Anonymous
Share this content
0
277

Lease 'held over' and FRS 105 notes

Lease 'held over' and FRS 105 notes

Didn't find your answer?

Search AccountingWEB

Hello,

I am preparing FRS105 accounts for a company and the premises lease (originally from 2006) was held over in 2016.

What is the position regarding commitments in the accounts? 

Rent is paid quarterly so is it just 4 quarters rent?

 

 

Replies

Please login or register to join the discussion.

avatar
19th Mar 2019 13:49

Not sure what your question is however note there is very little (almost nil) disclosure in FRS105 accounts.

Thanks (0)
By DJKL
19th Mar 2019 15:22

Its lease obligations is its financial obligation to the next date when the lease may be terminated in terms of the holding over of the lease (what I would call tacit up here in Scotland (one year in our case), so if lease term was say 28 September and year end is 31 December and annual lease is £10,000 p.a. then 271/365 x £10,000)

No idea if lease obligations are needed to be disclosed under FRS105 as I generally do not do FRS105 accounts

Thanks (0)
avatar
to DJKL
20th Mar 2019 07:47

Quote:

No idea if lease obligations are needed to be disclosed under FRS105 as I generally do not do FRS105 accounts

There aren’t. Virtually nothing is. Balance Sheet, Overdrawn DLA, No of e’ees is about it!

Don’t know if it’s still the case, but a few years ago if you filed using CoHo’s online template there wasn’t even the option to enter no if e’ees, despite it being a requirement!

Thanks (0)
Share this content