Companies Act 1985

PART II Modified Group Accounts (in Consolidated Form)

Introductory

12 In this Part of this Schedule—

(a) paragraphs 13 to 17 relate to modified accounts for a small group, and

(b) paragraphs 18 and 19 relate to modified accounts for a medium-sized group.

Small groups

13 (1) In respect of the relevant financial year, there may be delivered a copy of a modified balance sheet, instead of the full consolidated balance sheet

(2) The modified balance sheet shall be an abbreviated version of the full consolidated balance sheet, showing only those items to which a letter or Roman numeral is assigned in the balance sheet format adopted under Schedule 4 Part I, but in other respects corresponding to the full consolidated balance sheet.

14 A copy of the profit and loss account need not be delivered, nor a copy of the directors' report otherwise required by section 241.

15 The information required by Schedule 4 to be given in notes to group accounts need not be given, with the exception of any information required by provisions of that Schedule listed in paragraph 5 above.

16 There shall be disclosed in the modified balance sheet, or in a note to the group accounts delivered, aggregate amounts corresponding to those specified in paragraph 6 above.

17 The information required by Parts V and VI of Schedule 5 need not be given.

Medium-sized groups

18 (1) There may be delivered a copy of a modified profit and loss account, instead of a full consolidated profit and loss account prepared as under section 229.

(2) The modified profit and loss account shall, save for one exception, correspond to the full consolidated profit and loss account; and that exception is the combination as one item, under the heading " gross profit or loss", of the items listed in the profit and loss account formats set out in Schedule 4 Part I which are specified in paragraph 7(2) above.

19 The information required by paragraph 55 of Schedule 4 (particulars of turnover) need not be given.