Can Gameplay’s balance sheet (or indeed any balance sheet) ever be said to ‘reflect the net asset position of the company’?

According to UK company law, the overriding accounting rule is that accounts should show a ‘true and fair view’. Hence in individual circumstances it is possible for a company to prepare its accounts in a way that reflects its own circumstances. This article shows that Gameplay has decided to ignore current accounting standards by producing accounts without the comparative information for the preceding year.