The following Corporate practice note produced in partnership with Tessa Park of Moore Kingston Smith provides comprehensive and up to date legal information covering:
This Practice Note outlines the provisions of the Companies Act 2006 (CA 2006) relating to the annual accounts of a company.
The CA 2006 sets out detailed provisions relating to the preparation of annual accounts and reports by a company. The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015, SI 2015/980 (2015 Regulations) implemented the requirements of the EU Accounting Directive (Directive 2013/34/EU) into UK law. The 2015 Regulations made a wide range of amendments to the CA 2006, particularly in relation to the small companies regime. The 2015 Regulations apply to financial periods beginning on or after 1 January 2016.
This Practice Note, along with Practice Note: Accounts and reports—individual and group accounts, outlines the requirements set out in those statutory provisions.
There are also additional rules relating to accounts and reports that apply to a listed company, an AIM company or a company with securities traded on the AQSE Main Market, AQSE Growth Market or AQSE Trading (formerly NEX Exchange Main Board, NEX Exchange Growth Market and NEX Exchange Secondary Market), which are outside the scope of this Practice Note.
The degree to which financial reporting will be impacted by Brexit is yet to be fully seen (see Brexit—accounts and reports). A UK body for endorsement of UK adopted IFRS has now been set up and going forward, IFRS accounts will be prepared in accordance
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Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely solely on the legal title. In the case of registered land, this means the entries entered on the register of title, as it records ownership of the legal
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an
Produced with input from Rebecca Cousin of Slaughter and May on market practice.This Practice Note summarises the rules and guidance in relation to parties who are, or may be presumed to be, acting in concert for the purposes of The City Code on Takeovers and Mergers (the Code). In particular the
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