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Directors loans to company - disclosures required?

Directors loans to company - disclosures required?

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I have a client who has loaned his company money. Loan b/fwd (credit balance) approx £20k, further loans in the year of approx £2k.

What disclosures are required?

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By johngroganjga
08th Jul 2016 14:17

Just the usual related party transactions disclosures in the full accounts (nothing required in the abbreviated account, if you are preparing them).

Presumably the same as last year?

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By TerryD
08th Jul 2016 16:05

Opening balance, summarised analysis of movements, closing balance - all with comparative figures.

Also details of any other transactions that haven't gone through the loan account (maybe dividends, interest paid, etc.)

Plus details of any unusual, not at arm's length, elements included in either of the above.

Maybe you should invest in an Accounts Disclosure Checklist (although it's easy enough to just read the FRSSE).

All this, of course, assumes you're using the FRSSE and not preparing micro accounts.

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