SCHEDULES
SCHEDULE 8FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES
PART IIACCOUNTING PRINCIPLES AND RULES
SECTION BHISTORICAL COST ACCOUNTING RULES
Fixed assets
Rules for determining particular fixed asset items20
1
Notwithstanding that an item in respect of “development costs” is included under “fixed assets” in the balance sheet formats set out in Part I, an amount may only be included in a small company's balance sheet in respect of development costs in special circumstances.
2
If any amount is included in a small company's balance sheet in respect of development costs the following information shall be given in a note to the accounts—
a
the period over which the amount of those costs originally capitalised is being or is to be written off; and
b
the reasons for capitalising the development costs in question.