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4. (1) The reserves, provision, liabilities and assets shall be classified under headings appropriate to the company's business:
Provided that
(a) where the amount of any class is not material, it may be included
under the same heading as some other class; and
(b) where any assels of one class are not separable from assets of another class, those assets may be included under the same heading.
(2) Fixed assets, current assets and assets that are neither fixed nor cument shall be separately identified.
(3) The method or methods used to arrive at the amount of the fixed assets under each heading shall be stated.
5. (1) The method of arriving at the amount of any fixed asset shall, nubject to sub-paragraph (2), be to take the disserence between~-~
(a) Its cost or, if it stands in the company's books at a valuation,
the amount of the valuation; and
(b) the aggregate amount provided or written off since the date of acquisition or valuation, as the case may be, for depreciation CHE diminution in value:
and for the purposes of this paragraph the net amount at which any assers stand in the company's books at 1st October 1975 (after deduction of the amounts previously provided or written off for depreciation or diminution in valuo) shall, if the figures relating to the period before Ist October 1975 cannot be obtained without unreasonable expense or delay. be treated as if it were the amount of a valuation of those assets made at 1st October 1975 and, where any of those assels are sold, the said net amount less the amount of the sales shall be treated as if it were the amount of a valuation so made of the remaining assets.
(2) Sub-paragraph (1) shall not apply-
(4) to assets for which the figures relating to the period beginning with 1st October 1975 cannot be obtained without unreasonable expetise or delay; or
(b) to assets the replacement of which is provided for wholly or
partly
(i) by making provision for renewals and charging the cost of replacement against the provision so made; or
(ii) by charging the cost of replacement direct to revenue; or (c) to any quoted investments or to any unquoted investments of which the value as estimated by the directors is shown either as the amount of the investments or by way of note; or
(d) to goodwill, patents or trade marks.
(3) For the assets under each heading whose amount is arrived at in accordance with sub-paragraph (1), there shall be shown-
(a) the aggregate of the amounts referred to in paragraph (0) of that
sub-paragraph; and
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(b) the aggregate of the amounts referred to in paragraph (6)
thereof.
(4) As respects the assets under each heading whose amount is not arrived at in accordance with sub-paragraph (1) because their replacement is provided for as mentioned in sub-paragraph (2)(6), there shall be stated
(a) the means by which their replacement is provided for; and
(6) the aggregate amount of the provision (if any) made for renewals
and not used.
6. The aggregate amounts respectively of reserves and provisions (other than provisions for depreciation, renewals or diminution in value of assets) shall be stated under separate headings:
Provided that-
(2) this paragraph shall not require a separate statement of either of
the said amounts which is not material; and
(6) the Financial Secretary may direct that it shall not require a separate statement of the amount of provisions where he is satisfied that that is not required in the public interest and would prejudice the company, but subject to the condition that any heading stating an amount arrived at after taking into account a provision (other than as aforesaid) shall be so framed or marked as to indicate that fact,
7.
(0) There shall also be shown (unless it is shown in the profit and loss account or a statement or report annexed thereto, or the amount involved is not material)-
(a) where the amount of the reserves or of the provisions (other than provisions for depreciation, renewals or diminution in value of asseta) shows an increase as compared with the amount at the end of the immediately preceding financial year, the source from which the amount of the increase has been derived; and (8) where-
(i) the amount of the reserves shows a decrease as compared with the amount at the end of the immediately preceding financial year; or
(0) the amount at the end of the immediately proceding finan- cial year of the provisions (other than provisions for depreciation, renewals or diminution in value of assets) exceeded the aggre- gale of the sums since applied and amounts still retained for the purposes thereof;
the application of the amounts derived from the difference.
(2) Where the heading showing the reserves or any of the provisions aforesaid is divided into sub-headings, this paragraph shall apply to each of the separate amounts shown in the sub-headings instead of applying to the aggregate amount thereof.
8. If an amount is set aside for the purpose of its being used to prevent undue fluctuations in charges for taxation, it shall be stated.