The Companies Act 1985 (Accounts of Small and Medium-sized Companies and Minor Accounting Amendments) Regulations 1997
1Citation, interpretation and commencement etc.
2Special provisions for small companies
3Special provisions for medium-sized companies
4Cases in which special provisions do not apply
5Special auditors' report
6Group accounts prepared by small company
7Minor and consequential amendments
SCHEDULE 1[SCHEDULE 8 TO THE COMPANIES ACT 1985]
PART IGENERAL RULES AND FORMATS
Section AGeneral Rules
1(1) Subject to the following provisions of this Schedule—
2(1) Where in accordance with paragraph 1 a small company’s...
3(1) Any item required in accordance with paragraph 1 to...
4(1) In respect of every item shown in a small...
5Amounts in respect of items representing assets or income may...
Section BThe Required Formats for Accounts
Preliminary
6References in this Part of this Schedule to the items...
7A number in brackets following any item in any of...
8In the notes following the formats— (a) the heading of...
Balance Sheet FormatsFormat 1
ACalled up share capital not paid (1)
BFixed assets (I) Intangible assets (1) Goodwill (2)
CCurrent assets (I) Stocks (1) Stocks (2) Payments on account...
DPrepayments and accrued income (6)
ECreditors: amounts falling due within one year
FNet current assets (liabilities) (8)
GTotal assets less current liabilities
HCreditors: amounts falling due after more than one year
IProvisions for liabilities and charges
JAccruals and deferred income (7)
KCapital and reserves (I) Called up share capital (9)
Balance Sheet FormatsFormat 2
AASSETS
BFixed assets (I) Intangible assets (1) Goodwill (2)
CCurrent assets (I) Stocks (1) Stocks (2) Payments on account...
DPrepayments and accrued income (6)
ALIABILITIES
BProvisions for liabilities and charges
CCreditors (10) (1) Bank loans and overdrafts
DAccruals and deferred income (7)
Notes on the balance sheet formats
1Called up share capital not paid
2Goodwill
3Other intangible assets
4Others: Other investments
5Debtors
6Prepayments and accrued income
7Other creditors
8Net current assets (liabilities)
9Called up share capital
10Creditors
Profit and loss account formatsFormat 1 (see note (14) below)
1Turnover
2Cost of sales (11)
3Gross profit or loss
4Distribution costs (11)
5Administrative expenses (11)
6Other operating income
7Income from shares in group undertakings
8Income from participating interests
9Income from other fixed asset investments (12)
10Other interest receivable and similar income (12)
11Amounts written off investments
12Interest payable and similar charges (13)
13Tax on profit or loss on ordinary activities
14Profit or loss on ordinary activities after taxation
15Extraordinary income
16Extraordinary charges
17Extraordinary profit or loss
18Tax on extraordinary profit or loss
19Other taxes not shown under the above items
20Profit or loss for the financial year
Profit and loss account formatsFormat 2
1Turnover
2Change in stocks of finished goods and in work in...
3Own work capitalised
4Other operating income
5(a) Raw materials and consumables (b) Other external charges
6Staff costs: (a) wages and salaries (b) social security costs...
7(a) Depreciation and other amounts written off tangible and intangible...
8Other operating charges
9Income from shares in group undertakings
10Income from participating interests
11Income from other fixed asset investments (12)
12Other interest receivable and similar income (12)
13Amounts written off investments
14Interest payable and similar charges (13)
15Tax on profit or loss on ordinary activities
16Profit or loss on ordinary activities after taxation
17Extraordinary income
18Extraordinary charges
19Extraordinary profit or loss
20Tax on extraordinary profit or loss
21Other taxes not shown under the above items
22Profit or loss for the financial year
Profit and loss account formatsFormat 3 (see note (14) below)
1A. Charges
2Distribution costs (11)
3Administrative expenses (11) (4) Amounts written off investments
5Interest payable and similar charges (13)
6Tax on profit or loss on ordinary activities
8Extraordinary charges
9Tax on extraordinary profit or loss
10Other taxes not shown under the above items
11Profit or loss for the financial year
1B. Income
2Other operating income
3Income from shares in group undertakings
4Income from participating interests
5Income from other fixed asset investments (12)
6Other interest receivable and similar income (12)
7Profit or loss on ordinary activities after taxation
8Extraordinary income
9Profit or loss for the financial year
Profit and loss account formatsFormat 4
1A. Charges
2(a) Raw materials and consumables (b) Other external charges
3Staff costs: (a) wages and salaries (b) social security costs...
4(a) Depreciation and other amounts written off tangible and intangible...
5Other operating charges
6Amounts written off investments
7Interest payable and similar charges (13)
8Tax on profit or loss on ordinary activities
9Profit or loss on ordinary activities after taxation
10Extraordinary charges
11Tax on extraordinary profit or loss
12Other taxes not shown under the above items
13Profit or loss for the financial year
1B. Income
2Increase in stocks of finished goods and in work in...
3Own work capitalised
4Other operating income
5Income from shares in group undertakings
6Income from participating interests
7Income from other fixed asset investments (12)
8Other interest receivable and similar income (12)
9Profit or loss on ordinary activities after taxation
10Extraordinary income
11Profit or loss for the financial year
Notes on the profit and loss account formats
11Cost of sales: distribution costs: administrative expenses
12Income from other fixed asset investments: other interest receivable and similar income
13Interest payable and similar charges
14Formats 1 and 3
PART IIACCOUNTING PRINCIPLES AND RULES
Section AAccounting Principles
Preliminary
9Subject to paragraph 15 below, the amounts to be included...
Accounting principles
10The company shall be presumed to be carrying on business...
11Accounting policies shall be applied consistently within the same accounts...
12The amount of any item shall be determined on a...
13All income and charges relating to the financial year to...
14In determining the aggregate amount of any item the amount...
Departure from the accounting principles
15If it appears to the directors of a small company...
Section BHistorical Cost Accounting Rules
Preliminary
16Subject to section C of this Part of this Schedule,...
Fixed assets
17General rules
18In the case of any fixed asset which has a...
19(1) Where a fixed asset investment of a description falling...
20Rules for determining particular fixed asset items
21(1) The application of paragraphs 17 to 19 in relation...
Current assets
22Subject to paragraph 23, the amount to be included in...
23(1) If the net realisable value of any current asset...
Miscellaneous and supplementary provisions
24Excess of money owed over value received as an asset item
25Assets included at a fixed amount
26Determination of purchase price or production cost
27(1) Subject to the qualification mentioned below, the purchase price...
28Substitution of original stated amount where price or cost unknown
Section CAlternative Accounting Rules
Preliminary
29(1) The rules set out in section B are referred...
30Subject to paragraphs 32 to 34, the amounts to be...
Alternative accounting rules
31(1) Intangible fixed assets, other than goodwill, may be included...
Application of the depreciation rules
32(1) Where the value of any asset of a small...
Additional information to be provided in case of departure from historical cost accounting rules
33(1) This paragraph applies where the amounts to be included...
Revaluation reserve
34(1) With respect to any determination of the value of...
PART IIINOTES TO THE ACCOUNTS
Preliminary
35Any information required in the case of any small company...
Disclosure of accounting policies
36The accounting policies adopted by the company in determining the...
Information supplementing the balance sheet
37Paragraphs 38 to 47 require information which either supplements the...
38Share capital and debentures
39If the company has allotted any shares during the financial...
40Fixed assets
41Where any fixed assets of the company (other than listed...
42Investments
43Reserves and provisions
44Details of indebtedness
45If any fixed cumulative dividends on the company’s shares are...
46Guarantees and other financial commitments
47Miscellaneous matters
Information supplementing the profit and loss account
48Paragraphs 49 and 50 require information which either supplements the...
49Particulars of turnover
50Miscellaneous matters
General
51(1) Where sums originally denominated in foreign currencies have been...
PART IVINTERPRETATION OF SCHEDULE
52The following paragraphs apply for the purposes of this Schedule...
53Historical cost accounting rules
54Listed investments
55Loans
56Materiality
57Provisions
58References to provisions for liabilities or charges are to any...
59Staff costs
SCHEDULE 2[SCHEDULE 8A TO THE COMPANIES ACT 1985]
PART IBALANCE SHEET FORMATS
1A small company may deliver to the registrar a copy...
2The formats referred to in paragraph 1 are as follows—...
Balance Sheet FormatsFormat 1
ACalled up share capital not paid
BFixed assets (I) Intangible assets (II) Tangible assets
CCurrent assets (I) Stocks (II) Debtors (1)
DPrepayments and accrued income
ECreditors: amounts falling due within one year
FNet current assets (liabilities)
GTotal assets less current liabilities
HCreditors: amounts falling due after more than one year
IProvisions for liabilities and charges
JAccruals and deferred income
KCapital and reserves (I) Called up share capital
Balance Sheet FormatsFormat 2
AASSETS
BFixed assets (I) Intangible assets (II) Tangible assets
CCurrent assets (I) Stocks (II) Debtors (1)
DPrepayments and accrued income
ALIABILITIES
BProvisions for liabilities and charges
CCreditors (2)
DAccruals and deferred income
Notes on the balance sheet formats
1Debtors
2Creditors
PART IINOTES TO THE ACCOUNTS
Preliminary
3Any information required in the case of any small company...
Disclosure of accounting policies
4The accounting policies adopted by the company in determining the...
Information supplementing the balance sheet
5Share capital and debentures
6If the company has allotted any shares during the financial...
7Fixed assets
8Details of indebtedness
9General

1997 No. 220

COMPANIES

The Companies Act 1985 (Accounts of Small and Medium-sized Companies and Minor Accounting Amendments) Regulations 1997

Made

Laid before Parliament

Coming into force

The Secretary of State, in exercise of the powers conferred on him by section 257 of the Companies Act 19851 and of all other powers enabling him in that behalf, hereby makes the following Regulations: