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Capital Grant presentation in Club Accounts

Tennis Club receives £17K grant from LTA for digitally controlled gates

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I woud be grateful for advice on this query.

When a Capital Grant is recieved should the grant be netted off against the asset in the Balance Sheet or treated as revenue in the income and expenditure account and added to the accumulated reserves.

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By Bobbo
30th Nov 2021 13:43

The grant should absolutely not be set off against the asset.

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By CJaneH
30th Nov 2021 13:51

Thanks to Bobo. The reason I was asking was when I took on this client 8 years ago this is how a local and reputable firm had treated £107.000 of grants.

My instinct was an asset on the balance sheet should be at cost.

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paddle steamer
30th Nov 2021 14:06

What if any time conditions apply to the grant, is there say a performance condition and possibly a clawback condition in part or whole?

What type of legal entity is the Club?

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