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Companies Act 1985

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Changes over time for: Paragraph 51

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Version Superseded: 01/10/2005

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Status:

Point in time view as at 06/04/1997. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Paragraph 51. Help about Changes to Legislation

F151(1)Where sums originally denominated in foreign currencies have been brought into account under any items shown in the balance sheet or profit and loss account, the basis on which those sums have been translated into sterling shall be stated.

(2)Subject to the following sub-paragraph, in respect of every item stated in a note to the accounts the corresponding amount for the financial year immediately preceding that to which the accounts relate shall also be stated and where the corresponding amount is not comparable, it shall be adjusted and particulars of the adjustment and the reasons for it shall be given.

(3)Sub-paragraph (2) does not apply in relation to any amounts stated by virtue of any of the following provisions of this Act—

(a)paragraph 13 of Schedule 4A (details of accounting treatment of acquisitions),

(b)paragraphs 2, 8(3), 16, 21(1)(d), 22(4) and (5), 24(3) and (4) and 27(3) and (4) of Schedule 5 (shareholdings in other undertakings),

(c)Parts II and III of Schedule 6 (loans and other dealings in favour of directors and others), and

(d)paragraphs 40 and 43 above (fixed assets and reserves and provisions).

Textual Amendments

F1Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1

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