The Small Companies and Groups (Accounts and Directors' Report) Regulations 2008

  1. Introductory Text

  2. PART 1 INTRODUCTION

    1. 1.Citation and interpretation

    2. 2.Commencement and application

  3. PART 2 FORM AND CONTENT OF INDIVIDUAL ACCOUNTS

    1. 3.Companies Act individual accounts

    2. 4.Information about related undertakings (Companies Act or IAS individual accounts)

    3. 5.Information about directors' benefits: remuneration (Companies Act or IAS individual accounts)

    4. 5A.Companies Act individual accounts: micro-entities – notes to the accounts

    5. 6.Accounts for delivery to registrar of companies (Companies Act individual accounts)

  4. PART 3 DIRECTORS' REPORT

    1. 7.Directors' report

  5. PART 4 FORM AND CONTENT OF GROUP ACCOUNTS

    1. 8.Companies Act group accounts

    2. 9.Information about directors' benefits: remuneration (Companies Act or IAS group accounts)

    3. 10.Information about related undertakings (Companies Act or IAS group accounts)

    4. 11.Accounts for delivery to registrar of companies (Companies Act group accounts)

  6. PART 5 INTERPRETATION

    1. 12.Definition of “provisions”

    2. 13.General interpretation

  7. Signature

    1. SCHEDULE 1

      COMPANIES ACT INDIVIDUAL ACCOUNTS

      1. PART 1 GENERAL RULES AND FORMATS

        1. SECTION A GENERAL RULES

          1. 1.(1) Subject to the following provisions of this Schedule—

          2. 1A.(1) Where appropriate to the circumstances of a company's business,...

          3. 1B.(1) The company's directors may adapt one of the balance...

          4. 1C.So far as is practicable, the following provisions of Section...

          5. 2.(1) Where in accordance with paragraph 1(1) a company's balance...

          6. 2A.Where in accordance with paragraph 1(1A) a company's balance sheet...

          7. 3.(1) Subject to paragraph 1A any item required to be...

          8. 4.(1) Where the special nature of the company's business requires...

          9. 5.(1) Subject to sub-paragraph (2), the directors must not include...

          10. 6.Every profit and loss account other than one prepared by...

          11. 7.(1) For every item shown in the balance sheet or...

          12. 8.Amounts in respect of items representing assets or income may...

          13. 9.The company's directors must, in determining how amounts are presented...

          14. 9A.Where an asset or liability relates to more than one...

        2. SECTION B The required formats for the accounts of companies other than micro-entities

          1. (Formats 1 and 2, items A and C.II.3.)

          2. This item may either be shown at item A or...

          3. (Formats 1 and 2, item B.I.1.)

          4. Amounts representing goodwill must only be included to the extent...

          5. (Formats 1 and 2, item B.I.2.)

          6. Amounts in respect of concessions, patents, licences, trade marks and...

          7. (Formats 1 and 2, items B.III.4 and C.III.2.)

          8. Where amounts in respect of own shares held are included...

          9. (Formats 1 and 2, items C.II.1 to 3.)

          10. The amount falling due after more than one year must...

          11. (Formats 1 and 2, item D.)

          12. This item may alternatively be included under item C.II.3 in...

          13. (Format 1, items E.4, H.4 and J and Format 2,...

          14. There must be shown separately— (a) the amount of any...

          15. Payments received on account of orders must be included in...

          16. In Format 1, accruals and deferred income may be shown...

          17. (Format 1, item F.)

          18. In determining the amount to be shown under this item...

          19. (Format 1, item K.I and Format 2, Liabilities item A.I.)...

          20. The amount of allotted share capital and the amount of...

          21. (Format 2, Liabilities items C.1 to 4.)

          22. Amounts falling due within one year and after one year...

          23. (Format 1, items 2, 4 and 5 ....)

          24. These items must be stated after taking into account any...

          25. (Format 1, items 9 and 10; Format 2, items 11...

          26. Income and interest derived from group undertakings must be shown...

          27. (Format 1, item 12; Format 2, item 14; ....)

          28. The amount payable to group undertakings must be shown separately....

          29. ...

        3. SECTION C THE REQUIRED FORMATS FOR THE ACCOUNTS OF MICRO-ENTITIES

          1. Balance Sheet Formats

            Format 1

          2. Format 2

          3. Profit and loss account format

      2. PART 2 ACCOUNTING PRINCIPLES AND RULES

        1. SECTION A ACCOUNTING PRINCIPLES

          1. 10.Preliminary

          2. 11.Accounting principles

          3. 12.Accounting policies and measurement bases must be applied consistently within...

          4. 13.The amount of any item must be determined on a...

          5. 14.All income and charges relating to the financial year to...

          6. 15.In determining the aggregate amount of any item, the amount...

          7. 15A.The opening balance sheet for each financial year shall correspond...

        2. SECTION B HISTORICAL COST ACCOUNTING RULES

          1. 16.Preliminary

        3. Fixed assets

          1. 17.General rules

          2. 18.Rules for depreciation and diminution in value

          3. 19.(1) Where a fixed asset investment of a description falling...

          4. 20.(1) Where the reasons for which any provision was made...

          5. 21.Intangible Assets

          6. 22.(1) Intangible assets must be written off over the useful...

          7. 23.Current assets

          8. 24.(1) If the net realisable value of any current asset...

        4. Miscellaneous and supplementary provisions

          1. 25.Excess of money owed over value received as an asset item

          2. 26.Assets included at a fixed amount

          3. 27.Determination of purchase price or production cost

          4. 28.(1) The purchase price or production cost of—

          5. 29.Substitution of original stated amount where price or cost unknown

          6. 29A. Equity method in respect of participating interests

        5. SECTION C ALTERNATIVE ACCOUNTING RULES

          1. 30.Preliminary

          2. 31.Subject to paragraphs 33 to 35, the amounts to be...

          3. 32.Alternative accounting rules

          4. 33.Application of the depreciation rules

          5. 34.Additional information to be provided in case of departure from historical cost accounting rules

          6. 35.Revaluation reserve

        6. SECTION D FAIR VALUE ACCOUNTING

          1. 36.Inclusion of financial instruments at fair value

          2. 37.Determination of fair value

          3. 38.Hedged items

          4. 39.Other assets that may be included at fair value

          5. 40.Accounting for changes in value

          6. 41.The fair value reserve

      3. PART 3 NOTES TO THE ACCOUNTS

        1. 42.Preliminary

        2. 43.Reserves and dividends

        3. 44.Disclosure of accounting policies

        4. Information supplementing the balance sheet

          1. 45.Paragraphs 48 to 57 require information which either supplements the...

          2. 46.Share capital

          3. 47.If the company has allotted any shares during the financial...

          4. 48.Fixed assets

          5. 49.Where any fixed assets of the company (other than listed...

          6. 50.Investments

          7. 51.Information about fair value of assets and liabilities

          8. 52.(1) This paragraph applies if— (a) the company has financial...

          9. 53.Information where investment property and living animals and plants included at fair value

          10. 54.Information about revalued fixed assets

          11. 55.Details of indebtedness

          12. 56.If any fixed cumulative dividends on the company's shares are...

          13. 57.Guarantees and other financial commitments

          14. 58.Miscellaneous matters

          15. 59.Information supplementing the profit and loss account

          16. 60.Particulars of turnover

          17. 61.Miscellaneous matters

          18. 62.Sums denominated in foreign currencies

          19. 63.Dormant companies acting as agents

          20. 64.Post balance sheet events

          21. 65.Parent undertaking information

          22. 66.Related party transactions

    2. SCHEDULE 2

      INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY NOT PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS INDIVIDUAL ACCOUNTS)

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    3. SCHEDULE 3

      INFORMATION ABOUT DIRECTORS' BENEFITS: REMUNERATION (COMPANIES ACT OR IAS ACCOUNTS)

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    4. SCHEDULE 4

      COMPANIES ACT ABBREVIATED ACCOUNTS FOR DELIVERY TO REGISTRAR OF COMPANIES

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    5. SCHEDULE 5

      MATTERS TO BE DEALT WITH IN DIRECTORS' REPORT

      1. 1.Introduction

      2. 2.Political donations and expenditure

      3. 3.(1) If the company (not being the wholly-owned subsidiary of...

      4. 4.Charitable donations

      5. 5.Disclosure concerning employment etc. of disabled persons

      6. 6.Disclosure required by company acquiring its own shares etc.

    6. SCHEDULE 6

      GROUP ACCOUNTS

      1. PART 1 FORM AND CONTENT OF COMPANIES ACT GROUP ACCOUNTS

        1. 1.General rules

        2. 2.(1) The consolidated balance sheet and profit and loss account...

        3. 3.(1) Where assets and liabilities to be included in the...

        4. 4.Any differences of accounting rules as between a parent company's...

        5. 5.Amounts that in the particular context of any provision of...

        6. 6.Elimination of group transactions

        7. 7.Acquisition and merger accounting

        8. 8.An acquisition must be accounted for by the acquisition method...

        9. 9.(1) The acquisition method of accounting is as follows.

        10. 10.The conditions for accounting for an acquisition as a merger...

        11. 11.(1) The merger method of accounting is as follows.

        12. 12.(1) Where a group is acquired, paragraphs 9 to 11...

        13. 13.(1) The following information with respect to acquisitions taking place...

        14. 14.(1) There must also be stated in a note to...

        15. 15.Where during the financial year there has been a disposal...

        16. 16.The information required by paragraph 13, 14 or 15 need...

        17. 16A.Where an acquisition has taken place in the financial year...

        18. 17.Non-controlling interests

        19. 18.Joint ventures

        20. 19.Associated undertakings

        21. 20.(1) The interest of an undertaking in an associated undertaking,...

        22. 20A.Deferred tax balances

        23. 20B.Related Party Transactions

      2. PART 2 INFORMATION ABOUT RELATED UNDERTAKINGS WHERE COMPANY PREPARING GROUP ACCOUNTS (COMPANIES ACT OR IAS GROUP ACCOUNTS)

        1. 21.Introduction and interpretation

        2. 22.Subsidiary undertakings

        3. 23.Holdings in subsidiary undertakings

        4. 24.Financial information about subsidiary undertakings not included in the consolidation

        5. 25.Shares of company held by subsidiary undertakings

        6. 26.Joint ventures

        7. 27.Associated undertakings

        8. 28.Other significant holdings of parent company or group

        9. 29.(1) The name of the undertaking must be stated.

        10. 30.(1) There must also be stated— (a) the aggregate amount...

        11. 31.(1) The information required by paragraphs 32 and 33 must...

        12. 32.(1) The name of the undertaking must be stated.

        13. 33.(1) There must also be stated— (a) the aggregate amount...

        14. 34.Parent company's or group's membership of certain undertakings

        15. 35.Parent undertaking drawing up accounts for larger group

        16. 36.Identification of ultimate parent company

        17. 37.Construction of references to shares held by parent company or group

    7. SCHEDULE 7

      INTERPRETATION OF TERM “PROVISIONS”

      1. PART 1 MEANING FOR PURPOSES OF THESE REGULATIONS

        1. 1.Definition of “Provisions”

        2. 2.References in these Regulations to provisions for liabilities are to...

        3. 2A.At the balance sheet date, a provision must represent the...

        4. 2B.Provisions must not be used to adjust the values of...

      2. PART 2 MEANING FOR PURPOSES OF PARTS 18 AND 23 OF THE 2006 ACT

        1. 3.Financial assistance for purchase of own shares

        2. 4.Redemption or purchase by private company out of capital

        3. 5.Justification of distribution by references to accounts

        4. 6.Realised losses

    8. SCHEDULE 8

      GENERAL INTERPRETATION

      1. 1.Financial instruments

      2. 2.(1) The expressions listed in sub-paragraph (2) have the same...

      3. 3.Fixed and current assets

      4. 4.Historical cost accounting rules

      5. 5.Listed investments

      6. 6.Loans

      7. 7.Materiality

      8. 8.Participating interests

      9. 9.Purchase price

      10. 10.Realised profits and losses

      11. 11.Staff costs

  9. Explanatory Note