Accounting reference period (ARP) definition

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A company’s financial year

A company’s financial year STOP PRESS: A significant restructuring of the UK listing regime came into effect on 29 July 2024 which included the removal of the premium and standard listing segments and the creation of a single listing category for equity shares in commercial companies. The commercial companies category is heavily disclosure-based and sits alongside other listing categories such as the shell companies, secondary listing and closed ended investment fund categories. A new UK Listing Rules sourcebook came into force to implement the changes and the previous Listing Rules sourcebook was revoked. For further information, see Practice Note: Reform of the UK listing regime—fundamentals. This Practice Note reflects the listing regime as it was prior to 29 July 2024. The determination of a company’s financial year is a complex process involving the determination of its accounting reference date (ARD) and its accounting reference period (ARP). A company’s financial year is determined by reference to its accounting reference period: it will be the same as that period, save that...

Audit and auditors—glossary

Audit and auditors—glossary A Accounting reference period (ARP) Usually the period of 12 months over which a company draws up its accounts. If the company's accounting period does not coincide with its period of account or if the accounting period spans more than one financial year, the profits must be apportioned (see accounting reference date (ARD) and Practice Note: Basic principles of corporation tax—overview). Accounting reference date (ARD) A company’s accounting reference period (ARP) is determined by reference to its accounting reference date: it ends on that date. The ARD is normally the last day of the month in which the anniversary of the company’s incorporation falls (CA 2006, s 391). For further information see Practice Note: A company's financial year. Accounts meeting The particular general meeting of the company at which its annual accounts and reports are (or are to be) laid in accordance with CA 2006, s 437, most typically its annual general meeting (AGM). Annual accounts CA 2006, s...