(2) A company may not include in its balance sheet assets pledged or otherwise assigned to it as security unless such assets are in the form of cash in the hands of the company. (3) In analysing for the purposes of this paragraph the source (in terms of business or in terms of market) of turnover, the directors of the company must have regard to the manner in which the company’s activities are organised. (3) If the number of debts is such that, in the opinion of the directors, compliance with sub-paragraph (2) would result in a statement of excessive length, it is sufficient to give a general indication of the terms of payment or repayment and the rates of any interest payable on the debts. (c)the reasons for not making a provision for diminution in value of those assets, including the nature of the evidence that provides the basis for the belief that the amount at which they are stated in the accounts will be recovered.
At this time, Q2 ave. fares are tracking ahead of peak S.19 (pre-Covid) levels by a low double digit percentage. Ryanair plans to grow FY23 traffic to 165m (+11% on pre-Covid traffic) and will pursue its load active, yield passive strategy to achieve this growth. Despite being one of the best hedged airlines in Europe, high oil prices will lead to increased costs on our 20% unhedged fuel for the remainder of FY23. Given our later booking profile, the lack of visibility, volatile oil prices, potential Covid, geopolitical and supply chain risks, it is too soon to provide meaningful FY23 PAT guidance at this time. We hope to be in a better position to do so at the half year results in Nov. but, as our experience with Omicron last Nov. and Ukraine in Feb. shows, any guidance is subject to a very rapid change from unexpected events which are well beyond our control during what remains a very strong but still fragile recovery.”
Companies Act individual accounts: insurance companies
Global LNG supply was approximately 103.3 mt in the first quarter of 2023, growing by 2.5 mt, or 2.4%, compared to the first quarter of 2022, according to WoodMac. Over 2023, WoodMac estimates LNG supply will rise by about 12.2 mt, or 3%, with the majority of the increase coming from the United States (“U.S.”). During the first quarter of 2023, an average of 75% of U.S. exports were directed to Europe, a further increase from the 69% observed in 2022, according to Kpler Analytics. On April 6, 2023, the Partnership entered into an Agreement and Plan of Merger (the “Merger Agreement”) with GasLog and subsidiaries of GasLog. There were 1,203 available days (2) for the quarter ended March 31, 2023, as compared to 1,350 available days (2) for the quarter ended March 31, 2022. The quarter-over-quarter decrease is attributable to the sale of the Methane Shirley Elisabeth in September 2022 and the scheduled dry-docking of the GasLog Shanghai in the first quarter of 2023.
- “(4) Paragraph 3(1) of Schedule 3 to these Regulations (power to combine items) does not apply in relation to the additional items required by the above provisions of this paragraph.”.
- The Schedule re-enacts Schedule 4A to the 1985 Act and Schedule 4A to the 1986 Order, save that paragraphs 9, 13 and 17 have been simplified to facilitate convergence with international accounting standards.
- On the other hand, prepaid expenses imply that a company is liable to receive a service against which they have already made the payment.
- Global markets provide a range of important products and services to corporates, institutions and governments worldwide from executing trades and managing risk to providing quality research content.
- Their finance officer needs to estimate the liability rather than wait for an invoice with an exact figure.
- If the accounts appended are required by law to be audited, a copy of the auditor’s report must also be appended.
Specifically, significant judgement is required in respect of the assumptions related to the expected recovery of passenger demand and the subsequent flight schedules following the Covid-19 pandemic along with the potential for travel restrictions to be reimposed. All of these assumptions impact upon forecast fuel consumption, and minor changes to these assumptions could have a significant effect on the assessment of hedge effectiveness. Lower costs, coupled with higher load factors, saw (ex-fuel) unit cost per passenger drop to €30.
Annual & quarterly reports
This is because it describes revenue that hasn’t been earned, and therefore represents a product/service that is owed to the customer. If you’re running a subscription service and a customer decides to terminate their service, for example, you’ll need to return the revenue for the remaining period. So, even though this deferred revenue shows up in your business’s bank account, it can’t be counted as revenue just yet.
This item is to comprise commitments entered into by the company in the context of sale and option to resell transactions. This item must include all subordinated liabilities, whether or not a ranking has been agreed between the subordinated creditors concerned. This item is to comprise all liabilities in respect of which there is a contractual obligation that, in the event of winding up or bankruptcy, they are to be repaid only after the claims of other creditors have been met. (2) Where an amount can be shown for the item in question for the immediately preceding financial year, that amount must be shown under the heading or sub-heading required by the format for that item. (2) Particulars of any change must be given in a note to the accounts in which the new format is first used, and the reasons for the change must be explained.
25.—(1) Where the amount repayable on any debt owed by a company is greater than the value of the consideration received in the transaction giving rise to the debt, the amount of the difference may be treated as an asset. (2) This is subject to any provision for depreciation or diminution in value made in accordance with paragraphs 18 to 20. https://grindsuccess.com/bookkeeping-for-startups/ (2) References in this Schedule to the items listed in any of the formats in Section B are to those items read together with any of the notes following the formats which apply to those items. While someaccounting systemscan automate the amortization of the prepaid rent payment, a review of the account should occur every accounting period.
The Group uses financial instruments to manage exposures arising from these risks. Ancillary revenues comprise of revenues from non-flight scheduled operations, in-flight sales and Internet related services. Non-flight scheduled revenue arises from the sale of priority boarding, allocated seats, car hire, travel insurance, airport transfers, room reservations and other sources, including excess baggage charges and other fees, all directly attributable to the low-fares business. In accordance with IFRS 8 paragraph 13, revenue by country of origin has been provided where revenue for that country is in excess of 10% of total revenue. “Other European countries” includes all other countries in which the Group has operations.
(b)if not, its financial year ending last before the end of the company’s financial year. (5) Information otherwise required by this paragraph need not be given if it is not material. (2) Disclosure of any amount referred to in sub-paragraph (1) is not required if it does not exceed 5 per cent of total gross premiums. (3) Disclosure of any amount referred to in sub-paragraph (2)(a) or (2)(b)(i), (ii) or (iii) is not required if it does not exceed 10 per cent of the gross premiums written or (as the case may be) of the gross premiums written by way of direct insurance. (4) The company must in any event disclose the amounts relating to the three largest groups of classes in its business. 65.—(1) Where shares of more than one class have been allotted, the number and aggregate nominal value of shares of each class allotted must be given.
- (4) If copies of the group accounts referred to in sub-paragraph (1) are available to the public, there must also be stated the addresses from which copies of the accounts can be obtained.
- The Group is engaged in litigation arising in the ordinary course of its business.
- (4) Any provisions made under sub-paragraph (2) or (3) which are not shown in the profit and loss account must be disclosed (either separately or in aggregate) in a note to the accounts.
- Adjusted EBITDA (1) was $76.3 million for the quarter ended March 31, 2023, compared to $60.9 million for the same period in 2022.
- Paragraph 72 of Schedule 1 to these Regulations applies to transactions which the parent company, or other undertakings included in the consolidation, have entered into with related parties, unless they are intra group transactions.
- Must be stated separately from the other commitments within that sub-paragraph (and commitments within paragraph (a) must be stated separately from those within paragraph (b)).
Some landlords actually require prepaid rent for high-value, specialized properties. An operating cycle consists of lead time, production time, sales time, delivery time, and cash-collection time. Learn the definitions of the parts of the operating cycle, how long the operation cycles are for different industries, and the formula used for calculating the operating cycle in accounting. Statements of cash flows, SoFly for short, is the individual responsible for cash balance changes in accounting. Learn the purpose and format of the statement of cash flows through examples, and the five reasons it’s important to the company. Closing entries are an important component of the accounting cycle in which balances from temporary accounts are transferred to permanent accounts.
The directors’ report for the year is not, by virtue of sub-paragraph (1), required to contain the particulars specified in sub-paragraph (2). In addition to the information required by section 416 of the 2006 Act, the directors’ report must contain the following information. (3) In the case of general business, investment income, expenses and charges may be disclosed in the non-technical account rather than in the technical account. “(4) Paragraph 3(1) of Schedule 3 to these Regulations (power to combine items) does not apply in relation to the additional items required by the above provisions of this paragraph.”. (3) The composition and fair value of the consideration for the acquisition given by the parent company and its subsidiary undertakings must be stated. (4) The group accounts must show corresponding amounts relating to the previous financial year as if the undertaking acquired had been included in the consolidation throughout that year.
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- (5) In the case of subsidiary undertakings which do not have a head office in the United Kingdom, the computation required by paragraph 52 must be made annually by an actuary or other specialist in the field on the basis of recognised actuarial methods.
- The Schedules re-enact Schedules 5 and 6 to the 1985 Act and Schedules 5 and 6 to the 1986 Order.
- Prepaid expenses are the money set aside for goods or services before you receive delivery.
- (3) Disclosure of any amount referred to in sub-paragraph (2)(a) or (2)(b)(i), (ii) or (iii) is not required if it does not exceed 10 per cent of the gross premiums written or (as the case may be) of the gross premiums written by way of direct insurance.
- (3) Any provisions made under sub-paragraph (1) or (2) which are not shown in the profit and loss account must be disclosed (either separately or in aggregate) in a note to the accounts.