SCHEDULE 1STATEMENTS OF ACCOUNTS: INVESTMENT FUNDS
PART 4METHODS AND PRINCIPLES
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1
The statement of total return must give a true and fair view of the incoming resources and application of the resources of the investment fund in the relevant financial year.
2
The balance sheet must give a true and fair view of the state of affairs of the investment fund at the end of the relevant financial year.
3
The statement of changes in net assets must give a true and fair view of the movements in the net assets of the investment fund between their position at the beginning of the relevant financial year and their position at the end of that year.
4
Where compliance with Part 1, 2, 3 or 5 of this Schedule would not be sufficient to give a true and fair view, the necessary additional information shall be given in the accounts or a note to them.
5
If in special circumstances compliance with any of the provisions of Parts 1, 2, 3 or 5 of this Schedule is inconsistent with the requirement to give a true and fair view—
a
the charity trustees must depart from that provision to the extent necessary to give a true and fair view; and
b
particulars of any such departure, the reasons for it and its effect must be given in a note to the accounts.