Prospective
Adjustment of prior year items in small company balance sheet and profit and loss accountE+W+S
This section has no associated Explanatory Memorandum
5. In paragraph 4(2) of Schedule 8 to the 1985 Act (requirement to adjust non-comparable corresponding amounts in balance sheet and profit and loss account of small company)(1)—
(a)for “shall be adjusted” substitute “may be adjusted”, and
(b)for “particulars of the adjustment and the reasons for it” substitute “particulars of the non-comparability and of any adjustment”.
Commencement Information
I1Reg. 5 in force at 1.10.2005, see reg. 1(3)
(1)
Schedule 8 was substituted by regulation 2(2) of, and Schedule 1 to, S.I. 1997/220.