I'm doing a set of FRS 102 accounts for a small company. Paragraph 1A requires the accounts to show a true and fair view. They had a bad debt of £50k during the year. Turnover was £1.3m, gross profit was £350k and profit before tax was £30k. Obviously it is material. I think it should go on the face of the P&L between gross profit and operating profit in order to show a true and fair view but my Taxfiler software doesn't seem to show a way of doing this.
Two questions. 1) Am I right about this? 2) If so, how the devil do I show it in Taxfiler?
I could ask a third. Is it really worth my while agonising about this?