Paragraph 57 Guarantees and other financial commitmentsF1

United Kingdom

(1)

The total amount of any financial commitments, guarantees and contingencies that are not included in the balance sheet must be stated.

(2)

An indication of the nature and form of any valuable security given by the company in respect of commitments, guarantees and contingencies within sub-paragraph (1) must be given.

(3)

The total amount of any commitments within sub-paragraph (1) concerning pensions must be separately disclosed.

(4)

The total amount of any commitments within sub-paragraph (1) which are undertaken on behalf of or for the benefit of—

(a)

any parent undertaking, fellow subsidiary undertaking or any subsidiary undertaking of the company, or

(b)

any undertaking in which the company has a participating interest

must be separately stated and those within paragraph (a) must also be stated separately from those within paragraph (b).

Annotations

Textual amendments

F1: Sch. 1 para. 57 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(14) (with reg. 3)

Notes on Schedule 1

Modifications

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)