I have a client whom during the financial year has become the parent company of a very small group.
The parent company is eligible to use FRS105 as in previous years and as the group is 'small' and does not need to prepare consolidated accounts, can continue to do so.
Looking at the FRS105 regulations there seems to be no requirement to add a note to disclose the subsidiary and I am wondering whether to add a voluntary note?
Likewise, even under FRS102 there is no requirement to disclose transactions with a wholly owned subsidiary, but I am in two minds whether to also add a voluntary note for these and would be grateful for any thoughts on this.
Thank you for reading and in anticipation of any guidance.