Loan FROM Director

November11

Please could someone tell me if a loan owing from a director at year end requires a note in the financial accounts?

deanshepherd

Your post doesn't quite make sense.

The title says 'Loan FROM director' i.e. monies owed TO the director, but your question states 'owing FROM a director' i.e. monies owed TO the company.

Scenario 1 - No, Scenario 2 - Yes.

November11

Oh Goodness!
I'm so sorry for the confusing post...I meant to say loan owing TO a director at year end!
(No more late night posting for me!)
Thank you for your response :-)

Bluewednesday

I would say that a directors loan credit balance needs disclosing in the full accounts under transactions with directors but not in the abbreviated accounts but a debit balance would need disclosing in both

Perhaps Steve can correct me on this one?