The Registered Housing Associations (Accounting Requirements) Order 1992

PART III BALANCE SHEET AND INCOME AND EXPENDITURE ACCOUNT

Balance sheet

13.—(1) Subject to article 15, the balance sheet of every association shall—

(a) include headings and sub-headings corresponding to the items listed in Format 1 of Part I of Schedule 4 to the Companies Act 1985(1);

(b) show the amount of the items listed under those headings; and

(c) items A to G in Format 1 shall be presented so as to show the total of those items separately from items H to K.

Income and expenditure account

14.  Subject to article 15, the income and expenditure account of every association shall—

(a) include headings and sub-headings corresponding to the items listed in Format 1 of Part I of Schedule 4 to the Companies Act 1985 where the items are listed by reference to the activities of the association or, in any other case, Format 2 of that Part;

(b) show the amount of the items listed under those headings;

(c) show the amount of the surplus or deficit of the association in respect of the ordinary activities of the association before taxation; and

(d) show separately as additional items any amount set aside or proposed to be set aside to or withdrawn from reserves.

Balance sheet and income and expenditure account

15.  Articles 13 and 14 are not to be read as requiring the heading or sub-heading for any item to be distinguished by any letter or number assigned to that item in the format used.

16.—(1) Subject to paragraph (2), in respect of every item shown in the balance sheet or the income and expenditure account, the corresponding amount for the previous period of account to that to which the balance sheet or the income and expenditure account relates shall be shown.

(2) An item listed in the format adopted in preparing the balance sheet or income and expenditure account shall not be included if there is no amount to be shown for that item in respect of the period of account and in respect of the previous period of account.

(3) Items to which Arabic numbers are assigned in the format adopted may be combined in an association’s accounts for a period of account if—

(a) their individual amounts are not material to assess the state of affairs or surplus or deficit of the association; or

(b) the combination facilitates that assessment, but in this case the individual items so combined shall be shown in the notes to the accounts.

(4) In preparing an association’s balance sheet or income and expenditure account the headings and sub-headings otherwise required under articles 13 and 14 in respect of items to which an Arabic number is assigned may be adapted where the special nature of the association’s business requires such adaptation.

(1)

Schedule 4 paragraph 8 (Formats) was amended by the Companies Act 1989 (c. 40), Schedule 1, paragraphs 1 to 4.