Ireland · The accounting Schedules
Schedule 3: notes on capital, fixed assets, indebtedness, turnover, taxation and group undertakings
the Companies Act 2014 · Schedule 3
Where the problem is
The note requirements are triggered by events in the year rather than by balances at the year end, and that is what companies miss. If the company has issued any debentures during the financial year to which the financial statements relate, the information Schedule 3 paragraph 45(1) lists must be given. A debenture issued and repaid inside the year leaves no balance but still requires the note.
Creditor analysis is required item by item. In respect of each item shown under creditors in the balance sheet, the aggregate amounts Schedule 3 paragraph 56(1) identifies must be stated. A single maturity table for total creditors does not answer the paragraph.
What the Companies Act 2014 requires
Schedule 3 requires notes on capital, reserves and provisions, on fixed assets, indebtedness and guarantees, and on turnover, taxation and remuneration. Each of the amounts paragraph 60 lists must be stated, beginning with the amount of interest on, or any similar expenses in respect of, the items that paragraph identifies.
The Schedule also requires notes on group undertakings and the holding undertaking. Subject to paragraph 65(3), particulars must be given in the notes of transactions of the kind paragraph 65(1) describes. These notes are read with the sections 314 to 323 requirements, so the same underlying data answers both.
The tool that solves it
Files 201, 202, 203 and 204 of the IE-COMPANY package cover this situation. File 201 works through the notes on capital, reserves and provisions. File 202 works through the notes on fixed assets, indebtedness and guarantees. File 203 works through the notes on turnover, taxation and remuneration. File 204 works through the notes on group undertakings, the holding undertaking and related party transactions.
This situation is covered by these files from the pack IE-COMPANY
- File 201 · Schedule 3: notes to the accounts on capital, reserves and provisions
- File 202 · Schedule 3: notes to the accounts on fixed assets, indebtedness and guarantees
- File 203 · Schedule 3: notes to the accounts on turnover, taxation and remuneration
- File 204 · Schedule 3: notes to the accounts on group undertakings and the holding undertaking
Files for this situation
Free · this situation only
The working files named above cover this situation. You take them from your free ComplianceSME account when this situation arises, and you come back to the site for the next situation.
You take the starter pack first: PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that the other files require. The situations open in your account once you have taken the starter pack.
Take the files for this situationThe free system
Free · with a free account
The ComplianceSME system for the Companies Act 2014 is free. It needs a free ComplianceSME account and runs inside your own Claude account. It holds 215 working files, the training file, the reference file in four volumes, the regulation analysis, the final review with the gap analysis, and the report assembly. You take the starter pack first, and after that the files for one situation at a time, as each situation arises.
The starter pack holds PRINT_ME_FIRST.pdf, the training file T_TRAIN, the four volumes of the reference file T_HELP, and File 1, which builds the ENTITY_PASSPORT.md that every other working file requires. Print PRINT_ME_FIRST.pdf and read it before any other file.
The system runs in your own Claude account. Upload the files, type START, and the system asks you one question at a time until it has built your documentation, citing the section at every point.
Take the starter packComplianceSME tracks the Companies Act 2014 and issues update files through the membership, so that you are never working from a superseded version. Membership