# The Small Companies (Micro-Entities’ Accounts) Regulations 2013, Regulation 11: Amendment of Part 2 of Schedule 1 (accounting principles and rules)


In Section B of Part 2 of Schedule 1 to the 2008 Regulations (historical cost accounting rules)—
(a) in paragraph 19 (provisions for diminution in the value of assets), in sub-paragraph (1), after “set out in” insert “Section B of”;
(b) in paragraph 21 (development costs), for sub-paragraph (1) substitute—
“(1) Development costs may only in special circumstances be included in “other intangible assets” under “fixed assets” in the balance sheet formats set out in Section B of Part 1 of this Schedule.”;
(c) in paragraph 26 (assets included at a fixed amount), for sub-paragraph (1) substitute—
“(1) Subject to sub-paragraph (2), the following may be included at a fixed quantity and value in the balance sheet formats set out in Section B of Part 1 of this Schedule—
(a) assets which fall to be included amongst the fixed assets of a company under the item “intangible assets”, and
(b) raw materials and consumables within the item “stocks”.”; and
(d) in paragraph 28 (purchase price or production cost of stocks and fungible assets), in sub-paragraph (1)(a), after “assets which” insert “, by virtue of regulation 3(1) and Section B of Part 1 of this Schedule,”.

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Source: https://www.legislation.gov.uk/ukdsi/2013/9780111105207/regulation/11 (the official version)
Page: https://openlegislation.uk/draft-small-companies-micro-entities-accounts-regulations-2013/regulation-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.