CHAPTER 3BALANCE SHEET AND PROFIT AND LOSS ACCOUNT
Article 14Simplifications for small and medium-sized undertakings
1
Member States may permit small undertakings to draw up abridged balance sheets showing only those items in Annexes III and IV preceded by letters and roman numerals, disclosing separately:
a
the information required in brackets in D (II) under 'Assets' and C under 'Capital, reserves and liabilities' of Annex III, but in the aggregate for each; or
b
the information required in brackets in D (II) of Annex IV.
2
Member States may permit small and medium-sized undertakings to draw up abridged profit and loss accounts within the following limits:
a
in Annex V, items 1 to 5 may be combined under one item called 'Gross profit or loss';
b
in Annex VI, items 1, 2, 3 and 6 may be combined under one item called 'Gross profit or loss'.