Section A General Rules
(1) Subject to the provisions of this Schedule -
(a) every balance sheet of a company shall show the items listed in either of the balance sheet formats set out in Section B, and
(b) every profit and loss account of a company shall show the items listed in the profit and loss accounts format so set out,
in either case in the order and under the headings given in the format adopted.
(2) Subparagraph (1) shall not be read as requiring the heading for any item in the balance sheet, or profit and loss account, of a company to be distinguished by any letter or number assigned to that item in the formats set out in Section B.
(1) Where, in accordance with paragraph 2(1)(a), a company's balance sheet for any financial year has been prepared by reference to one of the formats set out in Section B, the directors of the company shall adopt the same format in preparing the financial statements for subsequent financial years unless, in their opinion, there are special
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