Member Since: 22nd Mar 2004
29th Jun 2015
Transactions with sole Director's father
This is an unusual related party transaction.
The sole shareholding director paid about 30% of fees earned on an engineering design project to his father, who did the work on the design work on that project. The payment to father amounted to about £20,000, so it is a material amount.
Is this required to be disclosed in the Notes under FRSSE ?