The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 No. 410

SCHEDULE 3 U.K. INSURANCE COMPANIES: COMPANIES ACT INDIVIDUAL ACCOUNTS

PART 2 U.K. ACCOUNTING PRINCIPLES AND RULES

SECTION D U.K. HISTORICAL COST ACCOUNTING RULES

Valuation of assets U.K.

General rules U.K.

36.—(1) The rules in this Section are “the historical cost accounting rules”.

(2) Subject to any provision for depreciation or diminution in value made in accordance with paragraph 37 or 38, the amount to be included in respect of any asset in the balance sheet format is its cost.