Ex directors loan account disclosure

Ex directors loan account disclosure

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How should a credit DLA be shown when a director resigned 2 months after the year end but before the accounts were signed / published, does it reflect all known knowledge now and treat it as any other creditor or should it be reflected in the accounts as an amount to a director. Thanks

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By taxdigital
17th Jun 2024 12:49

If it's money owed to the director, my guess is that it's still a related party disclosure on the balance sheet date. Others learned members may be along with more accurate replies.

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By paul.benny
17th Jun 2024 14:27

FRS102 para 33.9 says
"If an entity has related party transactions, it shall disclose... information about the transactions, outstanding balances....necessary for an understanding of the potential effect of the relationship on the financial statements" (edited for brevity)

I read that as requiring disclosure in your scenario.

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