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The Small Companies and Groups (Accounts and Directors' Report) Regulations 2008

S.I. 2008/409 · Made 19 February 2008 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 6 April 2025.

COMPANIES

Made 19th February 2008

Coming into force 6th April 2008

The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 396(3), 404(3), 409(1) to (3), 412(1) to (3), 416(4), 444(3)(a) and (b), 677(3)(a), 712(2)(b)(i), 836(1)(b)(i) and 1292(1)(a) and (c) of the Companies Act 2006 M1.

In accordance with sections 473(3) and 1290 of the Companies Act 2006 a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

Annotations to the whole text

Marginal citations

M1

2006 c.46.

Contents

  1. Part 1: INTRODUCTION
  2. 1Citation and interpretation
  3. 2Commencement and application
  4. Part 2: FORM AND CONTENT OF INDIVIDUAL ACCOUNTS
  5. 3Companies Act individual accounts
  6. 4Information about related undertakings (Companies Act or IAS individual accounts) Repealed
  7. 5Information about directors' benefits: remuneration (Companies Act or IAS individual accounts) Repealed
  8. 5ACompanies Act individual accounts: micro-entities – notes to the accounts
  9. 6Accounts for delivery to registrar of companies (Companies Act individual accounts) Repealed
  10. Part 3: DIRECTORS' REPORT
  11. 7Directors' report
  12. Part 4: FORM AND CONTENT OF GROUP ACCOUNTS
  13. 8Companies Act group accounts
  14. 9Information about directors' benefits: remuneration (Companies Act or IAS group accounts) Repealed
  15. 10Information about related undertakings (Companies Act or IAS group accounts)
  16. 11Accounts for delivery to registrar of companies (Companies Act group accounts)
  17. Part 5: INTERPRETATION
  18. 12Definition of “provisions”
  19. 13General interpretation
  20. Signature
  21. Schedule 1: COMPANIES ACT INDIVIDUAL ACCOUNTS
  22. Part 1: GENERAL RULES AND FORMATS
  23. GENERAL RULES
  24. 1Paragraph 1
  25. 1AParagraph 1A
  26. 1BParagraph 1B
  27. 1CParagraph 1C
  28. 2Paragraph 2
  29. 2AParagraph 2A
  30. 3Paragraph 3
  31. 4Paragraph 4
  32. 5Paragraph 5
  33. 6Paragraph 6
  34. 7Paragraph 7
  35. 8Paragraph 8
  36. 9Paragraph 9
  37. 9AParagraph 9A
  38. SECTION BThe required formats for the accounts of companies other than micro-entities
  39. Paragraph
  40. Paragraph
  41. Paragraph
  42. Paragraph
  43. Paragraph
  44. Paragraph
  45. Paragraph
  46. Paragraph
  47. Paragraph
  48. Paragraph
  49. Paragraph
  50. Paragraph
  51. Paragraph
  52. Paragraph
  53. Paragraph
  54. Paragraph
  55. Paragraph
  56. Paragraph
  57. Paragraph
  58. Paragraph
  59. Paragraph
  60. Paragraph
  61. Paragraph
  62. Paragraph
  63. Paragraph
  64. Paragraph
  65. Paragraph
  66. Paragraph
  67. Paragraph Repealed
  68. THE REQUIRED FORMATS FOR THE ACCOUNTS OF MICRO-ENTITIES
  69. Balance Sheet FormatsFormat 1
  70. Format 2
  71. Profit and loss account format
  72. Part 2: ACCOUNTING PRINCIPLES AND RULES
  73. ACCOUNTING PRINCIPLES
  74. 10Preliminary
  75. 11Accounting principles
  76. 12Paragraph 12
  77. 13Paragraph 13
  78. 14Paragraph 14
  79. 15Paragraph 15
  80. 15AParagraph 15A
  81. HISTORICAL COST ACCOUNTING RULES
  82. 16Preliminary
  83. Fixed assets
  84. 17General rules
  85. 18Rules for depreciation and diminution in value
  86. 19Paragraph 19
  87. 20Paragraph 20
  88. 21Intangible Assets
  89. 22Paragraph 22
  90. 23Current assets
  91. 24Paragraph 24
  92. Miscellaneous and supplementary provisions
  93. 25Excess of money owed over value received as an asset item
  94. 26Assets included at a fixed amount
  95. 27Determination of purchase price or production cost
  96. 28Paragraph 28
  97. 29Substitution of original stated amount where price or cost unknown
  98. 29AEquity method in respect of participating interests
  99. ALTERNATIVE ACCOUNTING RULES
  100. 30Preliminary
  101. 31Paragraph 31
  102. 32Alternative accounting rules
  103. 33Application of the depreciation rules
  104. 34Additional information to be provided in case of departure from historical cost accounting rules
  105. 35Revaluation reserve
  106. FAIR VALUE ACCOUNTING
  107. 36Inclusion of financial instruments at fair value
  108. 37Determination of fair value
  109. 38Hedged items
  110. 39Other assets that may be included at fair value
  111. 40Accounting for changes in value
  112. 41The fair value reserve
  113. Part 3: NOTES TO THE ACCOUNTS
  114. 42Preliminary
  115. 43Reserves and dividends Repealed
  116. 44Disclosure of accounting policies
  117. Information supplementing the balance sheet
  118. 45Paragraph 45
  119. 46Share capital Repealed
  120. 47Paragraph 47 Repealed
  121. 48Fixed assets
  122. 49Paragraph 49
  123. 50Investments Repealed
  124. 51Information about fair value of assets and liabilities
  125. 52Paragraph 52 Repealed
  126. 53Information where investment property and living animals and plants included at fair value Repealed
  127. 54Information about revalued fixed assets
  128. 55Details of indebtedness
  129. 56Paragraph 56 Repealed
  130. 57Guarantees and other financial commitments
  131. 58Miscellaneous matters Repealed
  132. 59Information supplementing the profit and loss account Repealed
  133. 60Particulars of turnover Repealed
  134. 61Miscellaneous matters
  135. 62Sums denominated in foreign currencies Repealed
  136. 63Dormant companies acting as agents Repealed
  137. 64Post balance sheet events
  138. 65Parent undertaking information
  139. 66Related party transactions
  140. Schedule 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY NOT PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS INDIVIDUAL ACCOUNTS) Repealed
  141. Part Repealed
  142. Paragraph Repealed
  143. Paragraph Repealed
  144. Paragraph Repealed
  145. Paragraph Repealed
  146. Paragraph Repealed
  147. Paragraph Repealed
  148. Paragraph Repealed
  149. Paragraph Repealed
  150. Paragraph Repealed
  151. Paragraph Repealed
  152. Paragraph Repealed
  153. Part Repealed
  154. Paragraph Repealed
  155. Paragraph Repealed
  156. Paragraph Repealed
  157. Paragraph Repealed
  158. Paragraph Repealed
  159. Paragraph Repealed
  160. Schedule 3: INFORMATION ABOUT DIRECTORS' BENEFITS: REMUNERATION (COMPANIES ACT OR IAS ACCOUNTS) Repealed
  161. Part ... Repealed
  162. Paragraph Repealed
  163. Paragraph Repealed
  164. Paragraph Repealed
  165. Part Repealed
  166. Paragraph Repealed
  167. Paragraph Repealed
  168. Paragraph Repealed
  169. Paragraph Repealed
  170. Paragraph Repealed
  171. Paragraph Repealed
  172. Paragraph Repealed
  173. Paragraph Repealed
  174. Paragraph Repealed
  175. Schedule 4: COMPANIES ACT ABBREVIATED ACCOUNTS FOR DELIVERY TO REGISTRAR OF COMPANIES Repealed
  176. Part ... Repealed
  177. Paragraph Repealed
  178. Part Repealed
  179. Paragraph Repealed
  180. Paragraph Repealed
  181. Repealed
  182. Paragraph Repealed
  183. Paragraph Repealed
  184. Paragraph Repealed
  185. Paragraph Repealed
  186. Paragraph Repealed
  187. Paragraph Repealed
  188. Paragraph Repealed
  189. Schedule 5: MATTERS TO BE DEALT WITH IN DIRECTORS' REPORT
  190. 1Introduction
  191. 2Political donations and expenditure
  192. 3Paragraph 3
  193. 4Charitable donations Repealed
  194. 5Disclosure concerning employment etc. of disabled persons Repealed
  195. 6Disclosure required by company acquiring its own shares etc. Repealed
  196. Schedule 6: GROUP ACCOUNTS
  197. Part 1: FORM AND CONTENT OF COMPANIES ACT GROUP ACCOUNTS
  198. 1General rules
  199. 2Paragraph 2
  200. 3Paragraph 3
  201. 4Paragraph 4
  202. 5Paragraph 5
  203. 6Elimination of group transactions
  204. 7Acquisition and merger accounting
  205. 8Paragraph 8
  206. 9Paragraph 9
  207. 10Paragraph 10
  208. 11Paragraph 11
  209. 12Paragraph 12
  210. 13Paragraph 13
  211. 14Paragraph 14
  212. 15Paragraph 15
  213. 16Paragraph 16
  214. 16AParagraph 16A
  215. 17Non-controlling interests
  216. 18Joint ventures
  217. 19Associated undertakings
  218. 20Paragraph 20
  219. 20ADeferred tax balances
  220. 20BRelated Party Transactions
  221. Part 2: INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS GROUP ACCOUNTS)
  222. 21Introduction and interpretation
  223. 22Subsidiary undertakings
  224. 23Holdings in subsidiary undertakings
  225. 24Financial information about subsidiary undertakings not included in the consolidation
  226. 25Shares of company held by subsidiary undertakings
  227. 26Joint ventures
  228. 27Associated undertakings
  229. 28Other significant holdings of parent company or group
  230. 29Paragraph 29
  231. 30Paragraph 30
  232. 31Paragraph 31
  233. 32Paragraph 32
  234. 33Paragraph 33
  235. 34Parent company's or group's membership of certain undertakings
  236. 35Parent undertaking drawing up accounts for larger group
  237. 36Identification of ultimate parent company
  238. 37Construction of references to shares held by parent company or group
  239. Schedule 7: INTERPRETATION OF TERM “PROVISIONS”
  240. Part 1: MEANING FOR PURPOSES OF THESE REGULATIONS
  241. 1Definition of “Provisions”
  242. 2Paragraph 2
  243. 2AParagraph 2A
  244. 2BParagraph 2B
  245. Part 2: MEANING FOR PURPOSES OF PARTS 18 AND 23 OF THE 2006 ACT
  246. 3Financial assistance for purchase of own shares
  247. 4Redemption or purchase by private company out of capital
  248. 5Justification of distribution by references to accounts
  249. 6Realised losses
  250. Schedule 8: GENERAL INTERPRETATION
  251. 1Financial instruments
  252. 2Paragraph 2
  253. 3Fixed and current assets
  254. 4Historical cost accounting rules
  255. 5Listed investments
  256. 6Loans
  257. 7Materiality
  258. 8Participating interests
  259. 9Purchase price
  260. 10Realised profits and losses
  261. 11Staff costs
  262. Explanatory note