UK standard relating to foreign income

Hi there im wondering if someone can help.

I have been given an assignment from work to do some background research and will be preparing accounts for a client.

The client is a small UK Ltd compny which is a corporate partner in a US business (partnership). The UK company receives profits from the US business on a varied basis....The UK company also has 15% shares, 25% shares and 53% shares in different US companies and receives/will be receiving dividends from the US companies.

How is this income accounted for in the Ltd company’s accounts in the UK?

In particular under what FRS standard?

Would the income/dividends be classed as turnover or other income?

Are there any links/articles anyone knows of?

Note – the UK company does not receive any other income in the UK or anywhere else, and has virtually no expenses.  Essentially, it was set up just to receive income from US businesses.

Many thanks

Rebecca