16. Subject to paragraph 22 below, the amounts to be included in respect of all items shown in Companies Act individual accounts shall be determined in accordance with the principles set out in paragraphs 17 to 21.
Accounting Principles
17. The company shall be presumed to be carrying on business as a going concern.
18. Accounting policies shall be applied consistently within the same accounts and from one financial year to the next.
19. 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 which have arisen 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 156 of the Principal Act.