SCHEDULES
F1F1SCHEDULE 4
Annotations:
Amendments (Textual)
Part II Accounting Principles and Rules
Section B Historical Cost Accounting Rules
Miscellaneous and supplementary provisions
25
1
Subject to the following sub-paragraph, assets which fall to be included—
a
amongst the fixed assets of a company under the item “tangible assets”; or
b
amongst the current assets of a company under the item “raw materials and consumables”;may be included at a fixed quantity and value.
2
Sub-paragraph (1) applies to assets of a kind which are constantly being replaced, where—
a
their overall value is not material to assessing the company’s state of affairs; and
b
their quantity, value and composition are not subject to material variation.
Determination of purchase price or production cost
Sch. 4 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)