Companies (Summary Financial Statement) Regulations (Northern Ireland) 1996

Regulation 9

SCHEDULE 2 Form and content of summary financial statement of banking companies and groups

Form of summary financial statement

1.—(1) The summary financial statement shall contain the information prescribed by the following paragraphs, in such order and under such headings as the directors consider appropriate, together with any other information necessary to ensure that the summary financial statement is consistent with the full accounts and reports for the financial year in question.

(2) Nothing in this Schedule shall be considered as prohibiting the inclusion in the summary financial statement of any additional information derived from the company’s annual accounts and the directors' report.

Summary directors' report

2.—(1) The summary financial statement shall contain the whole of, or a summary of, that portion of the directors' report for the year in question which set out the following matters—

(a) the matters required by Article 242(1)(a) of the 1986 Order (business review);

(b) the amount recommended to be paid as dividend, if not disclosed in the summary profit and loss account;

(c) the matters required by paragraph 6(a) of Schedule 7 to the 1986 Order (important post-balance sheet events); and

(d) the matters required by paragraph 6(b) of that Schedule (likely future developments in the business).

(2) The summary financial statement shall also contain the list of names of directors required by Article 242(2) of the 1986 Order.

Summary profit and loss account: companies not required to prepare group accounts

3.—(1) The summary financial statement shall contain, in the case of a company the directors of which are not required to prepare group accounts for the financial year, a summary profit and loss account showing, in so far as they may be derived from the full profit and loss account, the items, or combinations of items, listed in sub-paragraph (3), in the order set out in that sub-paragraph.

(2) The items or combinations of items listed in sub-paragraph (3) may appear under such headings as the directors consider appropriate.

(3) The items, or combinations of items, referred to in sub-paragraph (1) are—

(a) interest receivable and payable:

• the net figure resulting from the combination of the following two items—

  • format 1, items 1 and 2

  • format 2, items A1 and B1;

(b) dividend income, fees and commissions receivable and payable, dealing profits or losses and other operating income:

• format 1, items 3, 4, 5, 6 and 7

• format 2, items A2, A3, B2, B3, B4 and B7;

(c) administrative expenses, depreciation and amortisation, other operating charges, amounts written off, and adjustments to amounts written off, fixed asset investments:

• the net figure resulting from the combination of the following items—

  • format 1, items 8, 9, 10, 13 and 14

  • format 2, items A4, A5, A6, A8 and B6;

(d) provisions and adjustments to provisions:

• the net figure resulting from the combination of the following two items—

  • format 1, items 11 and 12

  • format 2, items A7 and B5;

(e) profit or loss on ordinary activities before tax:

• format 1, item 15

• format 2, item A9 or B8;

(f) tax on profit or loss on ordinary activities:

• format 1, item 16

• format 2, item A10;

(g) profit or loss on ordinary activities after tax:

• format 1, item 17

• format 2, items A11 or B9;

(h) extraordinary profit or loss after tax:

• format 1, item 22

• the net figure resulting from the combination of format 2, items A14 and B11;

(i) other taxes not shown under the preceding items:

• format 1, item 23

• format 2, item A15;

(j) profit or loss for the financial year:

• format 1, item 24

• format 2, item A16 or B12; and

(k) the aggregate amount of dividends paid and, if not disclosed in the summary directors' report, proposed.

(4) The summary profit and loss account shall also show, at the end thereof and under such heading as the directors consider appropriate, the figure required by paragraph 1(1) of Part I of Schedule 6 to the 1986 Order (directors' emoluments).

Summary profit and loss account: companies required to prepare group accounts

4.—(1) The summary financial statement shall contain, in the case of a company the directors of which are required to prepare group accounts for the financial year, a summary consolidated profit and loss account showing the items, or combinations of items required by paragraph 3, in the order required by that paragraph and under such headings as the directors consider appropriate, but with the modifications specified in sub-paragraph (2).

(2) The modifications referred to in sub-paragraph (1) are as follows—

(a) between the information required by paragraph 3(3)(d) and that required by paragraph 3(3)(e) there shall in addition be shown, under such heading as the directors consider appropriate, the item “Income from associated undertakings” required to be shown in the Schedule 9 formats by paragraph 3(7)(ii) of Part II of Schedule 9 to the 1986 Order(1);

(b) between the information required by paragraph 3(3)(g) and that required by paragraph 3(3)(h) there shall in addition be shown, under such heading as the directors consider appropriate, the item “Minority interests” required to be shown in the Schedule 9 formats by paragraph 17(3) of Schedule 4A to the 1986 Order as adapted by paragraph 3(3) of Part II of Schedule 9 to that Order; and

(c) the figures required by paragraph 3(3)(h) and (i) shall each be shown after the deduction or the addition (as the case may be) of the item “Minority interests” required to be shown in the Schedule 9 formats by paragraph 17(4) of Schedule 4A to the 1986 Order as adapted by paragraph 3(4) of Part II of Schedule 9 to that Order.

Summary balance sheet: companies not required to prepare group accounts

5.—(1) The summary financial statement shall contain, in the case of a company the directors of which are not required to prepare group accounts for the financial year, a summary balance sheet which shall show, in so far as they may be derived from the full balance sheet, the items, or combinations of items, set out in sub-paragraph (2), in the order set out in that sub-paragraph and under such headings as the directors consider appropriate.

(2) The items, or combinations of items, referred to in sub-paragraph (1) are as follows—

(a) cash and balances at central [or post office] banks, treasury bills and other eligible bills:

• the aggregate items 1 and 2 under the heading “ASSETS”;

(b) loans and advances to banks:

• item 3 under the heading “ASSETS”;

(c) loans and advances to customers:

• item 4 under the heading “ASSETS”;

(d) debt securities [and other fixed income securities], equity shares [and other variable-yield securities]; participating interests and shares in group undertakings:

• the aggregate of items 5, 6, 7 and 8 under the heading “ASSETS”;

(e) intangible and tangible fixed assets:

• the aggregate of items 9 and 10 under the heading “ASSETS”;

(f) called up capital not paid, own shares, other assets, prepayments and accrued income:

• the aggregate of items 11 (or 14), 12, 13 and 15 under the heading “ASSETS”;

(g) total assets under the heading “ASSETS”;

(h) deposits by banks:

• item 1 under the heading “LIABILITIES”;

(i) customer accounts:

• item 2 under the heading “LIABILITIES”;

(j) debt securities in issue:

• item 3 under the heading “LIABILITIES”;

(k) other liabilities, accruals and deferred income and provisions for liabilities and charges:

• the aggregate of items 4, 5 and 6 under the heading “LIABILITIES”;

(l) subordinated liabilities:

• item 7 under the heading “LIABILITIES”;

(m) called up share capital, share premium account, reserves, revaluation reserve and profit and loss account:

• the aggregate of items 8, 9, 10, 11 and 12 under the heading “LIABILITIES”;

(n) total liabilities under the heading “LIABILITIES”;

(o) contingent liabilities:

• item 1 under the heading “MEMORANDUM ITEMS”; and

(p) commitments:

• item 2 under the heading “MEMORANDUM ITEMS”.

Summary balance sheet: companies required to prepare group accounts

6.—(1) The summary financial statement shall contain, in the case of a company the directors of which are required to prepare group accounts for the financial year, a summary consolidated balance sheet showing the items required by paragraph 5, in the order required by that paragraph and under such headings as the directors consider appropriate, but with the addition specified in sub-paragraph (2).

(2) Between the items required by paragraph 5(2)(l) and (m) or after the item required by paragraph 5(2)(m) (whichever is the position adopted for the full accounts), there shall in addition be shown under an appropriate heading the item “Minority interests” required to be shown in the Schedule 9 format by paragraph 17(2) of Schedule 4A to the 1986 Order, as adapted by paragraph 3(2) of Part II of Schedule 9 to the 1986 Order.

Corresponding amounts

7.  In respect of every item shown in the summary profit and loss account or summary consolidated profit and loss account (as the case may be), or in the summary balance sheet or summary consolidated balance sheet (as the case may be) the corresponding amount shall be shown for the immediately preceding financial year; for this purpose “the corresponding amount” is the amount shown in the summary financial statement for that year or which would have been so shown had such a statement been prepared for that year, after any adjustments necessary to ensure that that amount is comparable with the item for the financial year in question.

(1)

A new Schedule 9 was inserted into the 1986 Order by regulation 5 of, and Schedule 1 to, S.R. 1992 No. 258