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Building Societies (Accounts and Related Provisions) Regulations 1998 [SI 1998 No. 504]Introductory TextRegulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 Annual accountsRegulation 4 Group accounts: supplementary provisionsRegulation 4A Accounts in euroRegulation 5 Notes to annual accountsRegulation 6 Holdings in undertakingsRegulation 7 Accounting principles and rulesRegulation 8 Directors' reportRegulation 9 Annual business statementRegulation 10 Summary financial statementRegulation 11 Interpretation of SchedulesRegulation 12 Transitional provisionsRegulation 13 RevocationSchedule 1Schedule 1, Part I Format of society income and expenditure accountSchedule 1, Part II Format of consolidated income and expenditure accountSchedule 1, Part III Provisions applicable to Parts I and IISchedule 2Schedule 2, Part I Format of society balance sheetSchedule 2, Part II Format of consolidated balance sheetSchedule 2, Part III Provisions applicable to Parts I and IISchedule 3Schedule 3, Part I Format of society statement of the source and application of fundsSchedule 3, Part II Format of consolidated statement of the source and application of fundsSchedule 3, Part III Provisions applicable to Parts I and IISchedule 4 Form and content of the annual accounts of a group accounts societySchedule 5 Notes to annual accountsSchedule 6 Notes to annual accounts: information in respect of holdings in undertakingsSchedule 6, Part I Societies not required to prepare consolidated accounts (paras. 1-8)Schedule 6, Part II Societies required to prepare consolidated accounts (paras. 9-19)Schedule 6, Part III Supplementary provisions (para. 20)Schedule 7 accounting principles and rulesSchedule 7, Part I Accounting principles (paras. 1-6)Schedule 7, Part II Departure from accounting principles (para. 7)Schedule 7, Part III Fixed assets (paras. 8-13)Schedule 7, Part IV Current assets (paras. 14-16)Schedule 7, Part V Other accounting rules (paras. 17-25)Schedule 7, Part VI Alternative accounting rules (paras. 26-31)Schedule 7, Part VIA Valuation at Fair Value (paras. 31A-31F)Schedule 7, Part VII Assets and liabilities denominated in foreign currencies (paras. 32-33)Schedule 8 Directors' reportSchedule 9 Annual business statementSchedule 10 Summary financial statementSchedule 10, Part I Format of summary financial statement (Building Societies Act accounts society)Schedule 10, Part IA Format of summary financial statement (IAS accounts society)Schedule 10, Part II Provisions applicable to Part ISchedule 11 Interpretation of SchedulesSignatureExplanatory Note
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 12 May 2011 - onwards
Version 6 of 6

Schedule 5 Notes to annual accounts

Regulation 5

Accounting policies

1.

(1) There shall be stated the accounting policies (including such policies with respect to the depreciation and diminution in value of the assets of the society) adopted by the society in determining the amounts to be included in respect of items shown in the income and expenditure account and the balance sheet.

(2) It shall be stated whether the accounts have been prepared in accordance with applicable accounting standards within the meaning of section 464(1) of the Companies Act 2006; particulars of any material departure from these standards and the reasons for such departure shall be given.

Sums denominated in foreign currencies

2. Where any sums originally denominated in a foreign currency have been brought into account under any items shown in the balance sheet or income and expenditure account formats, the basis on which those sums have been translated into sterling shall be stated.

Employees

3.[deleted]

Aggregate amount of directors' remuneration etc.

4.[deleted]

Details of individual directors' remuneration etc.

5.[deleted]

Excess retirement benefits of directors and past directors

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