An individual - Fred - owns company A Ltd. Fred swaps his shares in A Ltd for shares in B Ltd. B Ltd in turn becomes the owner of the shares in A ltd. No other consideration was involved.
I'm struggling to work out the accounting in B Ltd's balance sheet for the shareholding in A Ltd. Do I bring in the shares at NV or at MV, presumably with the other side of the entry to Fred? Or no double entry but just a note?
Having a bit of a brain freeze.
The companies are small.