Ireland · The accounting Schedules
The small companies regime: Schedule 3A financial statements and Schedule 4A group financial statements
the Companies Act 2014 · Schedules 3A and 4A
Where the problem is
The small companies regime is a different Schedule, not a shortened version of Schedule 3, and the paragraph numbers differ. Where Schedule 3A paragraph 34(1) applies in the case of a fixed asset, the amount of any value adjustment for depreciation is dealt with as paragraph 34(3) requires. A company that answers the Schedule 3 paragraph and files it has cited the wrong Schedule.
The group version is Schedule 4A and it carries its own goodwill rule. The resulting amount under Schedule 4A paragraph 14(6)(a), if positive, is treated as goodwill and the provisions of Schedule 3A apply to it. A small group that applies the Schedule 4 treatment has again used the wrong Schedule.
What the Companies Act 2014 requires
Schedule 3A sets the formats, accounting principles, value adjustments and notes for a company qualifying for the small companies regime. In respect of each item shown under creditors in the balance sheet, the aggregate amounts Schedule 3A paragraph 50(1) identifies must be stated, which is the small company equivalent of the Schedule 3 paragraph 56(1) analysis.
Schedule 4A sets the rules for group financial statements prepared under the small companies regime, including consolidation, acquisition accounting and the goodwill treatment described above. Whether a company or group is in the regime is decided under sections 280A and 280B, so the size assessment comes first and the Schedule follows from it.
The tool that solves it
Files 210, 211 and 214 of the IE-COMPANY package cover this situation. File 210 works through the Schedule 3A accounting principles and value adjustments. File 211 works through the information required in the Schedule 3A notes. File 214 works through Schedule 4A group financial statements under the small companies regime. Each file first confirms, from the passport, that the company is in the regime before asking anything else.
This situation is covered by these files from the pack IE-COMPANY
- File 210 · Schedule 3A: the small companies regime, accounting principles and value adjustments
- File 211 · Schedule 3A: the small companies regime, information required in the notes
- File 214 · Schedule 4A: group financial statements under the small companies regime
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