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- Point in Time (28/09/2015)
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Version Superseded: 17/05/2016
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[F1(A1)Companies Act individual accounts must state—
(a)the part of the United Kingdom in which the company is registered,
(b)the company’s registered number,
(c)whether the company is a public or a private company and whether it is limited by shares or by guarantee,
(d)the address of the company’s registered office, and
(e)where appropriate, the fact that the company is being wound-up.]
(1)Companies Act individual accounts must comprise—
(a)a balance sheet as at the last day of the financial year, and
(b)a profit and loss account.
(2)The accounts must—
(a)in the case of the balance sheet, give a true and fair view of the state of affairs of the company as at the end of the financial year, and
(b)in the case of the profit and loss account, give a true and fair view of the profit or loss of the company for the financial year.
[F2(2A)In the case of the individual accounts of a company which qualifies as a micro-entity in relation to the financial year (see sections 384A and 384B), the micro-entity minimum accounting items included in the company’s accounts for the year are presumed to give the true and fair view required by subsection (2).]
(3)The accounts must comply with provision made by the Secretary of State by regulations as to—
(a)the form and content of the balance sheet and profit and loss account, and
(b)additional information to be provided by way of notes to the accounts.
(4)If compliance with the regulations, and any other provision made by or under this Act as to the matters to be included in a company's individual accounts or in notes to those accounts, would not be sufficient to give a true and fair view, the necessary additional information must be given in the accounts or in a note to them.
(5)If in special circumstances compliance with any of those provisions is inconsistent with the requirement to give a true and fair view, the directors must depart from that provision to the extent necessary to give a true and fair view.
Particulars of any such departure, the reasons for it and its effect must be given in a note to the accounts.
[F3(6)Subsections (4) and (5) do not apply in relation to the micro-entity minimum accounting items included in the individual accounts of a company for a financial year in relation to which the company qualifies as a micro-entity.]
Textual Amendments
F1S. 396(A1) inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 5(4) (with reg. 3)
F2S. 396(2A) inserted (with effect in accordance with reg. 2(2) of the amending S.I.) by The Small Companies (Micro-Entities' Accounts) Regulations 2013 (S.I. 2013/3008), regs. 2(1), 5(3)(a) (with reg. 3)
F3S. 396(6) inserted (with effect in accordance with reg. 2(2) of the amending S.I.) by The Small Companies (Micro-Entities' Accounts) Regulations 2013 (S.I. 2013/3008), regs. 2(1), 5(3)(b) (with reg. 3)
Modifications etc. (not altering text)
C1Ss. 394-397 applied (with modifications) (1.10.2009) by The Overseas Companies regulations 2009 (S.I. 2009/1801), {reg. 38} (with Sch. 8)
C2Ss. 394-397 applied (with modifications) (1.10.2009) by The Overseas Companies Regulations 2009 (S.I. 2009/1801), reg. 53 (with Sch. 8)
C3Ss. 380-416 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 10 (with transitional provisions and savings in regs. 7, 9, Sch. 2)
C4Ss. 380-414 applied (with modifications) (1.10.2009) by S.I. 2009/2436, regs. 3-5, Sch 1 para. 10 (with reg. 7, Sch. 2) (and the said Sch. 1 para. 10 is amended (with application in accordance with reg. 1(3) of the amending S.I.) by The Unregistered Companies (Amendment) Regulations 2013 (S.I. 2013/1972), regs. 1(2), 2(2)(a))
C5S. 396(2) applied (6.4.2008) by The Companies (Revision of Defective Accounts and Reports) Regulations 2008 (S.I. 2008/373), reg. 3(2)(a)(ii)
Commencement Information
I1S. 396 wholly in force at 6.4.2008; s. 396 not in force at Royal Assent, see s. 1300; s. 396 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 396 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(d) (with arts. 7, 12, Sch. 4 paras. 6-8)
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