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altering accounting period
Why would a Ltd Coy consistantly over the years, put back this date by ONE DAY. What benefit is there?
Comments
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364 days is exactly 52 weeks. Could be to do with that. Not something I've come across, though.
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Hi castle96,
You are seeing a classic piece of administrative logic! As sgthammer suggested, this is almost always done to keep the corporate year aligned with a 52-week operating cycle.
Because a standard year has 365 days, a company's year-end date will naturally drift to a different day of the week each year. By constantly adjusting the date by one day, the company ensures that their financial year always ends on the exact same day of the week (such as a specific Sunday).
This is incredibly useful for businesses that need their year-end to perfectly match their weekly payroll runs or their scheduled weekend stock-takes.
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It's often shenanigans to delay needing to publish annual accounts to Companies House.
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