SCHEDULES

SCHEDULE 4E+W+S Form and Content of Company Accounts

Modifications etc. (not altering text)

Part VIIE+W+S Interpretation of Schedule

ProvisionsE+W+S

88(1)References to provisions for depreciation or diminution in value of assets are to any amount written off by way of providing for depreciation or diminution in value of assets.

(2)Any reference in the profit and loss account formats set out in Part I of this Schedule to the depreciation of, or amounts written off, assets of any description is to any provision for depreciation or diminution in value of assets of that description.

89References to [F1provisions for liabilities] are to any amount retained as reasonably necessary for the purposes of providing for any liability [F2the nature of which is clearly defined and] which is either likely to be incurred, or certain to be incurred but uncertain as to amount or as to the date on which it will arise.

Textual Amendments

F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S

90—92.

Textual Amendments

F3Sch. 4 Pt. VII paras. 87, 90–92, 95 repealed (subject to the transitional and saving provisions mentioned in S.I. 1990/355, art. 5) by Companies Act 1989 (c. 40, SIF 27), ss. 212, 213(2), Sch. 24

Scots land tenureE+W+S

93 In the application of this Schedule to Scotland, “land of freehold tenure” means land in respect of which the company [F4is the proprietor of the dominium utile or, in the case of land not held on feudal tenure,]is the owner; “land of leasehold tenure” means land of which the company is the tenant under a lease [F4; and the reference to ground-rents, rates and other outgoings includes feu-duty and ground annual].

Textual Amendments