F1mod. SR 1986/305
F5Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16 and the repeal being partly in force, as to which see individual Articles (with savings (with adaptations) by Companies Act 2006 (Commencement No. 6, Saving and Commencement Nos. 3 and 5 (Amendment)) Order 2008 (S.I. 2008/674), arts. 2(3), {4}, Sch. 2) and subject to amendments (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 paras. 135, 147, 148 {Sch. 2 Note 1} (with arts. 6, 11, 12) and subject to amendments (6.4.2008) by S.R. 2008/133, {regs. 2, 3}
52. Paragraphs 53 to 57 require information which either supplements the information given with respect to any particular items shown in the profit and loss account or otherwise provides particulars of income or expenditure of the company or of circumstances affecting the items shown in the profit and loss account.
53.—(1) Subject to the following provisions of this paragraph, each of the amounts mentioned below shall be stated.
(2) The amount of the interest on or any similar charges in respect of—
(a)bank loans and overdrafts,F2. . . and
(b)loans of any other kind made to the company.
This sub-paragraph does not apply to interest or charges on loans to the company from[F3 group undertakings], but, with that exception, it applies to interest or charges on all loans, whether made on the security of debentures or not.
Sub-paras. (3)‐(6) rep. by SR 1997/314
Sub-para. (7) rep. by 1990 NI 10
54. Sub-para. (1) rep. by SR 1997/314
(2) Particulars shall be given of any special circumstances which affect liability in respect of taxation of profits, income or capital gains for the financial year or liability in respect of taxation of profits, income or capital gains for succeeding financial years.
(3) The following amounts shall be stated—
(a)the amount of the charge for United Kingdom corporation tax;
(b)if that amount would have been greater but for relief from double taxation, the amount which it would have been but for such relief;
(c)the amount of the charge for United Kingdom income tax; and
(d)the amount of the charge for taxation imposed outside the United Kingdom of profits, income and (so far as charged to revenue) capital gains.
These amounts shall be stated separately in respect of each of the amounts which is or would but for paragraph 3(4)(b) be shown under the following items in the profit and loss account, that is to say “tax on profit or loss on ordinary activities” and “tax on extraordinary profit or loss”.
55.—(1) If in the course of the financial year the company has carried on business of two or more classes that, in the opinion of the directors, differ substantially from each other, there shall be stated in respect of each class (describing it)—
(a)the amount of the turnover attributable to that class;F4. . .
Head (b) rep. by SR 1997/314
(2) If in the course of the financial year the company has supplied markets that, in the opinion of the directors, differ substantially from each other, the amount of the turnover attributable to each such market shall also be stated.
In this paragraph “market” means a market delimited by geographical bounds.
(3) In analysing for the purposes of this paragraph the source (in terms of business or in terms of market) of turnoverF4. . . , the directors of the company shall have regard to the manner in which the company's activities are organised.
(4) For the purposes of this paragraph—
(a)classes of business which, in the opinion of the directors, do not differ substantially from each other shall be treated as one class; and
(b)markets which, in the opinion of the directors, do not differ substantially from each other shall be treated as one market,
and any amounts properly attributable to one class of business or (as the case may be) to one market which are not material may be included in the amount stated in respect of another.
(5) Where in the opinion of the directors the disclosure of any information required by this paragraph would be seriously prejudicial to the interests of the company, that information need not be disclosed, but the fact that any such information has not been disclosed must be stated.
F4SR 1997/314
Para. 56 rep. by SR 2004/496
57.—(1) Where any amount relating to any preceding financial year is included in any item in the profit and loss account, the effect shall be stated.
(2) Particulars shall be given of any extraordinary income or charges arising in the financial year.
(3) The effect shall be stated of any transactions that are exceptional by virtue of size or incidence though they fall within the ordinary activities of the company.