The Companies (Summary Financial Statement) Regulations 2008

Regulation 11(9)

SCHEDULE 8 FORM AND CONTENT OF SUMMARY FINANCIAL STATEMENT OF COMPANY PREPARING IAS GROUP ACCOUNTS

Summary profit and loss account

1.—(1) The summary financial statement must contain a summary consolidated profit and loss account showing either—

(a) each of the headings and sub-totals included in the full consolidated profit and loss account in accordance with international accounting standards, or

(b) where the directors consider it appropriate, a combination of such headings and sub-totals where they are of a similar nature.

(2) The summary financial statement must also contain the information concerning recognised and proposed dividends included in the full accounts and reports.

(3) In this paragraph and in paragraph 2, the expressions “headings” and “subtotals” have the same meaning as in international accounting standard 1 on the presentation of financial statements.

Summary balance sheet

2.  The summary financial statement must contain a summary consolidated balance sheet showing either—

(a) each of the headings and sub-totals included in the full consolidated balance sheet in accordance with international accounting standards, or

(b) where the directors consider it appropriate, a combination of such headings and sub-totals where they are of a similar nature.

Corresponding amounts

3.—(1) In respect of every item shown in the summary consolidated profit and loss account, or in the summary consolidated balance sheet, the corresponding amount must be shown for the immediately preceding financial year.

(2) For the purposes of sub-paragraph (1), “the corresponding amount” is the amount shown in the summary financial statement for that year or which would have been so shown had such a statement been prepared for that year, taking account of any adjustments to corresponding amounts made in the full accounts and reports.