Transitional profits - actual vs time apportioned

My current year end is 31st December. In order to calculate transitional profits can I implement both approaches below? 1. Prepare extended accounts 1st January 2023 - 5th April 2024, find total profit for 15 months then time apportion 3/15ths (365/461). 2.Prepare accounts accounts 1st January 2023 - 31st December 2023 to find standard profit, then prepare accounts 1st January 2024 - 5th April 2024 to find transitional profit? Depending on the timing of when the profits arise, one could have advantages over the other.

Hi Gwion Ashton,
Please refer to guidance here:
Work out your transition profit
Thank you.