Article 16 Balance sheet and income and expenditure account
Subject to paragraph (2), in respect of every item shown in the balance sheet or the income and expenditure account, the corresponding amount for the previous period of account to that to which the balance sheet or the income and expenditure account relates shall be shown.
An item listed in the format adopted in preparing the balance sheet or income and expenditure account shall not be included if there is no amount to be shown for that item in respect of the period of account and in respect of the previous period of account.
Items to which Arabic numbers are assigned in the format adopted may be combined in an association’s accounts for a period of account if—
their individual amounts are not material to assess the state of affairs or surplus or deficit of the association; or
the combination facilitates that assessment, but in this case the individual items so combined shall be shown in the notes to the accounts.
In preparing an association’s balance sheet or income and expenditure account the headings and sub-headings otherwise required under articles 13 and 14 in respect of items to which an Arabic number is assigned may be adapted where the special nature of the association’s business requires such adaptation.