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Section 408: Individual profit and loss account where group accounts prepared

Companies Act 2006 · 2006 c. 46View on legislation.gov.uk

Part 15: Accounts and reports — Chapter 4: Annual accounts

This section applies where—

a company prepares group accounts in accordance with this Act, and
the company's individual balance sheet shows the company's profit and loss for the financial year determined in accordance with this Act.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The company's individual profit and loss account must be approved in accordance with section 414(1) (approval by directors) but may be omitted from the company's annual accounts for the purposes of the other provisions of the Companies Acts.

The exemption conferred by this section is conditional upon its being disclosed in the company's annual accounts that the exemption applies.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.