(1) Where the directors of an undertaking prepare Companies Act individual accounts and subject to these Regulations -
(a) every balance sheet of an undertaking shall show the items listed in the balance sheet format set out in Chapter 2 of Part I of the Schedule, and
(b) every profit and loss account of an undertaking shall show the items listed in the profit and loss account format so set out,
in the order and under the headings and sub-headings given in the format concerned.
(2) Paragraph (1) shall not be construed as requiring the heading or sub-heading for any item in the balance sheet, or profit and loss account, of an undertaking to be distinguished by any letter or number assigned to that item in the formats set out in the Schedule.
(3) Where the balance sheet or profit and loss account of an undertaking has been prepared by reference to the options set out in the Schedule, the directors of the undertaking shall adopt the same options in preparing the accounts for subseque