The current annual inspection is good until the end of this month. The A&P has signed the Engine mx, (prop paint/balance, and new vacuum regulator) with appropriate log entry. Next week, we'll perform mx on the wings, and undercarriage. A&P will sign off said mx. The following week. we'll perform mx on the fuselage, and tailfeathers. At that time, the IA, (same guy as the A&P) will then sign off the annual inspection, as he will have inspected the entire aircraft by that time. Whether or not the airplane will be flown between stages remains to be seen. But the mx will be duly logged, and returned to service, as it is performed, and the inspection will be logged when all is completed.
Nowhere did I mention that the airplane will be flown, between stages. But it will still be legal to do so, as mx will be logged. And is still in annual.
Now, had the annual inspection run out, then all bets are off.
We've been doing it this way for several many years, and the FSDO has no problem with it.