# The Friendly Societies (Accounts and Related Provisions) Regulations 1994, Paragraph 23: Development costs

Extent: E+W+S+N.I.

(1) Notwithstanding that amounts representing “development costs” may be included under Assets item A (intangible assets) in the balance sheet format, an amount may only be included in a society’s balance sheet in respect of development costs in special circumstances.
(2) If any amount is included in a society’s balance sheet in respect of development costs the following information must be given in a note to the accounts:
(a) the period over which the amount of those costs originally capitalised is being or is to be written off; and
(b) the reasons for capitalising the development costs in question.

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Source: https://www.legislation.gov.uk/uksi/1994/1983/schedule/6/paragraph/23 (the official version)
Page: https://openlegislation.uk/friendly-societies-accounts-and-related-provisions-regulations-1994/schedule-6/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.