Regulation 4 Group accounts—supplementary provisions
If the financial year of any relevant subsidiary does not coincide with that of the society, the components of the annual accounts relating to the society and its relevant subsidiaries shall, so far as they relate to that subsidiary, relate to its financial year ending last before the end of the financial year of the society dealt with in the annual accounts unless—
the directors of the society are of the opinion that there are good reasons against it, and
they disclose those reasons in the notes to the annual accounts.
Each particular account which is a group account shall combine the information contained in the particular account of the society and the accounts of its relevant subsidiaries from which it is derived, adjusted so far as is necessary to consolidate those accounts.
Where a society has subsidiaries whose financial years do not end with that of the society, the following information shall be given in relation to each such subsidiary by way of a note to the annual accounts, that is to say—
the reasons why the society’s directors consider that the subsidiaries' financial years should not end with that of the society, and
the dates on which the subsidiaries' financial years ending last before that of the society respectively ended or the earliest and latest of those dates.