ABBV Accounts

slackda
slackda Registered Posts: 460 Dedicated contributor 🦉
in General accounting discussion
Hi im just helping my dad submit his Abbv accounts to companies house:

on the part "Transactions with directors" he has paid him self a salary and my mum (as a director) has also taken salary, should this be disclosed here, they also have a loan between them and the company (the company owes them) does that need to be disclosed to?

Thanks guys :D

maritn

Comments

  • AdamR
    AdamR Registered Posts: 668 Epic contributor 🐘
    For abbreviated accounts, I don't think Directors' Emoluments need disclosing (they should be in the notes of the main accounts though) and unless the loan account is overdrawn (ie Directors owe Company), a note of the loan isn't required in the Abbreviated set. Depending on the size you may want to disclose it? As far as abbreviated accounts are concerned,I think only Secured Creditors tend to get an extra mention in the notes.

    (If someone else could confirm this I'd be a lot happier as I'm not 100%, especially about voluntarily disclosing the loan.:laugh:)

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