Where to show subcontractors on FRS105 accounts ?

Where to show subcontractors on FRS105 accounts ?

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I'm just doing a builder's FRS105 accounts and my software is putting subcontractors in with 'other charges', whereas I would have thought raw materials or even staff costs would make more sense. Is my software right or should I put it somewhere else maybe ? What are other people doing ?

Replies (11)

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By mrme89
09th Aug 2017 12:16

Subcontractors are neither raw materials or staff.

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By andy.partridge
09th Aug 2017 12:49

Your software is correct.

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By kenny achampong
09th Aug 2017 13:03

Thanks. So no cost of sales, gross profit, administration costs...all figures that a lot of small businesses find useful. How daft.

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Replying to kenny achampong:
RLI
By lionofludesch
09th Aug 2017 14:18

Absolutely.

I don't know who these academics are but I could've done a better job and, more than likely, would have been satisfied with less pay.

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By mrme89
09th Aug 2017 14:35

A lot of clients wouldn't give a toss about the breakdown.

For those that do, how long would it take to provide them with one, along with comparatives? Not very long, I'd say.

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Replying to mrme89:
RLI
By lionofludesch
09th Aug 2017 14:38

Nevertheless, many of us take pride in our work.

We shouldn't have to produce meaningless carp to satisfy some academic.

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Replying to mrme89:
By kenny achampong
09th Aug 2017 14:56

I'm just sending the trial balance nowadays, so the client see all the expenses if they are interested, but that doesnt change the fact that the accounts are now more useless than they were before the changes.

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By Matrix
09th Aug 2017 16:31

I break everything down into a detailed P&L, the P&L for FRS105 accounts is meaningless.

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Replying to Matrix:
RLI
By lionofludesch
09th Aug 2017 16:43

Matrix wrote:

I break everything down into a detailed P&L, the P&L for FRS105 accounts is meaningless.

It's not as meaningful as that.

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By ireallyshouldknowthisbut
09th Aug 2017 18:22

Its pants, I keep finding an awful lot of costs magically ending up at the "wrong" place to give some commercial sense to the P&L.

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By thomas34
10th Aug 2017 07:31

Agree with everyone - it's an embarrassment producing this stuff.

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By thomas34
10th Aug 2017 07:31

Agree with everyone - it's an embarrassment producing this stuff.

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