FRS105 notes - co ltd by guarantee

Do I still need a note?

Didn't find your answer?

Co ltd by guarantee (not a charity) moving from FRSSE to micro-entity: always used to include a note stating that the company is limited by guarantee and that in the event of winding up the liability of members is limited to £xx. Is this still necessary? Many thanks.

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By rca.aca.bz
28th Feb 2017 17:54

Did you ever find out the answer to this. I have a client with a dormant company limited by guarantee which I plan to file micro entity accounts with nil balances for. I'm also not sure whether the note is necessary. Thanks

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Replying to rca.aca.bz:
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By agburton
01st Mar 2017 10:54

No, I'm afraid I didn't get a definitive view on this. But as I couldn't see a specific requirement in FRS105 I decided to (a) put the words "The company is a private company limited by guarantee and incorporated in England. Its registered office is . . ." on the balance sheet and (b) rely on the CA presumption that accounts based on FRS105 are true and fair regardless, and leave it at that.

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RLI
By lionofludesch
01st Mar 2017 12:28

You don't need to say anything in FRS105 accounts.

There's very little that you do have to say.

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