Question:
A company was incorporated in early January 2021. The first 6 month annual return was completed in early July 2021. Therefore, the next ARD is 12 months later – July 2022 – to include the first annual return with accounts.

Our client would like the accounting period end to be 30th June 2022. Date of incorporation to 30th June 2022 would be just less than 18 months. However, we would not get the accounts done on time every year if the ARD was early July.

Can we file a B1B73 to push the ARD from July 2022 to January 2023 (6 months) to submit accounts at the 30th June 2022? I’m not sure this is allowed as we would technically have no financial statements filed within 18 months of incorporation.

Answer:

Firstly we should look at the requirements for change ARD and change of year end. Yes, you are correct, new companies which are due to file financial statements with their second ‘full’ annual return, is required to be made up to a date not later than 18 months post-incorporation, unless the company alters its ARD.

Change of ARD using Form B73 (CORE only form)

New ARD, which date may be not later than six months after its first ARD
Cannot be filed more than once in every five years
A company that is a member of a group may align its ARD with its holding company or other subsidiaries by filing a Form B78A with the CRO (no 5 year restriction)
Must be delivered to the CRO within 56 days from the company’s existing ARD
Filed on CORE – B1B73 Form
Year End
financial year cannot be in excess of 18 months or
Bearing in mind that the ARD cannot be more than 9 months after the financial year end
Cannot be a gap in the periods covered by the company’s financial statements
Taking the above into account, Currently you have a ARD of 07/2022 with a desired ARD of 01/2023, as long as this period Is within six months this is permitted as it will also be no more than 18months from you’re incorporation to you’re year end of 30.06.2022. This year end is also within the 9 month ARD requirement for year ends.

When filing B1B73 you’ll have to ensure the form is registered if not the change is not in place.