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small abbreviated a/cs - disclose subsidiary's profits?

small abbreviated a/cs - disclose subsidiary's...

I'm struggling with the correct disclosure for details of a subsidiary. The group is not required to prepare group accounts. Both parent and sub qualify as small companies.

In the abbreviated a/cs of the sub, no P&L is required. Yet CA2006 and FRSSE 2008 para 15.18(B) requires the sub's profit after tax for the year to be disclosed in the notes of the abbreviated a/cs for the parent. Is this correct or am I reading it wrong?


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05th Oct 2012 20:25

Dear Red

You need to disclose the after tax profits and the net assets at the last period end. The exemption to not file group accounts is with regard to consolidated financial statements.

Hope this helps.










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05th Oct 2012 22:08

Profits do need to be disclosed along with net assets.

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to kevinringer
08th Oct 2012 11:46


Thanks for the replies. Yes, that's also how I read the disclosure requirement for the sub's abbreviated a/cs. It just seemed illogical but I guess that should be no surprise.

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