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

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Summary profit and loss account under transitional arrangements

10.—(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, or, in the case of a company the directors of which are so required, a summary consolidated profit and loss account, showing, in so far as they may be derived from the full profit and loss account, amounts for the items set out in sub-paragraph (2) under such headings as the directors consider appropriate.

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

(a)the profit or loss for the financial year before taxation;

(b)taxation, that is the combined amount of the charge to revenue for United Kingdom taxation required to be shown by paragraph 14(1)(c) of Schedule 9A to the 1986 Order and the charge for taxation imposed out of the United Kingdom on profits, income and (so far as charged to revenue) capital gains required to be shown by that paragraph;

(c)the profit or loss for the financial year after taxation;

(d)extraordinary and exceptional items, that is the amounts required by paragraph 18(6)(a) of that Schedule; and

(e)dividends paid and proposed, that is the aggregate amount of dividends paid and proposed required by paragraph 14(1)(k) of that Schedule.

(3) 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).

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