SCHEDULES

SCHEDULE 6 [Schedule 8 to the Companies Act 1985]Exemptions for Small and Medium-sized Companies

Part II Small Companies

Profit and loss account

5

The company may deliver a profit and loss account in which the following items listed in the profit and loss account formats set out in Part I of Schedule 4 are combined as one item under the heading “gross profit or loss”—

  • Items 1, 2, 3 and 6 in Format 1;

  • Items 1 to 5 in Format 2;

  • Items A.1, B.1 and B.2 in Format 3;

  • Items A.1, A.2 and B.1 to B.4 in Format 4.

Disclosure of information in notes to accounts

6

The information required by paragraph 55 of Schedule 4 (particulars of turnover) need not be given.