72Annual statement of accounts

72 Annual statement of accounts (1) Before the end of the period within which the first annual general meeting or any subsequent annual general meeting of an incorporated association is required to be held under section 68 or 69, the committee of the association must prepare a statement of the association’s accounts. (2) The statement of accounts must not be misleading and must give a true and fair account of— (a) the income and expenditure of the association during the most recently ended financial year of the association; and (b) the assets and liabilities of the association at the end of that (c) any mortgages, charges or other securities of any description affecting any property of the association at the end of that (d) for each trust of which the association was the trustee during a period in that financial year, being part or all of that financial year— (i) the income and expenditure of the trust during that period; and (ii) the assets and liabilities of the trust at the end of that period; and (iii) any mortgages, charges or other securities of any description affecting any of the property of the trust during that period; and (e) any prescribed matters.