The Companies, Partnerships and Groups (Accounts and Reports) (No. 2) Regulations 2015

Amendments to Schedules 1, 2 and 3 to the Large and Medium-sized Companies Accounts Regulations

4.—(1) Schedule 1 (Companies Act individual accounts: companies which are not banking or insurance companies) to the Large and Medium-sized Companies Accounts Regulations is amended in accordance with paragraph (2).

(2) In Section B of Part 2 (accounting principles and rules: historical cost accounting rules), in paragraph 20(1) (fixed assets: rules for depreciation and diminution in value), after sub-paragraph (1) insert—

“(1A) But provision made in accordance with paragraph 19(2) in respect of goodwill must not be written back to any extent.”.

(3) Schedule 2 (banking companies: Companies Act individual accounts) to those Regulations is amended in accordance with paragraph (4).

(4) In Section B of Part 2 (accounting principles and rules: historical cost accounting rules), in paragraph 26(2) (fixed assets: rules for depreciation and diminution in value), after sub-paragraph (1) insert—

“(1A) But provision made in accordance with paragraph 25(3) in respect of goodwill must not be written back to any extent.”.

(5) Schedule 3 (insurance companies: Companies Act individual accounts) to those Regulations is amended in accordance with paragraph (6).

(6) In Section D of Part 2 (accounting principles and rules: historical cost accounting rules), in paragraph 39 (valuation of assets: general rules), after sub-paragraph (1) insert—

“(1A) But provision made in accordance with paragraph 38(2) or (3) in respect of goodwill must not be written back to any extent.”.

(1)

Paragraph 20 was amended by regulation 28 of S.I. 2015/980.

(2)

Paragraph 26 was amended by regulation 32 of S.I. 2015/980.