Excess of money owed over value received as an asset item
- Write off excess debt over consideration as asset and disclose Trader
Northern Ireland Statutory Rule
1997
United Kingdom
Companies (1986 Order) (Accounts of Small and Medium-sized Companies and Minor Accounting Amendments) Regulations (Northern Ireland) 1997
At a glance
What's here
18 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Trader 15
- Director or Officer 3
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 duties
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
(1) Where the value of any asset of a small...
- Use revalued asset figures in accounts instead of historical cost Trader
The accounting policies adopted by the company in determining the...
- State accounting policies in your company accounts Trader
If the company has allotted any shares during the financial...
- Report details of shares allotted during the financial year Trader
Fixed assets
- Disclose fixed asset movements and depreciation in your accounts Trader
Investments
- Disclose listed investments and market values in balance sheet Trader
Reserves and provisions
- Disclose movements in reserves and provisions in your accounts Trader
Particulars of turnover
- Disclose percentage of turnover from non-UK markets in your accounts Director or Officer
The accounting policies adopted by the company in determining the...
- State your accounting policies in your annual accounts Trader
If the company has allotted any shares during the financial...
- Disclose share allotment details in annual accounts Trader
Fixed assets
- Report fixed asset movements and depreciation in your accounts Trader
Details of indebtedness
- Disclose long-term and secured debts in annual accounts Trader
Browse 46 other Schedules — structural / supplementary
(1) If the net realisable value of any current asset...
Assets included at a fixed amount
Determination of purchase price or production cost
(1) Subject to the qualification mentioned below, the purchase price...
Substitution of original stated amount where price or cost unknown
(1) The rules set out in section B are referred...
Subject to paragraphs 32 to 34, the amounts to be...
(1) Intangible fixed assets, other than goodwill, may be included...
Additional information to be provided in case of departure from historical cost accounting rules
(1) With respect to any determination of the value of...
Any information required in the case of any small company...
Paragraphs 38 to 47 require information which either supplements the...
Share capital and debentures
Where any fixed assets of the company (other than listed...
Details of indebtedness
If any fixed cumulative dividends on the company’s shares are...
Guarantees and other financial commitments
Miscellaneous matters
Paragraphs 49 and 50 require information which either supplements the...
Miscellaneous matters
(1) Where sums originally denominated in foreign currencies have been...
The following paragraphs apply for the purposes of this Schedule...
Historical cost accounting rules
Listed investments
Loans
Materiality
Provisions
References to provisions for liabilities or charges are to any...
Staff costs
Creditors: amounts falling due within one year
Net current assets (liabilities) (8)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Provisions for liabilities and charges
Accruals and deferred income (7)
Capital and reserves (I) Called up share capital (9)
Any information required in the case of any small company...
Share capital and debentures
(1) Where sums originally denominated in foreign currencies have been...
Creditors: amounts falling due within one year
Net current assets (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Provisions for liabilities and charges
Accruals and deferred income
Capital and reserves (I) Called up share capital
sch. 1 para. 1
- Present company accounts using prescribed format items Trader
sch. 1 para. 16
- Determine amounts in accounts using specified rules Trader
sch. 1 para. 2
- Maintain consistent accounts format and disclose any changes Director or Officer
Rules for determining particular fixed asset items
- Depreciate goodwill systematically over its useful economic life and disclose in accounts Trader
sch. 1 para. 3
- Prepare small company accounts using adapted formats and show key items Director or Officer
sch. 1 para. 9
- Apply the prescribed accounting principles to small company accounts Trader
Browse 41 other sections — procedural / definitional / commencement
sch. 1 para. 11
General rules
General rules
Rules for determining particular fixed asset items
sch. 1 para. 22
sch. 1 para. 4
sch. 1 para. 5
sch. 2
Citation, commencement and interpretation
(1) Subject to the following provisions of this Schedule—
Special provisions for small companies
(1) Where in accordance with paragraph 1 a small company’s...
Special provisions for medium-sized companies
(1) Any item required in accordance with paragraph 1 to...
Cases in which special provisions do not apply
(1) In respect of every item shown in a small...
Special auditors' report
Amounts in respect of items representing assets or income may...
Group accounts prepared by small company
References in this Part to the items listed in any...
Minor and consequential amendments
A number in brackets following any item in any of...
In the notes following the formats— (a) the heading of...
Called up share capital
Creditors (Format 2, items C.1 to 4.) Amounts falling due...
Amounts written off in investments
Other interest receivable and similar income (12)
Profit or loss for the financial year.
Formats 1 and 3
If it appears to the directors of a small company...
Subject to section C, the amounts to be included in...
General rules
In the case of any fixed asset which has a...
(1) Where a fixed asset investment of a description falling...
Rules for determining particular fixed asset items
(1) The application of paragraphs 17 to 19 in relation...
Subject to paragraph 23, the amount to be included in...
Called up share capital not paid (1)
Fixed assets (I) Intangible assets (1) Goodwill (2)
Current assets (I) Stocks (II) Debtors (1)
Prepayments and accrued income
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