# The Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008, Paragraph 9


The company’s directors must, in determining how amounts are presented within items in the profit and loss account and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles or practice.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110806426/schedule/1/paragraph/9 (the official version)
Page: https://openlegislation.uk/draft-small-companies-and-groups-accounts-and-directors-report-regulations-2008/schedule-1/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.