FRSSE Statutory Notes - Accounting Policies

FRSSE Statutory Notes - Accounting Policies

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Hi,

I have 2 very small companies that I need to complete the accounting policies in the statutory account notes.

1 company had no turnover and the other company had no fixed assets.

It is my understanding that I would not need to complete a turnover / fixed asset accounting policy note as policy notes only need to be completed if relevant to the company.

Could anybody please confirm this?

Thanks

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Euan's picture
By Euan MacLennan
09th Jul 2013 09:39

Correct

If there is no such item in the accounts, an accounting policy is entirely superfluous.  Indeed, you are only required to disclose accounting policies on material items.

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Replying to bajones:
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By davidmjones1
12th Jul 2013 12:51

Should I complete the operating profit or loss statutory account note if I have nothing to enter? I was thinking of leaving it out as I have no depreciation, bad debts etc to enter.

Then I was thinking perhaps I should keep the note as it shows I had no items to enter.

Thanks

 

 

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