10(1)As soon as reasonably practicable after the end of each financial year, an MDC must—E+W
(a)prepare an annual report on how it has exercised its functions during the year,
(b)include in the report a copy of its audited statement of accounts for the year, and
(c)send a copy of the report to the Mayor and to the London Assembly.
(2)“Financial year”, in relation to an MDC, means a period of 12 months ending with 31 March.