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Companies Act 1985
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- UK Public General Acts
- 1985 c. 6
- SCHEDULE 8
- PART III
- Investments
- Paragraph 42B
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Valid from 12/11/2004
42B(1)Sub-paragraph (2) applies if–
(a)the company has financial fixed assets that could be included at fair value by virtue of paragraph 34A,
(b)the amount at which those assets are included under any item in the company’s accounts is in excess of their fair value, and
(c)the company has not made provision for diminution in value of those assets in accordance with paragraph 19(1) of this Schedule.
(2)There must be stated–
(a)the amount at which either the individual assets or appropriate groupings of those individual assets are included in the company’s accounts,
(b)the fair value of those assets or groupings, and
(c)the reasons for not making a provision for diminution in value of those assets, including the nature of the evidence that provides the basis for the belief that the amount at which they are stated in the accounts will be recovered.
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