SCHEDULES
F1X1SCHEDULE 8 Exemptions for Small and Medium-Sized Companies
Sch. 8 substituted (subject to the transitional and saving provisions mentioned in S.I. 1990/355, arts. 6–9) by Companies Act 1989 (c. 40, SIF 27), ss. 13(2), 213(2), Sch. 6
F2SECTION B GROUP ACCOUNTS
Sch. 8: New Pt. I (paras. 1-14) inserted (16.11.1992) by S.I. 1992/2452, reg. 4(3), Sch. paras. 1(3), 2
F313
1
Subject to sub-paragraph (2), where a small company—
a
has prepared individual accounts for a financial year in accordance with any exemptions set out in Section A of this Part of this Schedule, and
b
is preparing group accounts in respect of the same year,
it may prepare those group accounts in accordance with the exemptions set out in Section A of this Part of this Schedule.
2
In preparing the consolidated balance sheet the company—
a
when using either balance sheet format set out in Section B of Part I of Schedule 4, shall not combine item B.III.1 (shares in group undertakings) with item B.III.3 (participating interests), and
b
when applying the exemptions set out in paragraphs 3(4)(b) and 4(4)(b) of Section A of this Part of this Schedule, shall read the reference in each paragraph to the new item mentioned in paragraph (a) as a reference to the two items which will in each case replace item B.III.3 by virtue of paragraph 21 of Schedule 4A.
3
Paragraph 1(1) of Schedule 4A shall have effect subject to the exemptions in question.
Sch. 8: the earliest available versions of Sch. 8 and its contents are those having effect on 16.11.1992