{
  "url": "https://openlegislation.uk/small-companies-and-groups-accounts-and-directors-report-regulations-2008/schedule-1/paragraph-1B",
  "json_url": "https://openlegislation.uk/small-companies-and-groups-accounts-and-directors-report-regulations-2008/schedule-1/paragraph-1B.json",
  "legislation": "uksi/2008/409",
  "legislation_title": "The Small Companies and Groups (Accounts and Directors' Report) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/small-companies-and-groups-accounts-and-directors-report-regulations-2008",
  "path": "schedule/1/paragraph/1B",
  "kind": "paragraph",
  "number": "1B",
  "heading": null,
  "text": "(1) The company's directors may adapt one of the balance sheet formats in Section B so to distinguish between current and non-current items in a different way, provided that—\n(a) the information given is at least equivalent to that which would have been required by the use of such format had it not been thus adapted, and\n(b) the presentation of those items is in accordance with generally accepted accounting principles or practice.\n(2) The company's directors may, otherwise than pursuant to paragraph 1A(2), adapt one of the profit and loss account formats in Section B, provided that—\n(a) the information given is at least equivalent to that which would have been required by the use of such format had it not been thus adapted, and\n(b) the presentation is in accordance with generally accepted accounting principles or practice.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 1 paras. 1A-1C inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 16(2)(c) (with reg. 3)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 1 para. 1B(2) omitted (26.10.2023 for specified purposes) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 58(4), 219(1)(2)(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2008/409/schedule/1/paragraph/1B",
    "retrieved_at": "2026-10-29T03:36:29.632468+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}