Statement that advantage taken of exemptionsE+W+S
7(1)Where the directors of a company take advantage of the exemptions conferred by Part I or Part II of this Schedule, the company’s balance sheet shall contain—
(a)a statement that advantage is taken of the exemptions conferred by Part I or, as the case may be, Part II of this Schedule, and
(b)a statement of the grounds on which, in the directors’ opinion, the company is entitled to those exemptions.
(2)The statements shall appear in the balance sheet immediately above the signature required by section 233.