Companies Act 1989 (c. 40)

SCHEDULES

SCHEDULE 6 Exemptions for Small and Medium-sized Companies[Schedule 8 to the Companies Act 1985]

Part II Medium-sized Companies

Profit and loss account

5 The company may deliver a profit and loss account in which the following items listed in the profit and loss account formats set out in Part I of Schedule 4 are combined as one item under the heading “gross profit or loss”—

• Items 1, 2, 3 and 6 in Format 1;

• Items 1 to 5 in Format 2;

• Items A.1, B.1 and B.2 in Format 3;

• Items A.1, A.2 and B.1 to B.4 in Format 4.