Jarvis Securities changes accounting reference date to June 30

Published 27/06/2025, 07:28
Jarvis Securities changes accounting reference date to June 30

LONDON - Jarvis Securities plc (LSE:JIM) announced Friday it is changing its financial year end from December 31 to June 30, according to a company press release.

The financial services firm will issue unaudited second interim results for the six months ending December 31, 2024, before the end of June 2025. Audited results for the extended 18-month period ending June 30, 2025, will be published before the end of September 2025.

The company cited its pending transaction with Interactive Investor Services Limited as the primary reason for the accounting change. The conditional sale of Jarvis’s retail execution-only brokerage business, initially announced on April 15, is expected to close in early July 2025.

Jarvis acknowledged that certain conditions for the transaction remain unsatisfied, giving Interactive Investor the right to withdraw. However, the buyer has indicated its intention to proceed, and both parties continue working toward completion.

The company noted that the accounting for this sale will significantly impact both its going concern assessment and the carrying value of assets on its balance sheet. Jarvis stated that accurately determining these impacts is not possible until the transaction completes, prompting the accounting reference date change based on auditor advice.

The company also warned that if Interactive Investor chooses to withdraw from the transaction, it "would have a detrimental financial impact on the Group."

The announcement was approved by Kieran Price, Finance Director of Jarvis Securities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.