Client historically had a large long standing liability in its Accounts to a third party. Over 7 years old. The Directors no longer deem this debt is repayable and want to remove it from the Accounts and credit the write off to other income. They are a micro entity reporting under FRS105.
Do they need to disclose this write off in the published accounts? I can't see anything related to FRS105 that says that exceptional items need to be disclosed or explained