Regulation 3(1)

1.

(1) Subject to the following provisions of this Schedule -

(a) every balance sheet of a company must show the items listed in either of the balance sheet formats 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.

(1A) But, subject to the following provisions of this Schedule, in relation to a company which qualifies as a micro-entity in relation to a financial year (see sections 384A and 384B of the 2006 Act) -

(a) the only items which must be shown on the company's balance sheet for that year are those listed in either of the balance sheet formats in Section C of this Part, and

(b) the only items which must be shown on the company's profit and loss account for that year are those listed in the profit and loss account format in Section C.

(2) References in this Schedule to the items listed in any of the formats in Section B and Section C are to those items read together with any of the notes following the formats which apply to those items.