Hi All,
Have hunted around FRS 102, and, despite s.4.12(ii) regarding disclosure, I am still uncertain regarding entries for, for example:
* £1,000 Share Capital - not called up. (Obv. not paid if un-called, so should this simply be a note item, with no SFP entry?)
* £1,000 Share Capital - called-up but unpaid. (No related cash received by the Company, so CR Equity/Share Cap, DR ...??)
In the case of the latter, many people post the DR to DLA. However, my query with that treatment (in the case of a Director-Owner) is that the Equity transaction relates to the Director-Owner *in their capacity as a Shareholder*, not as a Director. So, DR to the DLA seems incorrect. Perhaps to Other Debtors, then, with a note to enhance the quality of the information conveyed by the Fin. Stmts...?
Lastly, how (if at all) does this change under FRS 105. I expect the restrictiveness of the Standard means that no extra notes can be entered.
FYI - I use Taxfiler. Great bit of software, but I've just realised that it only caters for fully paid shares - at the moment. Thier support team will be bringing this up with developers asap.
Many thanks in advance...
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TaxCalc has a debtor code for ‘Share Capital not paid’, but I only use it for non-directors.
Directors share capital to the DLA