C1SCHEDULE 1COMPANIES ACT INDIVIDUAL ACCOUNTS
Annotations:
Modifications etc. (not altering text)
PART 2ACCOUNTING PRINCIPLES AND RULES
Fixed assets
F122
1
Intangible assets must be written off over the useful economic life of the intangible asset.
2
Where in exceptional cases the useful life of intangible assets cannot be reliably estimated, such assets must be written off over a period chosen by the directors of the company.
3
The period referred to in sub-paragraph (2) must not exceed ten years.
4
There must be disclosed in a note to the accounts the period referred to in sub-paragraph (2) and the reasons for choosing that period.
Sch. 1 applied (with modifications) (E.W.S.) (with application in accordance with reg. 2(2) of the amending S.I.) by The Small Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1912), regs. 2(1), 3(2), Sch. 1 (with reg. 2(3)) (as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 34-41)