http://www.legislation.gov.uk/id/ukpga/1985/6/schedule/8

SCHEDULES

F1 F1 SCHEDULE 8

Annotations:

Amendments (Textual)

Sch. 8 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)

PART II ACCOUNTING PRINCIPLES AND RULES

Section A Accounting Principles

Accounting principles

F212

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 liabilities F3. . . which have arisen F3. . . 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 section 233 of this Act.