4
  27. 5Paragraph 5
  28. 6Paragraph 6
  29. 7Paragraph 7
  30. 8Paragraph 8
  31. 9Paragraph 9
  32. SECTION BTHE REQUIRED FORMATS FOR ACCOUNTS
  33. Part 2: ACCOUNTING PRINCIPLES AND RULES
  34. ACCOUNTING PRINCIPLES
  35. 10Preliminary
  36. 11Accounting principles
  37. 12Accounting principles
  38. 13Accounting principles
  39. 14Accounting principles
  40. 15Accounting principles
  41. HISTORICAL COST ACCOUNTING RULES
  42. 16Preliminary
  43. Fixed assets
  44. 17General rules
  45. 18Rules for depreciation and diminution in value
  46. 19Rules for depreciation and diminution in value
  47. 20Rules for depreciation and diminution in value
  48. 21Development costs
  49. 22Goodwill
  50. 23Current assets
  51. 24Current assets
  52. Miscellaneous and supplementary provisions
  53. 25Excess of money owed over value received as an asset item
  54. 26Assets included at a fixed amount
  55. 27Determination of purchase price or production cost
  56. 28Determination of purchase price or production cost
  57. 29Substitution of original stated amount where price or cost unknown
  58. ALTERNATIVE ACCOUNTING RULES
  59. 30Preliminary
  60. 31Preliminary
  61. 32Alternative accounting rules
  62. 33Application of the depreciation rules
  63. 34Additional information to be provided in case of departure from historical cost accounting rules
  64. 35Revaluation reserve
  65. FAIR VALUE ACCOUNTING
  66. 36Inclusion of financial instruments at fair value
  67. 37Determination of fair value
  68. 38Hedged items
  69. 39Other assets that may be included at fair value
  70. 40Accounting for changes in value
  71. 41The fair value reserve
  72. Part 3: NOTES TO THE ACCOUNTS
  73. 42Preliminary
  74. 43Reserves and dividends
  75. 44Disclosure of accounting policies
  76. Information supplementing the balance sheet
  77. 45Paragraph 45
  78. 46Share capital
  79. 47Share capital
  80. 48Fixed assets
  81. 49Fixed assets
  82. 50Investments
  83. 51Information about fair value of assets and liabilities
  84. 52Information about fair value of assets and liabilities
  85. 53Information where investment property and living animals and plants included at fair value
  86. 54Reserves and provisions
  87. 55Details of indebtedness
  88. 56Details of indebtedness
  89. 57Guarantees and other financial commitments
  90. 58Miscellaneous matters
  91. 59Information supplementing the profit and loss account
  92. 60Particulars of turnover
  93. 61Miscellaneous matters
  94. 62Sums denominated in foreign currencies
  95. 63Dormant companies acting as agents
  96. Schedule 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY NOT PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS INDIVIDUAL ACCOUNTS)
  97. Part 1: REQUIRED DISCLOSURES
  98. 1Subsidiary undertakings
  99. 2Holdings in subsidiary undertakings
  100. 3Financial information about subsidiary undertakings
  101. 4Shares of company held by subsidiary undertakings
  102. 5Significant holdings in undertakings other than subsidiary undertakings
  103. 6Significant holdings in undertakings other than subsidiary undertakings
  104. 7Significant holdings in undertakings other than subsidiary undertakings
  105. 8Membership of certain undertakings
  106. 9Parent undertaking drawing up accounts for larger group
  107. 10Identification of ultimate parent company
  108. 11Construction of references to shares held by company
  109. Part 2: INTERPRETATION OF REFERENCES TO “BENEFICIAL INTEREST”
  110. 12Introduction
  111. 13Residual interests under pension and employees’ share schemes
  112. 14Employer’s charges and other rights of recovery
  113. 15Trustee’s right to expenses, remuneration, indemnity etc.
  114. 16Meaning of “pension scheme”
  115. 17Application of provisions to directors
  116. Schedule 3: INFORMATION ABOUT DIRECTORS’ BENEFITS: REMUNERATION (COMPANIES ACT OR IAS ACCOUNTS)
  117. Part 1: INFORMATION REQUIRED TO BE DISCLOSED
  118. 1Total amount of directors’ remuneration etc.
  119. 2Compensation to directors for loss of office
  120. 3Sums paid to third parties in respect of directors’ services
  121. Part 2: SUPPLEMENTARY PROVISIONS
  122. 4General nature of obligations
  123. 5Provisions as to amounts to be shown
  124. 6Exclusion of sums liable to be accounted for to company etc.
  125. 7Meaning of “remuneration”
  126. 8Meaning of “long term incentive scheme”
  127. 9Meaning of “shares” and “share option” and related expressions
  128. 10Meaning of “pension scheme” and related expressions
  129. 11References to subsidiary undertakings
  130. 12Other minor definitions
  131. Schedule 4: COMPANIES ACT ABBREVIATED ACCOUNTS FOR DELIVERY TO REGISTRAR OF COMPANIES
  132. Part 1: THE REQUIRED BALANCE SHEET FORMATS
  133. 1Paragraph 1
  134. Part 2: NOTES TO THE ACCOUNTS
  135. 2Preliminary
  136. 3Disclosure of accounting policies
  137. Information supplementing the balance sheet
  138. 4Share capital and debentures
  139. 5Share capital and debentures
  140. 6Fixed assets
  141. 7Financial fixed assets
  142. 8Details of indebtedness
  143. 9Sums denominated in foreign currencies
  144. 10Dormant companies acting as agents
  145. Schedule 5: MATTERS TO BE DEALT WITH IN DIRECTORS’ REPORT
  146. 1Introduction
  147. 2Political donations and expenditure
  148. 3Political donations and expenditure
  149. 4Charitable donations
  150. 5Disclosure concerning employment etc. of disabled persons
  151. 6Disclosure required by company acquiring its own shares etc.
  152. Schedule 6: GROUP ACCOUNTS
  153. Part 1: FORM AND CONTENT OF COMPANIES ACT GROUP ACCOUNTS
  154. 1General rules
  155. 2General rules
  156. 3General rules
  157. 4General rules
  158. 5General rules
  159. 6Elimination of group transactions
  160. 7Acquisition and merger accounting
  161. 8Acquisition and merger accounting
  162. 9Acquisition and merger accounting
  163. 10Acquisition and merger accounting
  164. 11Acquisition and merger accounting
  165. 12Acquisition and merger accounting
  166. 13Acquisition and merger accounting
  167. 14Acquisition and merger accounting
  168. 15Acquisition and merger accounting
  169. 16Acquisition and merger accounting
  170. 17Minority interests
  171. 18Joint ventures
  172. 19Associated undertakings
  173. 20Associated undertakings
  174. Part 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS GROUP ACCOUNTS)
  175. 21Introduction and interpretation
  176. 22Subsidiary undertakings
  177. 23Holdings in subsidiary undertakings
  178. 24Financial information about subsidiary undertakings not included in the consolidation
  179. 25Shares of company held by subsidiary undertakings
  180. 26Joint ventures
  181. 27Associated undertakings
  182. 28Other significant holdings of parent company or group
  183. 29Other significant holdings of parent company or group
  184. 30Other significant holdings of parent company or group
  185. 31Other significant holdings of parent company or group
  186. 32Other significant holdings of parent company or group
  187. 33Other significant holdings of parent company or group
  188. 34Parent company’s or group’s membership of certain undertakings
  189. 35Parent undertaking drawing up accounts for larger group
  190. 36Identification of ultimate parent company
  191. 37Construction of references to shares held by parent company or group
  192. Schedule 7: INTERPRETATION OF TERM “PROVISIONS”
  193. Part 1: MEANING FOR PURPOSES OF THESE REGULATIONS
  194. 1Definition of “Provisions”
  195. 2Definition of “Provisions”
  196. Part 2: MEANING FOR PURPOSES OF PARTS 18 AND 23 OF THE 2006 ACT
  197. 3Financial assistance for purchase of own shares
  198. 4Redemption or purchase by private company out of capital
  199. 5Justification of distribution by references to accounts
  200. Schedule 8: GENERAL INTERPRETATION
  201. 1Financial instruments
  202. 2Financial instruments
  203. 3Fixed and current assets
  204. 4Historical cost accounting rules
  205. 5Listed investments
  206. 6Loans
  207. 7Materiality
  208. 8Participating interests
  209. 9Purchase price
  210. 10Realised profits and losses
  211. 11Staff costs
  212. Explanatory note