Fourth Council Directive of 25 July 1978 based on Article 54 (3) (g) of the Treaty on the annual accounts of certain types of companies (78/660/EEC) (repealed)

Article 9 U.K.

Assets

A.

Subscribed capital unpaid

of which there has been called

(unless national law provides that called-up capital be shown under ‘Liabilities’. In that case, the part of the capital called but not yet paid must appear as an asset either under A or under D (II) (5)).

B.

Formation expenses

as defined by national law, and in so far as national law permits their being shown as an asset. National law may also provide for formation expenses to be shown as the first item under ‘Intangible assets’.

C.

Fixed assets

I.

Intangible assets

1.

Costs of research and development, in so far as national law permits their being shown as assets.

2.

Concessions, patents, licences, trade marks and similar rights and assets, if they were:

(a)

acquired for valuable consideration and need not be shown under C (I) (3); or

(b)

created by the undertaking itself, in so far as national law permits their being shown as assets.

3.

Goodwill, to the extent that it was acquired for valuable consideration.

4.

Payments on account.

II.

Tangible assets

1.

Land and buildings.

2.

Plant and machinery.

3.

Other fixtures and fittings, tools and equipment.

4.

Payments on account and tangible assets in course of construction.

III.

Financial assets

1.

Shares in affiliated undertakings.

2.

Loans to affiliated undertakings.

3.

Participating interests.

4.

Loans to undertakings with which the company is linked by virtue of participating interests.

5.

Investments held as fixed assets.

6.

Other loans.

7.

Own shares (with an indication of their nominal value or, in the absence of a nominal value, their accounting par value) to the extent that national law permits their being shown in the balance sheet.

D.

Current assets

I.

Stocks

1.

Raw materials and consumables.

2.

Work in progress.

3.

Finished goods and goods for resale.

4.

Payments on account.

II.

Debtors

(Amounts becoming due and payable after more than one year must be shown separately for each item.)

1.

Trade debtors.

2.

Amounts owed by affiliated undertakings.

3.

Amounts owed by undertakings with which the company is linked by virtue of participating interests.

4.

Other debtors.

5.

Subscribed capital called but not paid (unless national law provides that called-up capital be shown as an asset under A).

6.

Prepayments and accrued income (unless national law provides for such items to be shown as an asset under E).

III.

Investments

1.

Shares in affiliated undertakings.

2.

Own shares (with an indication of their nominal value or, in the absence of a nominal value, their accounting par value) to the extent that national law permits their being shown in the balance sheet.

3.

Other investments.

IV.

Cash at bank and in hand

E.

Prepayments and accrued income

(unless national law provides for such items to be shown as an asset under D (II) (6)).

F.

Loss for the financial year

(unless national law provides for it to be shown under A (VI) under ‘Liabilities’).

Liabilities

A.

Capital and reserves

I.

Subscribed capital

(unless national law provides for called-up capital to be shown under this item. In that case, the amounts of subscribed capital and paid-up capital must be shown separately).

II.

Share premium account

III.

Revaluation reserve

IV.

Reserves

1.

Legal reserve, in so far as national law requires such a reserve.

2.

Reserve for own shares, in so far as national law requires such a reserve, without prejudice to Article 22 (1) (b) of Directive 77/91/EEC.

3.

Reserves provided for by the articles of association.

4.

Other reserves.

V.

Profit or loss brought forward

VI.

Profit or loss for the financial year

(unless national law requires that this item be shown under F under ‘Assets’ or under E under ‘Liabilities’).

B.

[F1 Provisions]

1.

Provisions for pensions and similar obligations.

2.

Provisions for taxation.

3.

Other provisions.

C.

Creditors

(Amounts becoming due and payable within one year and amounts becoming due and payable after more than one year must be shown separately for each item and for the aggregate of these items.)

1.

Debenture loans, showing convertible loans separately.

2.

Amounts owed to credit institutions.

3.

Payments received on account of orders in so far as they are not shown separately as deductions from stocks.

4.

Trade creditors.

5.

Bills of exchange payable.

6.

Amounts owed to affiliated undertakings.

7.

Amounts owed to undertakings with which the company is linked by virtue of participating interests.

8.

Other creditors including tax and social security.

9.

Accruals and deferred income (unless national law provides for such items to be shown under D under ‘Liabilities’).

D.

Accruals and deferred income

(unless national law provides for such items to be shown under C (9) under ‘Liabilities’).

E.

Profit for the financial year

(unless national law provides for it to be shown under A (VI) under ‘Liabilities’).

Textual Amendments

F1 Substituted by Directive 2003/51/EC of the European Parliament and of the Council of 18 June 2003 amending Directives 78/660/EEC, 83/349/EEC, 86/635/EEC and 91/674/EEC on the annual and consolidated accounts of certain types of companies, banks and other financial institutions and insurance undertakings (Text with EEA relevance).