The Accounts and Audit Regulations 2003

Other accounting statements

9.—(1) A body to which paragraph (2) applies shall prepare in accordance with proper practices an income and expenditure account and a balance sheet of the body for each year.

(2) This paragraph applies to the following bodies—

(a)any charter trustees constituted under section 246 of the Local Government Act 1972 or under an order or regulations made under sections 17 or 19 of the Local Government Act 1992(1);

(b)a port health authority(2);

(c)a licensing planning committee(3); and

(d)an internal drainage board(4).

(3) Where in relation to a parish council, or a parish meeting, the gross income or expenditure (whichever is the higher) for the year is, and for each of the two immediately preceding years was less than £500,000 and—

(a)was less than £100,000 for the year or for either of the two immediately preceding years, the council or the chairman of the meeting, as the case may be, shall prepare in accordance with and in the form specified in any Annual Return required by proper practices—

(i)a record of receipts and payments of the council or meeting in relation to that period; or

(ii)an income and expenditure account and a statement of balances of the council or meeting in relation to that period; or

(b)was £100,000 or more for the year and for each of the two immediately preceding years, the council or the chairman of the meeting, as the case may be, shall prepare in accordance with and in the form specified in any Annual Return required by proper practices an income and expenditure account and a statement of balances of the council or meeting in relation to that period.

(4) This Regulation shall apply in respect of the year ending with 31st March 2003 as well as subsequent years.