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Friendly Societies (Accounts and Related Provisions) Regulations 1994 [SI 1994 No. 1983]Introductory TextPart I Preliminary (regs. 1-3)Regulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 ApplicationPart II Accounts (regs. 4-11)Regulation 4 Annual accounts - single accounts societyRegulation 5 Annual accounts - group accounts societyRegulation 6 Content and form of accountsRegulation 7 Group accounts - supplementary provisionsRegulation 8 Notes to annual accountsRegulation 9 Associated bodiesRegulation 10 Accounting principles and rulesRegulation 10A Accounts to have regard to substance of a transactionRegulation 11 Annual accounts - non-directive societyPart III Committee of management's annual report (reg. 12)Regulation 12 Committee of management's annual reportPart IV Miscellaneous and general (regs. 13-14)Regulation 13 Transitional provisionsRegulation 14 Interpretation of SchedulesSchedule 1Schedule 1, Part I Income and expenditure account formatSchedule 1, Part II Format of consolidated income and expenditure accountSchedule 1, Part III Notes on the income and expenditure formatSchedule 2Schedule 2, Part I Balance sheet formatSchedule 2, Part II Format of consolidated balance sheetSchedule 2, Part III Notes on the balance sheet formatSchedule 2, Part IV Special rules for balance sheet formatSchedule 3 Form and content of the annual accounts of a group accounts societySchedule 4 Notes to annual accountsSchedule 5 Notes to annual accounts: Information in respect of associated bodiesSchedule 5, Part I Societies not required to prepare consolidated accounts (paras. 1-8)Schedule 5, Part II Societies required to prepare consolidated accounts (paras. 9-20)Schedule 5, Part III Supplementary provisions (paras. 21-22)Schedule 6 Accounting principles and rulesSchedule 6, Part I Accounting principles (paras. 1-6)Schedule 6, Part II Departure from accounting principles (para. 7)Schedule 6, Part III Current value accounting rules (paras. 8-17)Schedule 6, Part IV Historical cost accounting rules (paras. 18-24)Schedule 6, Part IVA Valuation at Fair Value (paras. 24A-24F)Schedule 6, Part V Miscellaneous and supplemental (paras. 25-32)Schedule 6, Part VI Rules for determining provisions (paras. 33-40)Schedule 7 Annual accounts of non-directive societySchedule 7, Part I Format of non-directive society income and expenditure accountSchedule 7, Part II Format of non-directive society balance sheetSchedule 7, Part III Notes to annual accounts of non-directive societySchedule 8 Committee of management's annual reportSchedule 8, Part I Society (paras. 1-11)Schedule 8, Part II Non-directive society (para. 12)Schedule 9 Interpretation of SchedulesSignatureExplanatory Note
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 September 1994 - onwards
Version 2 of 2

Schedule 6, Part II Departure from accounting principles (para. 7)

Regulation 10

7. If it appears to the committee of management of a society that there are special reasons for departing from any of the principles stated above in preparing annual accounts in respect of any financial year, they may do so, but particulars of the departure, the reasons for it, and its effect must be given in a note to the accounts.

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