UK Statutory Instrument SI 1994/1983 United Kingdom

The Friendly Societies (Accounts and Related Provisions) Regulations 1994

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person20 Financial Services Firm18 Director or Officer9 Employer1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Financial Services Firm — also bound by 167 other Acts
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties
Employer — also bound by 682 other Acts
TULRCA 1992 72 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

sch. 1 sch. 1 Regulated
  • Prepare technical accounts in accordance with prescribed format and definitionsFinancial Services Firm
sch. 2 para. 2 Managed funds Regulated
  • Include managed funds in balance sheet and disclose in notesAny Person
s.005 Annual accounts—group accounts society Regulated
  • Prepare annual accounts in prescribed formats for group accounts societyAny Person
s.007 Group accounts—supplementary provisions Regulated
  • Include all subsidiaries in group accounts unless immaterialDirector or Officer
s.010 Accounting principles and rules Regulated
  • Prepare annual accounts using Schedule 6 accounting rulesAny Person
s.013 Transitional provisions Regulated
  • Recreate previous accounts as if old rules still appliedAny Person
38 other provisions — procedural and definitional
sch. 1 para. 6 sch. 1 para. 6
sch. 2 sch. 2
sch. 2 para. 1 Additional items
s.001 Citation and commencement
s.001 Earned premiums, net of reinsurance (a) gross premiums written (1)... (opens in a new tab)
s.002 Interpretation
s.002 Allocated investment return transferred from the non-technical account (item III.6)... (opens in a new tab)
s.003 Application
s.003 Other technical income, net of reinsurance (opens in a new tab)
s.004 Annual accounts—single accounts society
s.004 Claims incurred, net of reinsurance (4) (a) claims paid (opens in a new tab)
s.005 Change in other technical provisions, net of reinsurance, not shown... (opens in a new tab)
s.006 Content and form of accounts
s.006 Bonuses and rebates, net of reinsurance (5) (opens in a new tab)
s.007 Net operating expenses (a) acquisition costs (6) (opens in a new tab)
s.008 Notes to annual accounts
s.008 Other technical charges, net of reinsurance (opens in a new tab)
s.009 Associated bodies
s.009 Investment expenses and charges (8) (a) investment management expenses, including... (opens in a new tab)
s.010 Accounts to have regard to substance of a transaction
s.010 Sub-total (balance on the technical account for general business) (item... (opens in a new tab)
s.011 Annual accounts—non-directive society
s.011 Other technical charges, net of reinsurance (opens in a new tab)
s.012 Committee of management’s annual report
s.012 Allocated investment return transferred to the non-technical account (item III.4)... (opens in a new tab)
s.013 Sub-total (balance on the technical account—long term business) (item III.2)... (opens in a new tab)
s.014 Interpretation of Schedules
s.s.a Intangible assets
s.s.b Investments
s.s.c Assets held to cover linked liabilities (11)
s.s.d Reinsurers' share of technical provisions (12)
s.s.e Debtors (13)
s.s.f Other assets
s.s.g Prepayments and accrued income
s.s.i Land and buildings
s.s.ii Mortgages on Land and Buildings
s.s.iii British Government and British Government Guaranteed Securities
s.s.iv Other investments
Schedules

Schedules

42 of 155 shown
s.sch003 (1) There must be stated in a note to the... Regulated
  • Disclose cumulative goodwill written off in accounts notesAny Person
s.sch003 Where during the financial year there has been a disposal... Regulated
  • Disclose subsidiary disposals significantly affecting group accountsDirector or Officer
s.sch003 Any differences of accounting rules as between a society’s individual... Regulated
  • Disclose differences between individual and consolidated accounting rulesAny Person
s.sch003 Elimination of group transactions Regulated
  • Eliminate intra-group transactions and balances in consolidated accountsFinancial Services Firm
s.sch004 Accounting policies Regulated
  • State accounting policies and compliance with standards in accountsAny Person
s.sch004 Assets Regulated
  • Disclose asset movements and depreciation in your annual accountsAny Person
s.sch004 Where any assets of the society (other than listed investments)... Regulated
  • Disclose asset valuation details in balance sheetAny Person
s.sch004 In relation to any amount which is included under Asset... Regulated
  • Disclose property tenure and own-use value in accountsFinancial Services Firm
s.sch004 Investments Regulated
  • Disclose investment breakdown in friendly society balance sheetAny Person
s.sch004 Sums denominated in foreign currencies Regulated
  • State how foreign currency sums are converted to sterlingFinancial Services Firm
s.sch004 Provision for taxation Regulated
  • Show deferred tax provision separately in accountsFinancial Services Firm
s.sch004 Details of indebtedness Regulated
  • Disclose long-term debt and security details in the balance sheetDirector or Officer
s.sch004 Dealings with or interests in subsidiaries and jointly controlled bodies Regulated
  • Show separate totals for subsidiary and joint-venture dealings in your accountsAny Person
s.sch004 Separate statement of certain items of income and expenditure Regulated
  • Disclose specific income and expenditure items in annual accountsFinancial Services Firm
s.sch004 Taxation Regulated
  • Disclose taxation details in annual accountsFinancial Services Firm
s.sch004 Particulars of business Regulated
  • Disclose detailed breakdown of general insurance businessDirector or Officer
s.sch004 (1) As regards long term business, the society must disclose:... Regulated
  • Disclose long-term business premiums and reinsurance detailsAny Person
s.sch004 (1) Subject to sub-paragraph (2) below, there must be disclosed... Regulated
  • Disclose total gross direct insurance premiums from UK and foreign contractsFinancial Services Firm
s.sch004 Commissions Regulated
  • Disclose total commissions for direct insurance business in accountsFinancial Services Firm
s.sch004 Miscellaneous matters Regulated
  • Disclose financial details on income and expenditure accountFinancial Services Firm
s.sch004 Information about fair value of assets and liabilities Regulated
  • Disclose fair value information in the notes to accountsFinancial Services Firm
s.sch004 Related Party Transactions Regulated
  • Disclose material related party transactions in annual accountsAny Person
s.sch006 (1) This paragraph applies where the amounts to be included... Regulated
  • Disclose valuation basis and historical cost differences in accounts notesAny Person
s.sch006 Revaluation reserve Regulated
  • Maintain a revaluation reserve for asset value changes and disclose in accountsAny Person
s.sch006 In the case of any asset included under Assets item... Regulated
  • Depreciate limited-life assets systematically over their useful economic lifeFinancial Services Firm
s.sch006 (1) This paragraph applies to any asset included under Assets... Regulated
  • Make provisions for permanent loss of value in tangible assets and investmentsFinancial Services Firm
s.sch006 Goodwill Regulated
  • Write off goodwill systematically over its useful economic lifeAny Person
s.sch006 Accounting for changes in value of financial instruments Regulated
  • Account for changes in value of financial instruments correctlyAny Person
s.sch006 Determination of cost Regulated
  • Calculate asset cost correctly when buying or building assetsDirector or Officer
s.sch006 (1) Subject to the qualification mentioned below, the cost of... Regulated
  • Choose and apply a permitted method for valuing fungible assetsDirector or Officer
s.sch006 Assets and liabilities denominated in foreign currencies Regulated
  • Convert foreign currency assets and liabilities at correct exchange rateFinancial Services Firm
s.sch006 (1) Subject to subparagraph (2), any difference between the amount... Regulated
  • Correctly account for foreign currency differences on assets and liabilitiesFinancial Services Firm
s.sch006 General business Regulated
  • Calculate claim provisions separately, allow for unreported claims, and include settlement costsFinancial Services Firm
s.sch006 (1) Explicit discounting or deductions to take account of investment... Regulated
  • Discount claim provisions using prudential methods and disclose details in accountsAny Person
s.sch008 There must be stated names of the persons who, at... Regulated
  • State names of management committee and chief executive in annual accountsFinancial Services Firm
s.sch008 (1) The following applies if the society or any subsidiary... Regulated
  • Disclose political and charitable donations in annual report if over £200Any Person
s.sch008 The committee of management’s annual report must contain particulars of... Regulated
  • Include material matters in annual report unless harmful to businessAny Person
s.sch008 The following paragraphs of Part I of this Schedule are... Regulated
  • Include required content in your non-directive society's annual reportDirector or Officer
s.sch008 The committee of management’s annual report must contain: Regulated
  • Prepare an annual report covering objectives, post-year events and future outlookDirector or Officer
s.sch008 (1) If significant changes in the fixed assets of the... Regulated
  • Report significant fixed asset changes in annual reportDirector or Officer
s.sch008 (1) Subject to subparagraphs (2) and (3), the committee of... Regulated
  • Disclose committee members' interests in subsidiaries in annual reportFinancial Services Firm
s.sch008 (1) This paragraph applies to the committee of management’s annual... Regulated
  • Include disability and staff engagement statements in annual reportEmployer
113 other schedules
s.sch001 Tax attributable to the long term business
s.sch001 Transfers to or from the fund for future appropriations
s.sch001 Tax on extraordinary gain or loss
s.sch001 Other taxes not shown under the preceding items
s.sch001 Excess of income over expenditure for the financial year
s.sch001 Investment income (8)(10) (a) income from shares in subsidiaries
s.sch001 Unrealised gains on investments (9)
s.sch001 Unrealised losses on investments (9)
s.sch001 Excess of income over expenditure on ordinary activities before tax...
s.sch002 Fund for future appropriations (18)
s.sch002 Accruals and deferred income
s.sch003 General Rules
s.sch003 The information required by paragraphs 9, 10, or 11 need...
s.sch003 Minority interests
s.sch003 (1) Where assets and liabilities to be included in the...
s.sch003 Amounts which in the particular context of any provision of...
s.sch003 Acquisition accounting
s.sch003 An acquisition must be accounted for by the acquisition method...
s.sch003 (1) The acquisition method of accounting is as follows.
s.sch003 (1) The following information with respect to acquisitions taking place...
s.sch004 Supplementary provisions regarding committee members' emoluments
s.sch004 (1) The amounts to be shown for any financial year...
s.sch004 Where the Chief Executive of the society is not also...
s.sch004 Regulation 8(2)(b) does not apply to paragraphs 4 to 12....
s.sch004 Interpretation of provisions regarding committee members' emoluments
s.sch004 Reserves and provisions
s.sch004 Guarantees and other financial commitments
s.sch004 Staff
s.sch004 Committee members' loans and transactions
s.sch004 Industrial Assurance
s.sch004 Information where investment property or living animals and plants included at fair value
s.sch004 Aggregate amount of committee members' emoluments
s.sch004 Details of chairman’s and committee members' emoluments
s.sch004 Emoluments waived
s.sch004 Pensions of committee members and past committee members
s.sch004 Compensation to committee members for loss of office
s.sch004 Sums paid to third parties in respect of committee members' services
s.sch005 Subsidiaries
s.sch005 Holdings in subsidiaries
s.sch005 Financial years of subsidiaries
s.sch005 Further information about subsidiaries excluded from consolidation
s.sch005 Jointly controlled bodies
s.sch005 Other significant holdings of society or group
s.sch005 (1) The name of the body corporate must be stated....
s.sch005 (1) Where the society has a significant holding in a...
s.sch005 (1) The information required by paragraphs 18 and 19 must...
s.sch005 (1) The name of the body corporate must be stated....
s.sch005 (1) Where the holding of the group amounts to 20...
s.sch005 Holdings in subsidiaries
s.sch005 Construction of references to shares held by society or group
s.sch005 The information required by paragraphs 6, 15 and 18 of...
s.sch005 For the purposes of paragraphs 4 and 12 of this...
s.sch005 Financial years of subsidiaries
s.sch005 Further information about subsidiaries
s.sch005 Significant holdings in bodies corporate other than subsidiaries
s.sch005 (1) The name of the body corporate must be stated....
s.sch005 (1) Where the society has a significant holding in a...
s.sch005 Construction of references to shares held by society
s.sch005 Subsidiaries
s.sch006 Preliminary
s.sch006 Valuation of assets: general
s.sch006 (1) Intangible assets other than goodwill may be shown at...
s.sch006 Alternative valuation of fixed-income securities
s.sch006 Meaning of “current value”
s.sch006 (1) In the case of land and buildings, current value...
s.sch006 Application of the depreciation rules
s.sch006 Subject to paragraphs 8 to 17 above, the amounts to...
s.sch006 General rules
s.sch006 Accounting principles
s.sch006 (1) This paragraph applies to assets included under Assets items...
s.sch006 Development costs
s.sch006 Inclusion of financial instruments at fair value
s.sch006 Methods for determining “fair value”
s.sch006 Hedged items
s.sch006 Other assets which may be included at fair value
s.sch006 The fair value reserve
s.sch006 Excess of money owed over value received as an asset item
s.sch006 Assets included at a fixed amount
s.sch006 Substitution of original amount where price or cost unknown
s.sch006 Accounting policies must be applied consistently within the same accounts...
s.sch006 The provisions of this Schedule which relate to long term...
s.sch006 Preliminary
s.sch006 Technical provisions
s.sch006 Provision for unearned premiums
s.sch006 Provision for unexpired risks
s.sch006 Long term business provision
s.sch006 The amount of any item must be determined on a...
s.sch006 Long term business
s.sch006 Except so far as these Regulations otherwise specify, income and...
s.sch006 In determining the aggregate amount of any item the amount...
s.sch006 If it appears to the committee of management of a...
s.sch006 Preliminary
s.sch006 The same valuation method must be applied to all investments...
s.sch007 Income (a) Contributions (b) (i) Rents from Land and Buildings...
s.sch007 Expenditure (a) Sickness benefits (b) Endowments on maturity
s.sch007 Excess of income over expenditure
s.sch007 Management Fund
s.sch008 (1) If at the end of the financial year the...
s.sch008 The remuneration to be taken into account under paragraph 6(1)(b)...
s.sch008 There must be contained in the committee of management’s annual...
s.sch008 There must be stated in the committee of management’s annual...
s.sch009 The following paragraphs apply for the purposes of the interpretation...
s.sch009 Other definitions
s.sch009 Financial instruments
s.sch009 Further Expressions
s.sch009 Balance sheet date
s.sch009 Leases
s.sch009 Listed investments
s.sch009 Loans
s.sch009 Materiality
s.sch009 Provisions
s.sch009 Scots land tenure
s.sch009 Staff costs

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