Best Practice IFA Group (Best Practice), the adviser network owned by Benchmark Capital (Benchmark), widened its operating loss last year as it posted a double-digit rise in revenue.
Previous accounting errors further led the business to restate accounts for prior years, taking a profit hit. It was stated in the 2024 results filing: "During the year the company identified an error in the application of IFRS 15 Revenue from Contracts with Customers in the financial statements for the years ended 31 December 2018 to the year ended 31 December 2023, impacting opening reserves and trade and other payables as at 31 December 2022, and revenues, cost of sales, corporation tax charge, trade and other payables and corporation tax payable as at 31 December 2023. "This error...
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