The Charities (Accounts and Reports) Regulations 2008

PART 3 BALANCE SHEET

8.  The balance sheet must show the state of affairs of the investment fund as at the end of the relevant financial year by reference to the information specified—

(a) in the case of a common investment fund to which paragraph 3 does not apply, in paragraph 9;

(b) in the case of a common investment fund to which paragraph 3 applies, in paragraph 10;

(c) in the case of a common deposit fund, in paragraph 11.

9.  In the case of a common investment fund to which paragraph 3 does not apply, the specified information is—

(a) tangible fixed assets for use by the investment fund;

(b) investments;

(c) other assets, divided into—

(i) debtors;

(ii) deposits and loans;

(iii) cash at bank and in hand; and

(iv) others;

(d) total assets calculated by aggregating the amounts entered under of paragraphs (a), (b) and (c);

(e) derivative liabilities;

(f) other liabilities, divided into—

(i) creditors;

(ii) bank overdrafts;

(iii) other loans; and

(iv) distributions payable to participating charities;

(g) total liabilities calculated by aggregating the amounts entered under paragraphs (e) and (f);

(h) net assets which is calculated as follows—

A-B

• where

• A is the amount entered under paragraph (d),

• B is the amount entered under paragraph (g).

10.  In the case of a common investment fund to which paragraph 3 applies, the specified information is—

(a) in relation to the amount of capital and income to be shared between charities participating otherwise than by way of deposit, the information specified in paragraph 9;

(b) in relation to the amount of capital and income that is required in respect of the liabilities of the investment fund for the repayment of deposits and for interest on deposits (including amounts required by way of reserve), the information specified in paragraph 11.

11.  In the case of a common deposit fund, the specified information is—

(a) cash at bank and in hand;

(b) debtors;

(c) deposits and investments, divided into—

(i) deposits at the Bank of England;

(ii) deposits with a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;

(iii) other bank deposits;

(iv) other deposits; and

(v) other investments;

(d) current assets not included in paragraphs (a) to (c);

(e) tangible fixed assets for use by the common deposit fund;

(f) gross assets which is calculated by aggregating the amounts entered under paragraphs (a) to (e);

(g) sums deposited by participating charities;

(h) other liabilities, divided into—

(i) creditors;

(ii) bank overdrafts;

(iii) other loans; and

(iv) interest accrued or payable to participating charities;

(i) sums held as an income reserve on trust for existing depositors; and

(j) total liabilities which is calculated by aggregating the amounts entered under paragraphs (g), (h) and (i).

12.  Despite the requirement in paragraph 11(c) to divide into separate categories the information to be provided by dividing the information into separate categories, the division of that information into those categories may, if the charity trustees so elect, be effected instead by means of a note to the accounts made in pursuance of Part 5 of this Schedule.