SCHEDULE 1COMPANIES ACT INDIVIDUAL ACCOUNTS

PART 3NOTES TO THE ACCOUNTS

Information supplementing the balance sheet

Information about fair value of assets and liabilities51

1

This paragraph applies where financial instruments have been valued in accordance with paragraph 36 or 38.

2

There must be stated—

a

the significant assumptions underlying the valuation models and techniques used where the fair value of the instruments has been determined in accordance with paragraph 37(4),

b

for each category of financial instrument, the fair value of the instruments in that category and the changes in value—

i

included in the profit and loss account, or

ii

credited to or (as the case may be) debited from the fair value reserve,

in respect of those instruments, and

c

for each class of derivatives, the extent and nature of the instruments, including significant terms and conditions that may affect the amount, timing and certainty of future cash flows.

3

Where any amount is transferred to or from the fair value reserve during the financial year, there must be stated in tabular form—

a

the amount of the reserve as at the date of the beginning of the financial year and as at the balance sheet date respectively,

b

the amount transferred to or from the reserve during that year, and

c

the source and application respectively of the amounts so transferred.