Good quality financial information helps to ensure that the interests of customers and funders are properly protected.
Our regulatory accounting guidelines set out the information that Network Rail Infrastructure Limited must provide to ORR through annual regulatory financial statements in control period 7 (CP7), the five-year period from April 2024 to March 2029.
Network Rail’s regulatory financial statements are the primary sources of information about Network Rail’s financial performance that we consider are required for us to fulfil our statutory duties and functions and to inform stakeholders about these matters. They facilitate:
- monitoring of income and expenditure, including efficiency and wider financial performance against the assumptions underlying our periodic review
- future periodic reviews and other regulatory decisions
- assessment of financial position including the regulatory asset base and debt
- monitoring of capital investment
This information is more relevant for regulatory purposes than the information contained in statutory financial statements. This is because the statements are set out in a format consistent with our relevant policies and regulatory framework.
By contrast, statutory financial statements are prepared following the requirements of the Companies Act and relevant statutory financial reporting standards.
We have looked to make sure that the information that we need is proportionate to fulfil our duties without placing an undue burden on Network Rail.
We have taken account of good practice from other economically regulated sectors.
CP7 Regulatory accounting guidelines
These are the regulatory accounting guidelines for CP7. A key objective is to establish regulatory financial statements that are consistent with the regulatory framework established by our 2023 periodic review (PR23) determination. Network Rail's CP7 regulatory financial statements will be prepared in accordance with these guidelines, which may be amended from time to time.
CP7 Regulatory accounting guidelines
Published 7 May 2024
CP7 template regulatory financial statements
Published 7 May 2024
Previous regulatory accounting guidelines
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- CP6 Regulatory accounting guidelines 2019-20
- CP6 template regulatory financial statements
- CP5 Regulatory accounting guidelines 2015-16
- CP5 Regulatory accounting guidelines - April 2014
- Regulatory accounting guidelines for Network Rail Infrastructure Limited published March 2014
- Template regulatory financial statements 2013-14
- Regulatory accounting guidelines for Network Rail Infrastructure Limited - March 2013
- Template regulatory financial statements 2012-13
- Regulatory Accounting Guidelines for Network Rail Infrastructure Limited - February 2012
- Template regulatory financial statements 2011-12
- Regulatory Accounting Guidelines for Network Rail Infrastructure Limited - January 2011
- Template regulatory financial statements 2010-11
- Regulatory Accounting Guidelines 2010
- Template regulatory financial statements 2010
- Regulatory Accounting Guidelines 2009
- Regulatory Accounting Guidelines 2008
- Regulatory Accounting Guidelines 2007
- Regulatory accounting guidelines 2006
Further information
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- Review of 2015/16 Regulatory Financial Statements
- How financial performance and efficiency is reported
- Network Rail regulatory accounts data assurance - Final report by Ove Arup
September 2011 - Regulatory accounting guidelines - covering letter to Network Rail
- Letter to Network Rail Group Company Secretary regarding regulatory accounting guidelines
- Regulatory accounting guidelines: disclosure statements
- Periodic review 2008 (PR08) - Licence review - consultation on financial conditions