Accounting for Future Fund convertible loan

Anyone with a Future Fund convertible loan who has published their accounts?

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I'm looking for some examples of companies who have taken a Future Fund convertible loan this year and have published their audited (or interim) accounts. Ideally under IFRS.

I'm looking to borrow / gain some inspiration for the disclosures both in the accounts as well as Directors Report.

I understand the terms of the Future Funds loans are the always the same (obviously with different £amounts) - therefore after some audit-ready disclosures to save time at year-end.

Thanks!

 

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By AnonymousSouthWest
14th Dec 2020 10:28

Hi

Sorry I can't help with Future Fund convertible loan financial reporting disclosures as I am still trying to work out the accounting treatment on initial recognition in the management accounts - do we have to recognise convertible options within equity (residual approach)? Do you have any suggestions on where I can find help with this please?

Many thanks

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Replying to AnonymousSouthWest:
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By joneschrisuk
14th Dec 2020 12:06

I believe it needs to be accounted for as an embedded derivative:

https://www.pwc.co.uk/covid-19/accounting-for-government-assistance-in-r...

I've not the workings for that yet either. Was hoping to see a few real life audited examples to inform the approach to take.

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