PART 4ACCOUNTS ETC ON CONVERSION

Preparation of accounts, reports and returns14

1

For the purposes of the provisions of the 2011 Act specified in paragraph (2), the following are to be treated as financial years of a conversion CIO—

a

a financial year beginning and ending before the conversion (“a pre-conversion financial year”); and

b

a financial year beginning before and ending after the conversion (“a conversion financial year”).

2

The provisions specified for the purposes of paragraph (1) are—

a

section 132(1) (obligation to prepare statement of accounts)8;

b

section 138 (preparation of group accounts);

c

section 144 (audit of accounts of larger charities)9;

d

section 162(1) (obligation to prepare annual report)10;

e

section 169 (annual returns by registered charities).

3

For the purposes of complying with the provisions specified in paragraph (2)(a) or (b), the charity trustees of a conversion CIO must prepare—

a

in relation to a pre-conversion financial year, a statement of accounts complying with the requirements imposed on companies by or under the 2006 Act;

b

in relation to a conversion financial year, a statement of accounts complying with the requirements imposed on CIOs by or under the 2011 Act.