Paragraph 15 Reserves

(1)

Where the reserves or provisions of an association are shown in the accounts the information mentioned in subparagraph (2) shall be shown if any amount is transferred—

(a)

to or from any reserves; or

(b)

to any provisions for liabilities and charges; or

(c)

from any provision for liabilities and charges otherwise than for the purposes for which the provision was established.

(2)

That information is—

(a)

the amount of the reserves or provisions as at the beginning of the period of account and at the balance sheet date;

(b)

any amounts transferred to and from the reserves or provisions during that period;

(c)

the source and application of any amounts so transferred.

(3)

Particulars shall be given of each provision included in the item “other provisions” in the association’s balance sheet in any case where the amount of the provision is not material.