The Building Societies (Accounts and Related Provisions) Regulations 1992
1Citation and commencement
2Interpretation
3Annual accounts
4Group accounts-supplementary provisions
5Notes to annual accounts
6Associated Bodies
7Accounting principles and rules
8Directors' report
9Annual business statement
10Summary financial statement
11Interpretation of Schedules
12Transitional provisions
13Further transitional provision
14Revocation
SCHEDULE 1
PART IFORMAT OF SOCIETY INCOME AND EXPENDITURE ACCOUNT
1Interest receivable (a) (i) On secured advances
2Interest payable (a) On retail funds and deposits
3Net interest receivable
4Income from associated bodies (a) Income from shares in subsidiary...
5Other income and charges (a) Fees and Commissions receivable
6Amortisation of intangible fixed assets
7Administrative expenses (a) Staff costs (i) Wages and salaries
8Provisions (a) Provisions for bad and doubtful debts
9Adjustments to provisions (a) Adjustments to provisions for bad and...
10Amounts written off fixed asset investments
11Adjustments to amounts written off fixed asset investments
12Profit or loss on ordinary activities before tax
13Tax on profit or loss on ordinary activities
14Profit or loss on ordinary activities after tax
15Extraordinary income
16Extraordinary charges
17Extraordinary profit or loss
18Tax on extraordinary profit or loss
19Extraordinary profit or loss after tax
20Other taxes not shown under the preceding items
21Profit or loss for the financial year
PART IIFORMAT OF CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT
1Interest receivable (a) (i) On secured advances
2Interest payable (a) On retail funds and deposits
3Net interest receivable
4Income from associated bodies (a) Income from shares in unconsolidated...
5Other income and charges (a) Fees and Commissions receivable
6Amortisation of intangible fixed assets
7Administrative expenses (a) Staff costs (i) Wages and salaries
8Provisions (a) Provisions for bad and doubtful debts
9Adjustments to provisions (a) Adjustments to provisions for bad and...
10Amounts written off fixed asset investments
11Adjustments to amounts written off fixed asset investments
12Profit or loss on ordinary activities before tax
13Tax on profit or loss on ordinary activities
14Profit or loss on ordinary activities after tax
15Minority interests
16Profit or loss before extraordinary items
17Extraordinary income
18Extraordinary charges
19Extraordinary profit or loss
20Tax on extraordinary profit or loss
21Extraordinary profit or loss after tax
22Minority interests in extraordinary profit or loss after tax
23Other taxes not shown under the preceding items
24Profit or loss for the financial year.
PART IIIPROVISIONS APPLICABLE TO PARTS I AND II
1(1) Item 1(a) and (b) in each of Part I...
2Item 1(a)(i) in Parts I and II shall include all...
3(1) Items 2(a) and (b) in each of Parts I...
4(1) Item 5(a) in Parts I and II shall include...
5Item 5(c) in each of Parts I and II shall...
6Items 5(d) and (e) in each of Parts I and...
7Item 6 in each of Parts I and II shall...
8Item 7(b) in each of Parts I and II shall...
9Item 8(a) in each of Parts I and II shall...
10Item 8(b) in each of Parts I and II shall...
11Item 9(a) in each of Parts I and II shall...
12Item 9(b) in each of Parts I and II shall...
13Item 10 shall comprise amounts written off in respect of...
14Item 11 shall include amounts written back following earlier write...
15In this Schedule “financial instrument” means— (a) in relation to...
16Where a heading in either Part I or Part II...
SCHEDULE 2
PART IFORMAT OF SOCIETY BALANCE SHEET
ASSETS
1LIQUID ASSETS (a) Cash in hand and balances with the...
2Commercial Assets
3OTHER ADVANCES SECURED ON LAND
4OTHER COMMERCIAL ASSETS (a) Loans for mobile homes
5INTANGIBLE FIXED ASSETS
6TANGIBLE FIXED ASSETS (a) Land and buildings
7OTHER ASSETS
8PREPAYMENTS AND ACCRUED INCOME
9TOTAL ASSETS
LIABILITIES
10Shares and Deposits
11NON-RETAIL FUNDS AND DEPOSITS (a) Amounts owed to credit institutions...
12OTHER LIABILITIES (a) Income tax (b) Corporation tax
13ACCRUALS AND DEFERRED INCOME
14PROVISIONS FOR LIABILITIES AND CHARGES (a) Provisions for pensions and...
15SUBORDINATED LIABILITIES
16SUBSCRIBED CAPITAL (a) Deferred shares issued on formation
17REVALUATION RESERVE
18RESERVES (a) General reserves (b) Other reserves
19TOTAL LIABILITIES
MEMORANDUM ITEMS
20CONTINGENT LIABILITIES (a) Guarantees and assets pledged as collateral security...
21COMMITMENTS
PART IIFORMAT OF CONSOLIDATED BALANCE SHEET
ASSETS
1LIQUID ASSETS (a) Cash in hand and balances with the...
2Commercial Assets
3OTHER ADVANCES SECURED ON LAND
4OTHER COMMERCIAL ASSETS (a) Loans for mobile homes
5OTHER OPERATING ASSETS (a) Loans (b) Other
6INTANGIBLE FIXED ASSETS
7TANGIBLE FIXED ASSETS (a) Land and buildings
8OTHER ASSETS
9PREPAYMENTS AND ACCRUED INCOME
10TOTAL ASSETS
LIABILITIES
11Shares and Deposits
12NON-RETAIL FUNDS AND DEPOSITS (a) Amounts owed to credit institutions...
13OTHER LIABILITIES (a) Income tax (b) Corporation tax
14ACCRUALS AND DEFERRED INCOME
15PROVISIONS FOR LIABILITIES AND CHARGES (a) Provisions for pensions and...
16SUBORDINATED LIABILITIES
17SUBSCRIBED CAPITAL (a) Deferred shares issued on formation
18REVALUATION RESERVE
19RESERVES (a) General reserves (b) Other reserves
20MINORITY INTERESTS
21TOTAL LIABILITIES
MEMORANDUM ITEMS
22CONTINGENT LIABILITIES (a) Guarantees and assets pledged as collateral security...
23COMMITMENTS
PART IIIPROVISIONS APPLICABLE TO PARTS I AND II
1The heading “Shares and Deposits” in the balance sheet in...
2(1) In respect of any asset or liability item, the...
3(1) This paragraph applies to Asset item 1 of Parts...
4In Asset items 2 and 3 in Parts I and...
5Within Asset item 4 of Parts I and II of...
6Mortgage finance rights (as defined in Part II of Schedule...
7Premises to which section 17(6) of the Act applies (and...
8(a) Asset item 5 in Part I and Asset item...
9Asset item 8 in Part I and Asset item 9...
10(1) Subject to paragraph 13 all liabilities of a subsidiary...
11(1) In Liability items 11 of Part I and 12...
12Liability item 13 in Part I and Liability item 14...
13(1) Liability item 15 in Part I and Liability item...
14Liability item 16(a) in Part I and Liability item 17(a)...
15Liability item 16(b) in Part I and Liability item 17(b)...
16Memorandum item 20 in Part I and Memorandum item 22...
17Memorandum item 20(a) in Part I and Memorandum item 22(a)...
18Memorandum item 21 in Part I and Memorandum item 23...
19(1) The following rules apply where a society (or the...
20(1) For the purpose of this paragraph “managed funds” are...
21(1) Where a society (or the society and its subsidiary...
SCHEDULE 3
PART IFORMAT OF SOCIETY STATEMENT OF THE SOURCE AND APPLICATION OF FUNDS
Source of Funds
1Increase in free capital
2Advances and loans repaid by borrowers
3Net receipts from retail funds and deposits
4Net receipts from non-retail funds and deposits
5Other items
6Total source of funds
Application of Funds
7Increase in liquid assets
8Advances and loans made to borrowers
9Increase in other commercial assets
10Other items
11Total application of funds Increase in Free Capital Source of...
12Profit on ordinary activities after tax
13Extraordinary profit after tax
14Adjustment for items not involving the movement of funds
15Funds generated from operations
16Funds from other sources (a) Disposal of tangible fixed assets...
17Application of Funds (a) Purchase of tangible fixed assets
18Increase in free capital.
PART IIFORMAT OF CONSOLIDATED STATEMENT OF THE SOURCE AND APPLICATION OF FUNDS
Source of Funds
1Increase in free capital
2Advances and loans repaid by borrowers
3Net receipts from retail funds and deposits
4Net receipts from non-retail funds and deposits
5Other items
6Total source of funds
Application of Funds
7Increase in liquid assets
8Advances and loans made to borrowers
9Increase in other commercial assets
10Increase in other operating assets
11Other items
12Total application of funds
Increase in Free Capital
13Source of Funds
14Extraordinary profit after tax
15Adjustment for items not involving the movement of funds:
16Funds generated from operations
17Funds from other sources (a) Disposal of tangible fixed assets...
18Application of Funds (a) Purchase of tangible fixed assets
19Increase in free capital
PART IIIPROVISIONS APPLICABLE TO PARTS I AND II
1In Parts I and II assets to which section 17(6)...
2In Part II— (a) any asset which arises from the...
3(1) No subordinated loan capital shall, in Part I or...
4Where subsidiary undertakings have been acquired or disposed of during...
5(1) There shall be inserted in the notes to the...
6(1) Where in any item in a statement in Part...
SCHEDULE 4FORM AND CONTENT OF THE ANNUAL ACCOUNTS OF A GROUP ACCOUNTS SOCIETY
1General Rules
2(1) Where assets and liabilities to be included in the...
3Any differences of accounting rules as between a society’s individual...
4Amounts which in the particular context of any provision of...
5Elimination of group transactions
6Acquisition accounting
8(1) The acquisition method of accounting is set out in...
9(1) Where a group is acquired paragraph 8 applies with...
10(1) The following information with respect to acquisitions taking place...
11(1) There shall be stated in a note to the...
12Where during the financial year there has been a disposal...
14For the purposes only of paragraphs 9, 10, 12 and...
15Minority interests
17Foreign Currency Translation
SCHEDULE 5NOTES TO ANNUAL ACCOUNTS
1Accounting policies
3Employees
4Aggregate amount of directors' emoluments
5Details of chairman’s and directors' emoluments
6Emoluments waived
7Pensions of directors and past directors
8Compensation to directors for loss of office
9Sums paid to third parties in respect of directors' services
10Supplementary provisions regarding directors' emoluments
11(1) The amounts to be shown for any financial year...
12Where the Chief Executive of the society is not also...
13Regulation 5(2)(b) shall not apply to paragraphs 4 to 12....
14Interpretation of provisions regarding directors' emoluments
15Other income and expenditure items
16Taxation
17Miscellaneous matters
18Liquid assets
19Commercial Assets
20Provisions for bad and doubtful debts
21Transferable securities
22Mortgage finance rights
23Investments in credit institutions
24Fixed assets
25Other assets
26Retail funds and deposits
27Non-retail funds and deposits
28Other liabilities
29Reserves and provisions
30Subordinated liabilities
31Subscribed capital
32Fixed Cumulative interest
33Details of assets charged
34Particulars shall be given of any charge on the assets...
35Guarantees and other financial commitments
36Memorandum items : Subsidiary undertakings
37Leasing transactions
38Assets and liabilities denominated in a currency other than sterling
39Where any amount to be included under any of the...
40Unmatured forward transactions
41Other miscellaneous matters
42Directors' loans and transactions
SCHEDULE 6NOTES TO ANNUAL ACCOUNTS: INFORMATION IN RESPECT OF ASSOCIATED BODIES
PART ISOCIETIES NOT REQUIRED TO PREPARE CONSOLIDATED ACCOUNTS
1Subsidiary undertakings
2Holdings in subsidiary undertakings
3Financial information about subsidiary undertakings
4Financial years of subsidiary undertakings
5Further information about subsidiary undertakings
6Significant holdings in undertakings other than subsidiary undertakings
7(1) The name of the undertaking shall be stated.
8(1) Where the society has a significant holding in an...
9Construction of references to shares held by society
PART IISOCIETIES REQUIRED TO PREPARE CONSOLIDATED ACCOUNTS
10Subsidiary undertakings
11Holdings in subsidiary undertakings
12Financial information about subsidiary undertakings not included in the consolidation
13Financial years of subsidiary undertakings
14Further information about subsidiary undertakings excluded from consolidation
15Associated undertakings
16Other significant holdings of society or group
17(1) The name of the undertaking shall be stated.
18(1) Where the society has a significant holding in an...
19(1) The information required by paragraphs 20 and 21 shall...
20(1) The name of the undertaking shall be stated.
21(1) Where the holding of the group amounts to 20...
22Construction of references to shares held by society or group
PART IIISUPPLEMENTARY PROVISIONS
23he information required by paragraphs 7, 17 and 20 of...
24For the purposes of paragraphs 5 and 14 of this...
SCHEDULE 7ACCOUNTING PRINCIPLES AND RULES
PART IACCOUNTING PRINCIPLES
1Subject to paragraph 7, the amounts to be included in...
2The society shall be presumed to be carrying on business...
3Accounting policies shall be applied consistently within the same accounts...
4(1) The amount of any item shall be determined on...
5Except so far as these Regulations otherwise specify, income and...
6In determining the aggregate amount of any item the amount...
PART IIDEPARTURE FROM ACCOUNTING PRINCIPLES
7If it appears to the directors of a society that...
PART IIIFIXED ASSETS
8General rules
9In the case of any fixed asset which has a...
10(1) Where a fixed asset investment of a description falling...
11Development costs
12Goodwill
13Financial fixed assets
PART IVCURRENT ASSETS
14he amount to be included in respect of loans and...
15(1) If the net realisable value of any current asset...
16(1) Subject to paragraph 15, the amount to be included...
PART VOTHER ACCOUNTING RULES
17General rules
18(1) Assets shall be shown under the relevant balance sheet...
19reliminary expenses, expenses of and commission on any issue of...
20Assets acquired in the name of and on behalf of...
21Excess of money owed over value received as an asset item
22Determination of cost
23(1) Subject to the qualification mentioned below, the cost of...
24To the extent that debt securities included in a society’s...
25Substitution of original amount where cost unknown
PART VIALTERNATIVE ACCOUNTING RULES
26he rules set out in paragraphs 8 to 25 of...
27Subject to paragraphs 29 and 30, the amounts to be...
28(1) Intangible fixed assets, other than goodwill, may be included...
29(1) Where the value of any asset of a society...
30(1) With respect to any determination of the value of...
PART VIIASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
31(1) Subject to the following subparagraphs, amounts to be included...
32(1) Subject to subparagraph (2), any difference between the amount...
SCHEDULE 8DIRECTORS' REPORT
1There shall be stated the names of the persons who,...
2The directors' report shall contain— (a) a statement of the...
3(1) If significant changes in the fixed assets of the...
4(1) The following applies if the society or any subsidiary...
5(1) Subject to subparagraphs (2) and (3), the directors' report...
6(1) This paragraph applies to the directors' report where the...
7(1) The directors' report shall disclose, in accordance with subparagraph...
8The directors' report shall also disclose the number of mortgage...
SCHEDULE 9ANNUAL BUSINESS STATEMENT
1Statutory ratios and percentages
2Other percentages
3Information relating to directors and other officers
4Average rates
5Information about new activities
SCHEDULE 10SUMMARY FINANCIAL STATEMENT
PART IFORMAT OF SUMMARY FINANCIAL STATEMENT
SECTION APRESCRIBED FORM OF STATEMENT FOR THE PURPOSES OF SECTION 76(4) OF THE ACT
1his summary financial statement is only a summary of information...
2In so far as this summary financial statement summarises the...
3The annual accounts, directors' report and annual business statement will...
SECTION BFORMAT OF SUMMARY DIRECTORS' REPORT
1Summary review of the business.
2Summary review of events.
3Summary indication of likely developments.
SECTION CFORMAT OF SUMMARY STATEMENT
SECTION DFORMAT OF SUMMARY OF KEY FINANCIAL RATIOS
PART IIPROVISIONS APPLICABLE TO PART I
1n section B of Part I— (a) the summary review...
2In sections C and D of Part I “year” means...
3Any amount or percentage required to be included in section...
4Sections C and D of Part I shall all be...
5Subject to paragraph 3, in section C of Part I—...
6Unless there are no extraordinary items in the income and...
7Subject to paragraph 3, in section D of Part I—...
8The basis used for calculating “average reserves” as defined in...
9The basis used for calculating “average total assets” as defined...
10In this Schedule “relevant year”, in relation to a summary...
SCHEDULE 11INTERPRETATION OF SCHEDULES
1The following paragraphs apply for the purposes of the interpretation...
3Capital
8Participating interest
9Provisions
10Scots land tenure
11Staff costs
12Amounts repayable
13Other definitions
1992 No. 359
BUILDING SOCIETIES

The Building Societies (Accounts and Related Provisions) Regulations 1992

Made
Laid before Parliament
Coming into force
The Building Societies Commission, with the consent of the Treasury, in exercise of the powers conferred on it by sections 73, 74(3) and (6), 75(1) and 76(3) of the Building Societies Act 19861, and of all other powers enabling it in that behalf, hereby makes the following Regulations: