Paragraph 54 Information about revalued fixed assetsF1

United Kingdom

(1)

This paragraph applies where fixed assets are measured at revalued amounts.

(2)

Where this paragraph applies, the following information must be given in tabular form—

(a)

movements in the revaluation reserve in the financial year, with an explanation of the tax treatment of items therein, and

(b)

the carrying amount in the balance sheet that would have been recognised had the fixed assets not been revalued.

Annotations

F1: Sch. 1 para. 54 substituted (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), 18(11) (with reg. 3)

C1: Sch. 1 applied (with modifications) (E.W.S.) (with application in accordance with reg. 2(2) of the amending S.I.) by The Small Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1912), regs. 2(1), 3(2), Sch. 1 (with reg. 2(3)) (as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 34-41)