http://www.legislation.gov.uk/nisr/2015/384/regulation/11/madeThe Charities (Accounts and Reports) Regulations (Northern Ireland) 2015enGovernment Printer for Northern Ireland2020-01-08CHARITIESThese Regulations make provision in respect of the preparation and scrutiny of accounts prepared by charities and the preparation of annual reports by charities. The Regulations also make provision for the preparation and scrutiny of group accounts and the preparation of group annual reports by parent charities. The Regulations apply to charities registered in the register of charities kept under section 16 of the Charities Act (Northern Ireland) 2008 (“the Act”) and for financial years beginning on or after 1st January 2016.PART 3PREPARATION OF GROUP ACCOUNTSCHAPTER 1GENERALMeaning of “aggregate gross income”11.(1)

For the purposes of Schedule 6 the aggregate gross income for a financial year of a group consisting of a parent charity and its subsidiary undertaking or undertakings is to be determined by eliminating all group transactions for that year from the group income for that year.

(2)

For the purposes of this regulation—

(a)

“corresponding financial year” has the meaning given by paragraph (3);

(b)

“gross income” means, in relation to a non-charitable subsidiary undertaking, the amount of income of that undertaking that would be construed as its gross income were it a charity;

(c)

“group income” means the aggregate of—

(i)

the gross income of the parent charity for the financial year;

(ii)

the gross income of each charitable subsidiary undertaking of that parent charity for the corresponding financial year; and

(iii)

the gross income of each non-charitable subsidiary undertaking of that parent charity for the corresponding financial year;

(d)

“group transactions” means—

(i)

all income and expenditure relating to transactions between members of the group;

(ii)

all gains and losses relating to transactions between members of the group;

(e)

“members of the group” is to be construed in accordance with paragraph 1(5) of Schedule 6.

(3)

Subject to paragraph (4), “corresponding financial year” in relation to a subsidiary undertaking means—

(a)

in the case of a subsidiary undertaking whose financial year ends with that of the parent charity, that year;

(b)

in any other case, the financial year of the subsidiary undertaking ending immediately before the end of the financial year of the parent charity.

(4)

If the figures for the corresponding financial year of a subsidiary undertaking cannot be obtained without disproportionate expense or undue delay, the latest available figures from the accounting records of the subsidiary undertaking for the same financial year as that of the parent charity are to be taken.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<act name="nisr">
<meta>
<identification source="#">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/nisr/2015/384"/>
<FRBRuri value="http://www.legislation.gov.uk/id/nisr/2015/384"/>
<FRBRdate date="2015-11-30" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/northern-ireland"/>
<FRBRcountry value="GB-NIR"/>
<FRBRsubtype value="regulation"/>
<FRBRnumber value="384"/>
<FRBRname value="S.R. 2015/384"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/nisr/2015/384/made"/>
<FRBRuri value="http://www.legislation.gov.uk/nisr/2015/384/made"/>
<FRBRdate date="2015-11-30" name="made"/>
<FRBRauthor href="#"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/nisr/2015/384/made/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/nisr/2015/384/made/data.akn"/>
<FRBRdate date="2024-12-12Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<lifecycle source="#">
<eventRef refersTo="#made" date="2015-11-30" eId="date-made" source="#"/>
<eventRef refersTo="#coming-into-force" date="2016-01-01" eId="date-cif-1" source="#"/>
</lifecycle>
<analysis source="#">
<otherAnalysis source=""/>
</analysis>
<references source="#">
<TLCEvent eId="made" href="" showAs="Made"/>
<TLCEvent eId="cif" href="" showAs="ComingIntoForce"/>
</references>
<proprietary xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" source="#">
<dc:identifier>http://www.legislation.gov.uk/nisr/2015/384/regulation/11/made</dc:identifier>
<dc:title>The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015</dc:title>
<dc:language>en</dc:language>
<dc:publisher>Government Printer for Northern Ireland</dc:publisher>
<dc:modified>2020-01-08</dc:modified>
<dc:subject scheme="SIheading">CHARITIES</dc:subject>
<dc:description>These Regulations make provision in respect of the preparation and scrutiny of accounts prepared by charities and the preparation of annual reports by charities. The Regulations also make provision for the preparation and scrutiny of group accounts and the preparation of group annual reports by parent charities. The Regulations apply to charities registered in the register of charities kept under section 16 of the Charities Act (Northern Ireland) 2008 (“the Act”) and for financial years beginning on or after 1st January 2016.</dc:description>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="NorthernIrelandStatutoryRule"/>
<ukm:DocumentStatus Value="final"/>
<ukm:DocumentMinorType Value="regulation"/>
</ukm:DocumentClassification>
<ukm:Year Value="2015"/>
<ukm:Number Value="384"/>
<ukm:Made Date="2015-11-30"/>
<ukm:ComingIntoForce>
<ukm:DateTime Date="2016-01-01"/>
</ukm:ComingIntoForce>
<ukm:ISBN Value="9780337999062"/>
</ukm:SecondaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/nisr/2015/384/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/nisr/2015/384/pdfs/nisrem_20150384_en.pdf" Date="2015-12-03" Title="Explanatory Memorandum" Size="392443"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/nisr/2015/384/pdfs/nisr_20150384_en.pdf" Date="2015-12-03" Size="208926"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="35"/>
<ukm:BodyParagraphs Value="35"/>
<ukm:ScheduleParagraphs Value="0"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</proprietary>
</meta>
<body>
<part eId="part-3">
<num>PART 3</num>
<heading>PREPARATION OF GROUP ACCOUNTS</heading>
<chapter eId="part-3-chapter-1">
<num>CHAPTER 1</num>
<heading>GENERAL</heading>
<hcontainer name="regulation" eId="regulation-11" uk:target="true">
<heading>Meaning of “aggregate gross income”</heading>
<num>11.</num>
<paragraph eId="regulation-11-1">
<num>(1)</num>
<content>
<p>For the purposes of Schedule 6 the aggregate gross income for a financial year of a group consisting of a parent charity and its subsidiary undertaking or undertakings is to be determined by eliminating all group transactions for that year from the group income for that year.</p>
</content>
</paragraph>
<paragraph eId="regulation-11-2">
<num>(2)</num>
<intro>
<p>For the purposes of this regulation—</p>
</intro>
<level class="para1" eId="regulation-11-2-a">
<num>(a)</num>
<content>
<p>“corresponding financial year” has the meaning given by paragraph (3);</p>
</content>
</level>
<level class="para1" eId="regulation-11-2-b">
<num>(b)</num>
<content>
<p>“gross income” means, in relation to a non-charitable subsidiary undertaking, the amount of income of that undertaking that would be construed as its gross income were it a charity;</p>
</content>
</level>
<level class="para1" eId="regulation-11-2-c">
<num>(c)</num>
<intro>
<p>“group income” means the aggregate of—</p>
</intro>
<level class="para2" eId="regulation-11-2-c-i">
<num>(i)</num>
<content>
<p>the gross income of the parent charity for the financial year;</p>
</content>
</level>
<level class="para2" eId="regulation-11-2-c-ii">
<num>(ii)</num>
<content>
<p>the gross income of each charitable subsidiary undertaking of that parent charity for the corresponding financial year; and</p>
</content>
</level>
<level class="para2" eId="regulation-11-2-c-iii">
<num>(iii)</num>
<content>
<p>the gross income of each non-charitable subsidiary undertaking of that parent charity for the corresponding financial year;</p>
</content>
</level>
</level>
<level class="para1" eId="regulation-11-2-d">
<num>(d)</num>
<intro>
<p>“group transactions” means—</p>
</intro>
<level class="para2" eId="regulation-11-2-d-i">
<num>(i)</num>
<content>
<p>all income and expenditure relating to transactions between members of the group;</p>
</content>
</level>
<level class="para2" eId="regulation-11-2-d-ii">
<num>(ii)</num>
<content>
<p>all gains and losses relating to transactions between members of the group;</p>
</content>
</level>
</level>
<level class="para1" eId="regulation-11-2-e">
<num>(e)</num>
<content>
<p>“members of the group” is to be construed in accordance with paragraph 1(5) of Schedule 6.</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-11-3">
<num>(3)</num>
<intro>
<p>Subject to paragraph (4), “corresponding financial year” in relation to a subsidiary undertaking means—</p>
</intro>
<level class="para1" eId="regulation-11-3-a">
<num>(a)</num>
<content>
<p>in the case of a subsidiary undertaking whose financial year ends with that of the parent charity, that year;</p>
</content>
</level>
<level class="para1" eId="regulation-11-3-b">
<num>(b)</num>
<content>
<p>in any other case, the financial year of the subsidiary undertaking ending immediately before the end of the financial year of the parent charity.</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-11-4">
<num>(4)</num>
<content>
<p>If the figures for the corresponding financial year of a subsidiary undertaking cannot be obtained without disproportionate expense or undue delay, the latest available figures from the accounting records of the subsidiary undertaking for the same financial year as that of the parent charity are to be taken.</p>
</content>
</paragraph>
</hcontainer>
</chapter>
</part>
</body>
</act>
</akomaNtoso>