Is work done for director's in-laws a related party transaction.
Small building firm undertook work for director's parents-in-law. Job appears to have been priced at commercial rates and accounts for around 6% of company's annual turnover. Is this required to be disclosed as a related party transaction and, if so, are in-laws required to be named or can they be referred to as 'members of the director's close family' ? (accounts prepared under FRSSE 2008)