Regulation 6 Consolidated accounts
Where a charity with one or more subsidiary undertakings, has a combined gross income after the removal of consolidated adjustments of £500,000 or more in a financial year, the charity shall prepare consolidated accounts in accordance with the methods and principles in the SORP.
Subject to paragraphs (3) and (4), a charity which has prepared consolidated accounts in accordance with paragraph (1), and its subsidiary undertakings which are charities shall also prepare a statement of account in accordance with regulation 8 or 9.
Where a charity with one or more subsidiary undertakings prepares consolidated accounts in accordance with paragraph (1), it may prepare a consolidated annual report, which shall–
be prepared in accordance with regulation 8 or 9 depending on the level of the combined gross income of the charity and its subsidiary undertakings; and
contain the information required by regulation 8 or 9 for each charity.
A charity which is a subsidiary undertaking which has had a consolidated annual report prepared shall not be required to prepare a separate annual report as may otherwise be required by regulation 8(1)(e) or 9(1)(d), provided its statement of account specifies–
that a consolidated annual report has been prepared, and
where the consolidated annual report can be obtained.