SCHEDULES

SCHEDULE 8FORM AND CONTENT OF ACCOUNTS PREPARED BY SMALL COMPANIES

PART IIACCOUNTING PRINCIPLES AND RULES

SECTION AACCOUNTING PRINCIPLES

Accounting principles

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The amount of any item shall be determined on a prudent basis, and in particular—

a

only profits realised at the balance sheet date shall be included in the profit and loss account; and

b

all liabilitiesF2. . . which have arisenF2. . . in respect of the financial year to which the accounts relate or a previous financial year shall be taken into account, including those which only become apparent between the balance sheet date and the date on which it is signed on behalf of the board of directors in pursuance of Article 241.