Parent company owns 100% of its subsidiary company.
Parent company is a holding company (doesn’t trade) and subsidiary trades.
When filing the abbreviated accounts of the Parent, is it mandatory to include in the FIXED ASSET INVESTMENTS note, the profits and capital/reserves of the subsidiary? Can I remove this info before filing online?
Related resources
Replies (2)
Please login or register to join the discussion.
Must disclose
As you haven't given all the relevant facts, I shall assume that this group qualifies as small, that the holding company is not an intermediate parent company in a larger group and that it is has chosen not to prepare consolidated group accounts.
In case you do not know, the disclosure requirements are set out in SCG(ADR) Regs. 2008, Sch.2, Part 1, Para.3(1). These require that the capital & reserves of the subsidiary at the end of the year and its profit/loss for the year must be disclosed.
There is no exemption in the Regulations or in the Companies Act from this disclosure in abbreviated accounts and No, you certainly cannot avoid the disclosure just because you are filing online.
very helpful thanks
As you haven't given all the relevant facts, I shall assume that this group qualifies as small, that the holding company is not an intermediate parent company in a larger group and that it is has chosen not to prepare consolidated group accounts.
In case you do not know, the disclosure requirements are set out in SCG(ADR) Regs. 2008, Sch.2, Part 1, Para.3(1). These require that the capital & reserves of the subsidiary at the end of the year and its profit/loss for the year must be disclosed.
There is no exemption in the Regulations or in the Companies Act from this disclosure in abbreviated accounts and No, you certainly cannot avoid the disclosure just because you are filing online.
very helpful
thanks