[LukeGsy]

Hi,

I have a rather specific question, but something I’d greatly appreciate any assistance on.

It relates to the dates of Financial statements for the submission period 40 in May 2020.

The main entity most recent financial statements are as listed below, with the next set of financials not ready until after the May 2020 deadline:
1 April 2016 – 31 March 2017
1 April 2017 – 31 March 2018
1 April 2018 – 31 March 2019

However all comparative companies don’t have FY19 accounts available yet, with the below dates of published financials being the most recent:
1 January 2016 – 31 December 2016
1 January 2017 – 31 December 2017
1 January 2018 – 31 December 2018

The 2019 financials won’t be available until after the submission date for period 40 for any comparative company I’ve found.

There is only a three month difference in the financial year ends of the above, but the headings for comparison data vs actual is likely to look odd. Is it OK to use companies with the above dates as comparison?

If so could the headings be labelled as 2016/17, 2017/18 & 2018/19 for the main focus entity, with the comparisons labelled 2016, 2017, 2018 with an explanation paragraph or comment in the introduction explaining the slight difference to the reader, or how would you suggest best to do this?

I’m keen to make it clear to the reader that the data is a close comparison despite the different Year End dates, without over-complicating it.

Any help is greatly appreciated.

[LukeGsy]

Hi @trephena

For topic 8 can I ask how the financial statement dates for comparative companies works?

The main entity most recent financial statements are as listed below:
1 April 2016 – 31 March 2017
1 April 2017 – 31 March 2018
1 April 2018 – 31 March 2019

However all comparative companies don’t have FY19 accounts available yet, with the below dates of published financials being the most recent:
1 January 2016 – 31 December 2016
1 January 2017 – 31 December 2017
1 January 2018 – 31 December 2018

The 2019 financials won’t be available until after the submission date for period 40.

There is only a three month difference in the financial year ends of the above, however the headings for comparison data vs actual is likely to look odd.

Is it OK to use companies with the above dates as comparision?

If so could the headings be labelled as 2016/17, 2017/18 & 2018/19 for the main focus entity, with the comparisons labelled 2016, 2017, 2018 with an explanation paragraph or comment in the introduction explaining the slight difference.

Any help is greatly appreciated.

[Author]

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