F2F3F4F5Part VIIIAccounts and Audit
Pt. VIII substituted by S.I. 1990/593 (N.I. 5), Pt. II
Pt. VIII modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 2, Sch. 1)
Pt. VIII modified by {S.R. 2004/496}
Chapter 1Provisions Applying to Companies Generally
Accounting records
Duty to keep accounting records229
F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Where and for how long records to be kept230
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A company's financial and accounting reference periods
A company's financial year231
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accounting reference periods and accounting reference date232
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Alteration of accounting reference date233
Annual accounts
Duty to prepare individual accounts234
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Companies Order individual accounts234A
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
IAS individual accounts234B
F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Duty to prepare group accounts235
F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Companies Order group accounts235A
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
IAS group accounts235B
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Consistency of accounts235C
F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exemption for parent companies included in accounts of larger group236
F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exemption for parent companies included in non‐EEA group accounts236A
F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Subsidiary undertakings included in the consolidation237
F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Treatment of individual profit and loss account where group accounts prepared238
F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure required in notes to accounts: related undertakings239
F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure required in notes to annual accounts: particulars of staff239A
F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure required in notes to accounts: emoluments and other benefits of directors and others240 F25
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approval and signing of accounts
Approval and signing of accounts241 F27
F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
DIRECTORS' REPORT
Duty to prepare directors' report242
F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Directors' report: general requirements242ZZA
F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Directors' report: business review242ZZB
F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approval and signing of directors' report242A
F33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F36. . .
Heading before art. 242AA omitted (31.3.2006) by virtue of Companies (1986 Order) (Operating and Financial Review) (Repeal) Regulations (Northern Ireland) 2006 (S.R. 2006/94), reg. 2(2), Sch. para. 2
Duty to prepare operating and financial review242AA
F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approval and signing of operating and financial review242AB
F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Quoted companies: directors' remuneration report
Duty to prepare directors' remuneration report242B
F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Approval and signing of directors' remuneration report242C
F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F39Auditors' report
Auditors' report243
F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Signature of auditors' report244
F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Duties of auditors245
F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F43Publication of accounts and reports
Persons entitled to receive copies of accounts and reports246
F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Time allowed for sending out copies of accounts and reports246A
F47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Right to demand copies of accounts and reports247
F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Requirements in connection with publication of accounts248
F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F48Laying and delivering of accounts and reports
shell centre redevAccounts and reports to be laid before company in general meeting249
F49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Members' approval of directors' remuneration report249A
F50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Accounts and reports to be delivered to the registrar250
F51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Civil penalty for failure to deliver accounts250A
F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Delivery and publication of accounts in ECUs250B
F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Art. 251 rep. by SR 2004/496
Period allowed for laying and delivering accounts and reports252
F54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F55Revision of defective accounts and reports
Voluntary revision of annual accounts or directors' report253
F56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Department's notice in respect of annual accounts253A
F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Application to court in respect of defective accounts253B
F58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other persons authorised to apply to court253C
F59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Disclosure of information held by Inland Revenue to persons authorised to apply to court253D
F60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Restrictions on use and further disclosure of information disclosed under Article 253D253E
F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .253F
F62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F63CHAPTER IIF63Exemptions, exceptions and special provisions
F64Small and medium‐sized companies and groups
Special provisions for small companies254
F65. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Special provisions for medium‐sized companies254A
F66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Qualification of company as small or medium‐sized255
F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cases in which special provisions do not apply255A
F68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Special auditors' report255B
F69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Exemption for small and medium‐sized groups256
F70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Group accounts prepared by small company256A
F71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Qualification of group as small or medium‐sized257
F72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F73Exemptions from audit for certain categories of small company
SR 1995/128
Exemptions from audit257A
F74. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dormant Companies257AA
F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Cases where exemptions not available257B
F76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The report required for the purposes of Article 257A(2)257C
F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The reporting accountant257D
F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Effect of exemptions257E
F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Art. 258 rep. by SR 2001/153
F80Listed public companies
Summary financial statement259
F81. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Private companies
Election to dispense with laying of accounts and reports before general meeting260
F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Right of shareholder to require laying of accounts261
F83. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Unlimited companies
Exemption from requirement to deliver accounts and reports262
F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F85Banking and insurance companies and groups
SR 1992/258
Special provisions for banking and insurance companies263
F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Special provisions for banking and insurance groups263A
F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Modification of disclosure requirements in relation to banking company or group263B
F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Art. 263C rep. by SR 1994/428
Power to apply provisions to banking partnerships263D
F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F90CHAPTER IIISUPPLEMENTARY PROVISIONS
F91Accounting standards
Accounting standards264
F92. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Power to alter accounting requirements
Power of Department to alter accounting requirements265
F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Parent and subsidiary undertakings
Parent and subsidiary undertakings266
F94. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F95Other interpretation provisions
Meaning of “undertaking” and related expressions267
F96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Participating interests268
F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Notes to the accounts269
F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Minor definitions270
F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Index of defined expressions270A
F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
mod. SR 1994/133