§ Mr. Deputy SpeakerWith this we may take Government amendments Nos. 118 to 120.
§ Mr. EyreThe amendments require the amount for creditors in respect of taxation and social security to be shown separately from the amount for "other creditors". The European Commission pointed out that procedure to the Government as it is required by the text of the original directive.
Amendment agreed to.
Amendments made: No. 118, in page 115, line 17, at end insert '(8A)'.
No. 119, in page 117, line 24, at end insert '(8A)'.
No. 120, in page 118, line 41, at end insert—
'(8A) Other creditors including taxation and social security (Format 1, items E.8 and H.8 and Format 2, item C.8)'The amount for creditors in respect of taxation and social security shall be shown separately from the amount for other creditors'.—[Mr. Brooke.]
§ Mr. EyreI beg to move amendment No. 121, in page 129, line 17, at beginning insert
'Subject to sub-paragraph (4A) below'.
§ Mr. Deputy SpeakerWith this we may take Government amendments Nos. 122 and 123.
§ Mr. EyreThe effect of the amendments is that in determining the "relevant alternative amount" for the purpose of paragraph 27(3)(b) of schedule 1, the most recent actual purchase price or production cost is to be used only if it is more appropriate than the replacement cost.
Amendment agreed to.
Amendments made: No. 122, in page 129, line 23, leave out from 'date' to end of line 28.
No. 123, in page 129, line 28, at end insert—
'(4A) The relevant alternative amount may be determined by reference to the most recent actual purchase price or production cost before the balance sheet date of assets of any class included under the item in question instead of by reference to their replacement cost as at that date, but only if the former appears to the directors of the company to constitute the more appropriate standard of comparison in the case of assets of that class.'.—[Mr. Brooke.]
§ Mr. EyreI beg to move amendment No. 124, in page 130, line 20, leave out
'either item B.III or item C.III'and insert 'item B.III'.
§ Mr. Deputy SpeakerWith this we may take Government amendment No. 125.
§ Mr. EyreThe amendments allow current asset investments to be included in the accounts at current cost as opposed to the present draft of paragraph 31(3) of schedule 1 which allows them to be included at either market value or a valuation considered appropriate by the directors.
Amendment agreed to.
Amendment made: No. 125, in page 130, line 29, at end insert— 245
'(3A) Investments of any description falling to be included under item C.III of either of the balance sheet formats set out in Part I of this Schedule may be included at their current cost.'.—[Mr. Brooke.]
§ Mr. EyreI beg to move amendment No. 126, in page 134, line 29, leave out from 'item' to end of line 29 and insert 'either—'.
§ Mr. Deputy SpeakerWith this we may take Government amendments Nos. 127 and 128.
§ Mr. EyreThe House will be pleased to know that the amendments clarify that the table of fixed asset movements should disclose the gross amount of assets rather than the net book amounts.
Amendment agreed to.
Amendments made: No. 127, in page 134, line 32, leave out 'and' and insert 'or'.
No. 128, in page 134, line 33, at end insert—
'(leaving out of account in either case any provisions for depreciation or diminution in value)'.—[Mr. Brooke.]
§ Mr. EyreI beg to move amendment No. 129, in page 136, line 11, at end insert—
'(3) Particulars shall be given of each provision included in the item "other provisions" in the company's balance sheet in any case where the amount of that provision is material.'.The amendment requires provisions shown in the balance sheet under "other provisions" to be disclosed in the notes on the accounts if they are material.
Amendment agreed to.
§ Mr. EyreI beg to move amendment No. 130, in page 136, line 17, leave out from 'sheet' to 'are' in line 19 and insert
'there shall be stated—'(a) the aggregate amount of any debts included under that items which'.
§ Mr. Deputy SpeakerWith this it will be convenient to take Government amendments Nos. 131 and 132.
§ Mr. EyreThese are minor technical amendments which, to comply fully with the provisions of the directive, make it clear that the aggregate amounts of the debts payable by instalments and other than by instalments are to be disclosed separately.
Amendment agreed to.
Amendments made: No. 131, in page 136, line 22, leave out from 'year' to 'are' in line 23 and insert
'and(b) the aggregate amount of any debts so included which'.No. 132, in page 136, line 25, leave out 'shall be stated'.—[Mr. Eyre.]
§ Mr. Deputy SpeakerWith this it will be convenient to take Government amendment No. 138.
§ Mr. EyreThese amendments are minor additions to paragraph 51(2) and schedule 2.
Amendment agreed to.
§ Mr. EyreI beg to move amendment No. 134, in page 141, line 38, leave out from first 'of' to end of line 39 and insert
'any of the following provisions, that is to say—
- sections 3 and 4 of the Companies Act 1967 (statement in notes to a company's accounts of proportion of share capital of subsidiaries or certain other bodies corporate held by that company, etc.);
- sections 54 and 56 of the Companies Act 1980
246 (particulars of certain loans etc. to directors and others to be disclosed in notes to a company's accounts); and - paragraphs 42 and 46 above.'.
By adding to paragraph 58(3), the amendment provides for further items in respect of which corresponding amounts for the preceding financial year are not required to be disclosed.
Amendment agreed to.
§ Mr. Deputy SpeakerWith this it will be convenient to take Government amendment No. 136.
§ Mr. EyreThese are minor clarifying amendments which extend the declaratory provision in paragraph 90 of schedule 1 on realised profits to make it clear that that provision is without prejudice to any specific provision for the treatment of profits as realised.
Amendment agreed to.
Amendment made: No. 136, in page 147, line 38, after 'practice', insert
'or (b) any specific provision for the treatment of profits of any description as realised'.—[Mr. Eyre.]
§ Mr. EyreI beg to move amendment No. 137, in page 149, line 13, at end add—
'Wholly owned subsidiaries95. In this Schedule, "wholly owned subsidiary" has the same meaning as it has for the purposes of section 150 of this Act.'.This is merely a clarifying amendment.
Amendment agreed to.