C12C5C6C7C8Part 15Accounts and reports

Annotations:
Modifications etc. (not altering text)
C12

Pt. 15 applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 162, 163 (with reg. 189)

C6

Pt. 15 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1

C7

Pt. 15 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)

C4C10C13C14 Chapter 4Annual accounts

Annotations:
Modifications etc. (not altering text)
C10

Pt. 15 Ch. 4 applied (with modifications) (31.7.2015) by The European Grouping of Territorial Cooperation Regulations 2015 (S.I. 2015/1493), regs. 1(2), 7(1) (with reg. 11)

C13

Pt. 15 Ch. 4 applied (with modifications) by S.I. 2008/565, reg. 3 (as substituted (with effect in accordance with reg. 2(4) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 2 para. 3 (with reg. 2(6)(7)))

C14

Pt. 16 Ch. 1 applied (with modifications) (E.W.S.) (1.10.2018) by The Occupational Pension Schemes (Master Trusts) Regulations 2018 (S.I. 2018/1030), regs. 1(2), 9(4)-(8)

Individual accounts

I1C1C2C9C11C15396Companies Act individual accounts

F3A1

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.

C32

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.

F12A

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.

F26

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.