Companies Act 1985

742 Expressions used in connection with accounts

(1) In this Act, unless the contrary intention appears—

(a) " accounting reference period " has the meaning given by sections 224 to 226 ;

(b) " accounts" includes a company's group accounts (within the meaning of section 229), whether prepared in the form of accounts or not;

(c) " balance sheet date ", in relation to a balance sheet, means the date as at which the balance sheet was prepared;

(d) " financial year "—

(i) in relation to a body corporate to which Part VII applies, means a period in respect of which a profit and loss account under section 227 in that Part is made up, and

(ii) in relation to any other body corporate, means a period in respect of which a profit and loss account of the body laid before it in general meeting is made up,

(whether, in either case, that period is a year or not);

(e) any reference to a profit and loss account, in the case of a company not trading for profit, is to its income and expenditure account, and references to profit or loss and, if the company has subsidiaries, references to a consolidated profit and loss account are to be construed accordingly.

(2) Except in relation to special category accounts, any reference to a balance sheet or profit and loss account includes any notes to the account in question giving information which is required by any provision of this Act, and required or allowed by any such provision to be given in a note to company accounts.

(3) In relation to special category accounts, any reference to a balance sheet or profit and loss account includes any notes thereon or document annexed thereto giving information which is required by this Act and is thereby allowed to be so given.

(4) References to special category companies and special category accounts are to be construed in accordance with Chapter II of Part VII.

(5) For the purposes of Part VII, a body corporate is to be regarded as publishing any balance sheet or other account if it publishes, issues or circulates it or otherwise makes it available for public inspection in a manner calculated to invite members of the public generally, or any class of members of the public, to read it.

(6) Expressions which, when used in Schedule 4, fall to be construed in accordance with any provision of Part VII of that Schedule have the same meaning (unless the contrary intention appears) when used in any provision of this Act.