John, if he's not going to provide a TB, he's hardly likely to provide lead schedules.
Hmmm... being very diplomatic, it was a FU... he was expecting it back, & he didn't get it... & so he doesn't want anybody to know about it... & yes, I believe him.
Unfortunately FRS 102 takes precedent.
There is only one shareholder
Bernard, I appreciate your comments... can I refer you to my response to Mike Bath, above.
John, I appreciate your comments... can I refer you to my response to Mike Bath, below.
Mike, at least your comments brought a smile to my face... as its almost word for word what I'd told my client.
Unfortunately, that was why, as a last resort, I posted my question. Sometimes clients either don't listen or don't want to understand the laws and regulations they are bound by & see it as us being pedantic.
Basil, the company lent the money & it was paid directly from them to the brother 12 months ago... it was supposed to have been repaid almost immediately, but wasn't.
The company has now obtained a charged against the brother's house to secure the loan.
John & Adam...
We are both... it happens. We audit accounts provided by the client... in some instances, we advise accordingly... this is one of those instances.
No, FRS 102
I'll refer you to previous response... apologies, bit slow in replying.
BACS directly to the brother...
Yes, but nothing formal drawn up as it was supposed to be repaid almost immediately... problem was, it wasn't & now doesn't look as though it will be in the near future.
Interest is being charged on the outstanding balance at 3% pa.
I'm not particularly bothered about the numbers, more the disclosure, or hopefully, lack of it...