(1) A profit and loss account required by section 26(1)(b) shall be prepared in accordance with Form C and shall show—
(a) the amounts respectively transferred to and transferred from each revenue account of the company for the financial year;
(b) the amount of interest on loans not shown in the revenue account, and deducted from interest on income;
(c) the amount respectively provided for redemption of share capital and for redemption of loans;
(d) the amount of expenses of management not shown in the revenue account;
(e) the amount of taxation not shown in the revenue account;
(f) the amount of other expenditure not shown in the revenue account classified under appropriate headings;
(g) the aggregate amount of interest, dividends and rents (before deduction of tax) not shown in the revenue account;
(h) the amount of other income not shown in the revenue account classified under appropriate headings;
(i) the aggregate amount (before deduction of income tax) of the dividends to shareholders paid and proposed.
(2) The amount of any charge arising in consequence of the occurrence of an event in a preceding financial year and of any debit or credit so arising shall, if not included in a heading relating to other matters, be stated under a separate heading.
(3) Any material respects in which any items shown in the profit and loss account are affected—
(a) by transactions of a sort not usually undertaken by the company or otherwise by circumstances of an exceptional or non- recurrent nature; or
(b) by any change in the basis of accounting
shall be stated by way of note if not otherwise shown.