249 Consolidated financial statements
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Financial statements and accounting period

249  Consolidated financial statements

(1)     The consolidated financial statements of an entity are—

(a)     where the entity is not the ultimate parent of a consolidated group whose only members are that entity and its permanent establishments, the financial statements prepared by the entity in accordance with acceptable accounting standards in which the assets, liabilities, income, expenses and cash flows of that entity and the entities it has a controlling interest in are presented as those of a single economic unit,

(b)     where the entity is the ultimate parent of a consolidated

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