FRS9 Joint venture with different year end date
Hi
I'm working with an incorporated charity (IC) who is a member of another company limited by guarentee(CLG) . The CLG has a total of 3 members all with one vote. so there is 33.33% control to each member.
the IC has a year end of 30th June. the CLG has a year end of 31st March.
How do I apply the equity method of FRS9 in the IC accounts? - Do I take the 12 months accounting period results of the CLG in the consolidation of the IC or the 12 months period of the IC (i.e 9 months of last years CLG & 3 months of this years CLG numbers)
Does FRS9 even apply when it's a CLG - as it only seems to refer to shareholding/investment as the mechanism of determining control? - which in this case is null as there are no shares.
Help!
thanks
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