Companies (Accounting) Act 2017

Amendment of section 304 of Principal Act

25. Section 304 of the Principal Act is amended—

(a) in subsection (1)—

(i) in paragraph (a), by the substitution of “the company is required to prepare or elects to prepare (and, accordingly, does prepare)” for “the company is required to prepare and does prepare”, and

(ii) in paragraph (b), by the substitution of “the company’s entity balance sheet shows” for “the notes to the company’s entity balance sheet show”,

and

(b) in subsection (2), by the substitution of “The entity profit and loss account together with, in the case of a company which elects to apply the small companies regime, the information specified in paragraphs 52 and 53 of Schedule 3A, and in the case of all other companies the information specified in paragraphs 59 to 63 of Schedule 3” for “The entity profit and loss account together with the information specified in paragraphs 62 to 66 of Schedule 3”.