Companies (Amendment) Act, 1986
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Exemption for small companies from certain provisions of sections 3 and 7 . |
10.—(1) Notwithstanding paragraph (a) of section 3 (1) of this Act, but subject to paragraph (b) of the said section 3 (1), the directors of a company treated as a small company pursuant to section 8 (1) of this Act may draw up an abridged balance sheet showing only those items preceded by letters or roman numerals in Formats 1 and 2 of the balance sheet formats set out in the Schedule to this Act: | |
Provided that the total amounts falling due within one year and after one year shall be shown separately for item B.II in Format 1 and items B.II under “Assets” and C under “Liabilities” in Format 2 of the balance sheet formats in relation to debtors and creditors. | ||
(2) A company treated as a small company pursuant to section 8 (1) of this Act may, in lieu of complying with the requirements in that behalf in section 7 of this Act, annex to the annual return in relation to the company referred to in that section a copy of the balance sheet of the company drawn up in accordance with subsection (1) of this section in respect of the period to which the return refers and, notwithstanding the said section 7 , the company shall not be required to annex to the return a copy of the profit and loss account of the company or the report of the directors accompanying the balance sheet of the company. |