(1) An income and expenditure account and balance sheet referred to in regulations 4, 5 and 11 must be prepared in accordance with the relevant notes and every such document must, subject to the following paragraphs of this regulation, be prepared in the order and under the headings and subheadings in the format applicable to it.

(2) Regulations 4, 5 and 11 are not to be read as:

(a) requiring the heading or sub-heading for any item to be distinguished by any letter or number assigned to that item in the format in which it appears;

(b) prohibiting the showing of any item in a particular account in greater detail than is required by the format for that particular account; or

(c) prohibiting the insertion of additional items, providing that their contents are not specifically covered by any of the items prescribed in the formats.

(3) Items preceded by lower case letter in any format set out in Schedule 1, 2 or 7 may be combined in a society’s annual accounts for any financial year if either:

(a) their individual amounts are not material to assessing: