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Section 77: Year of account: societies registered on or after 8 January 2012

Co-operative and Community Benefit Societies Act 2014 · 2014 c. 14View on legislation.gov.uk

Part 7: Accounts, audit and annual returns

This section applies to a registered society registered on or after 8 January 2012.

The society's first year of account is the period of more than 6 months but not more than 18 months that—

begins with the date of the society's registration, and
ends with its accounting reference date.

Each subsequent year of account—

begins immediately after the end of the previous year of account, and
ends with its next accounting reference date.

In each calendar year, the society's "accounting reference date" is (subject to subsection (5)) the last day of the month in which the anniversary of the society's registration falls.

The society may by notice to the FCA specify a new accounting reference date having effect in relation to its current and subsequent years of account.

A notice under subsection (5) must state whether the current year of account—

is to be shortened, so as to come to an end on the first occasion on which the new accounting reference date falls or fell after the beginning of the year of account, or
is to be extended, so as to come to an end on the second such occasion.

A notice extending the current year of account has no effect if—

it is given less than 5 years after the end of a year of account that was extended under this section, or
it would extend the year of account so that it would exceed 18 months.

If the society is dissolved by an instrument of dissolution under section 119, its last year of account ends with the date of the instrument of dissolution.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.