With effect on financial statements commencing the 1st January 2016 onwards, statutory instrument 2015/980 is changing the format of UK accounts. Let’s look at the main changes for medium companies and group accounts:
The new size limits for medium companies are as follows:
Changes for medium sized companies:
The new size limits for groups requirement consolidation are as follows:
Order of the notes
The 2015 Regulations bring in requirements about the order notes must be presented in the accounts. Notes must now be presented in the corresponding order of presentation in the profit and loss accounts and balance sheet.
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