The Group Accounts Clause Samples
The Group Accounts clause defines the requirements and procedures for preparing and presenting consolidated financial statements for a group of related companies. Typically, this clause outlines which entities must be included in the group accounts, the accounting standards to be followed, and the frequency and deadlines for submission. By establishing clear guidelines for group financial reporting, the clause ensures transparency and consistency in the financial information provided to stakeholders, thereby facilitating accurate assessment of the group’s overall financial position and performance.
The Group Accounts. (a) comply with all applicable statutory requirements and were prepared in accordance with accounting principles and practices generally accepted in the United Kingdom at the date they were audited including all relevant financial reporting standards and statements of standard accounting practice;
(b) show a true and fair view of the state of affairs of the Group as at the Accounts Date and the profits and losses of the Group for the financial year ended on the Accounts Date; and
(c) applied bases and policies of accounting which were consistently applied in the audited consolidated financial statements of the Group for each of the 2 financial years ended on the Accounts Date (a complete and accurate copy of each of which is contained in the Disclosure Documents).
The Group Accounts. 1.3.1 comply with all applicable statutory requirements and were prepared in accordance with UK GAAP;
1.3.2 give a true and fair view of the state of affairs of the Group Companies as at the Accounts Date and the profits and losses of the Group Companies for the financial year ended on the Accounts Date; and
1.3.3 applied bases and policies of accounting which were consistently applied in the audited consolidated financial statements of the Group Companies for each of the 3 financial years ended on the Accounts Date (a complete and accurate copy of each of which is attached to the Disclosure Letter).
The Group Accounts. (a) show a true and fair view of the state of affairs of the Company and the Subsidiaries as at the Accounts Date, and of their profit or loss and total comprehensive income for the accounting period ended on the Accounts Date;
(b) (save as the Group Accounts expressly disclose) are not affected by any extraordinary, exceptional or non-recurring items; and
(c) (save as the Group Accounts expressly disclose) have been prepared using the same accounting policies and estimation techniques as those adopted and applied in preparing the Previous Accounts.
The Group Accounts. 18.1.1 fairly present in all material respects the consolidated financial position of the Company's Group as at the Accounts Date, and of its profit or loss and total comprehensive income for the accounting period ended on the Accounts Date; and
18.1.2 have been prepared in all material respects in accordance with IFRS.
The Group Accounts. 7.1.1 show a true and fair view of the state of affairs of the Company AILIL, and BLW as at the Accounts Date, and of their profit or loss and total comprehensive income for the accounting period ended on the Accounts Date;
7.1.2 have been properly prepared in accordance with IFRS; and
7.1.3 comply with the requirements of the Companies A▇▇ ▇▇▇▇ of Bermuda and all other applicable laws and regulations in Bermuda.