SCHEDULES
F1X1 SCHEDULE 8FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES
Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
PART II ACCOUNTING PRINCIPLES AND RULES
Section A Accounting Principles
Accounting principles
F210
The company shall be presumed to be carrying on business as a going concern.
F311
Accounting policies shall be applied consistently within the same accounts and from one financial year to the next.
F412
The amount of any item shall be determined on a prudent basis, and in particular—
a
only profits realised at the balance sheet date shall be included in the profit and loss account; and
b
all liabilities and losses which have arisen or are likely to arise in respect of the financial year to which the accounts relate or a previous financial year shall be taken into account, including those which only become apparent between the balance sheet date and the date on which it is signed on behalf of the board of directors in pursuance of section 233 of this Act.
F513
All income and charges relating to the financial year to which the accounts relate shall be taken into account, without regard to the date of receipt or payment.
F614
In determining the aggregate amount of any item the amount of each individual asset or liability that falls to be taken into account shall be determined separately.
Sch. 8: the earliest available versions of Sch. 8 and its contents are those having effect on 16.11.1992