Companies (1986 Order) (Miscellaneous Accounting Amendments) Regulations (Northern Ireland) 1997

Regulation 13(1)

SCHEDULE 1 Form and Content of Company Accounts

1.  Schedule 4 to the 1986 Order (form and content of company accounts) is amended as follows.

2.  In paragraph 3(7) (aggregate amount of dividends to be shown separately in profit and loss account etc.)—

(a) omit “and” at the end of head (a), and

(b) after head (b) insert—

“(c) if it is not shown in the notes to the accounts, the aggregate amount of any dividends proposed.”.

3.  In note (13) of the notes on the balance sheet formats set out in Section B of Part 1, for the words from “and their aggregate” to the end substitute “and for the aggregate of all of these items.”.

4.—(1) Paragraph 34 (revaluation reserve)(1) is amended as follows.

(2) In sub-paragraph (3), for “from the revaluation reserve” to “on capitalisation;” substitute—

“(a) from the revaluation reserve—

(i) to the profit and loss account, if the amount was previously charged to that account or represents realised profit, or

(ii) on capitalisation,

(b) to or from the revaluation reserve in respect of the taxation relating to any profit or loss credited or debited to the reserve;”.

(3) In sub-paragraph (3A)(2), for “sub-paragraph (3)(b)” substitute “sub-paragraph (3)(a)(ii)”.

5.  Sub-paragraph (a) of paragraph 39 (statement in notes to accounts of reason for allotting shares) is hereby repealed.

6.  In paragraph 41 (information in notes to accounts about debentures issued during the financial year), sub-paragraphs (1)(a) and (2) are hereby repealed.

7.  In paragraph 45(1) (information in notes to accounts about investments)(3), head (b) and the word “and” immediately preceding it are hereby repealed.

8.  For sub-paragraph (1) of paragraph 48 (statement in notes to accounts of details of indebtedness) substitute the following—

“(1) In respect of each item shown under “creditors” in the company’s balance sheet there shall be stated the aggregate of the following amounts, that is to say—

(a) the amount of any debts included under that item which are payable or repayable otherwise than by instalments and fall due for payment or repayment after the end of the period of five years beginning with the day next following the end of the financial year; and

(b) the amount of any debts so included which are payable or repayable by instalments any of which fall due for payment after the end of that period.”.

9.  In paragraph 50(3) (statement in notes to accounts of amounts of capital expenditure)(4), head (b) and the word “and” immediately preceding it are hereby repealed.

10.  Paragraph 51(3) (statement in notes to accounts of aggregate amount of recommended dividend)(5) is hereby repealed.

11.—(1) Paragraph 53 (separate statement of certain items of income and expenditure)(6) is amended as follows.

(2) In sub-paragraph (2)(a) the words from “and loans” to “that period” are hereby repealed.

(3) Sub-paragraphs (3) to (6) are hereby repealed.

12.  Paragraph 54(1) (statement in notes to accounts of basis on which charge for tax computed) is hereby repealed.

13.—(1) Paragraph 55 (particulars of turnover) is amended as follows.

(2) In sub-paragraph (1), head (b) and the word “and” immediately preceding it are hereby repealed.

(3) In sub-paragraph (3) omit the words “or (as the case may be) of profit or loss”.

14.—(1) Paragraph 56 (particulars of staff) is amended as follows.

(2) In sub-paragraph (2) for “weeks” substitute “months”.

(3) In sub-paragraph (3) for “week” wherever it occurs substitute “month” and for “weekly” substitute “monthly”.

15.  Paragraph 59 (dealings with or interests in group undertakings)(7) is hereby repealed.

16.—(1) Paragraph 92 (staff costs) is amended as follows.

(2) For sub-paragraph (2) substitute—

“(2) “pension costs” includes any costs incurred by the company in respect of any pension scheme established for the purpose of providing pensions for persons currently or formerly employed by the company, any sums set aside for the future payment of pensions directly by the company to current or former employees and any pensions paid directly to such persons without having first been set aside.”.

(3) In sub-paragraph (3), for “either of the above items” substitute “the item “social security costs”.”

(1)

Paragraph 34 was amended by Article 6(2) of and paragraph 6 of Schedule 1 to, the Companies (Northern Ireland) Order 1990

(2)

Sub-paragraph (3A) was inserted by Article 6(2) of, and paragraph 6 of Schedule 1 to, the Companies (Northern Ireland) Order 1990

(3)

Paragraph 45 was amended by section 212 of, and paragraph 38(a) of Schedule 16 to, the Financial Services Act 1986 (c. 60)

(4)

Paragraph 50 was amended by Article 26 of, and Schedule 15 to, the Companies (Northern Ireland) Order 1990

(5)

Paragraph 51 was amended by Article 6(2) of, and paragraph 9 of Schedule 1 to, the Companies (Northern Ireland) Order 1990

(6)

Paragraph 53 was amended by Article 6(2) of, and paragraph 2 of Schedule 1 to, the Companies (Northern Ireland) Order 1990 and by Article 113 of, and Schedule 6 to, the Companies (No. 2) (Northern Ireland) Order 1990

(7)

Paragraph 59 was substituted by Article 6(2) of, and paragraph 11(2) of Schedule 1 to, the Companies (Northern Ireland) Order 1990