Schedule 2, Part 1 General Rules and Formats (paras. 1-15)
Section A General Rules
1. Subject to the following provisions of this Part of this Schedule -
(a) every balance sheet of a company must show the items listed in the balance sheet format set out in Section B of this Part, and
(b) every profit and loss account must show the items listed in either of the profit and loss account formats in Section B.
(1) References in this Part of this Schedule to the items listed in any of the formats set out in Section B, are to those items read together with any of the notes following the formats which apply to those items.
(2) The items must be shown in the order and under the headings and sub-headings given in the particular format used, but -
(a) the notes to the formats may permit alternative positions for any particular items,
(b) the heading or sub-heading for any item does not have to be distinguished by any letter or number assigned to that item in the format used, and
(c) where the heading of an item in the format used contains any wording in square brackets, that wording may be omitted if not applicable to the company.