Share buy back in treasury
SimpleAccounts
Registered, MAAT, AAT Licensed Accountant Posts: 1
Hi All
So i have a company client with Alphabet Shares. The shareholder holding all the Ordinary A shares died and the company bought these back for £130,000 consideration holding the shares in treasury. The same period the company received a payout of the £130,000 from the insurance company. Please note the company paid stamp duty on the £130k.
I have never dealt with buy back shares held in treasury before so need some advice.
How do I account for the transactions above under FRS102 1A and also any disclosure required.
So i have a company client with Alphabet Shares. The shareholder holding all the Ordinary A shares died and the company bought these back for £130,000 consideration holding the shares in treasury. The same period the company received a payout of the £130,000 from the insurance company. Please note the company paid stamp duty on the £130k.
I have never dealt with buy back shares held in treasury before so need some advice.
How do I account for the transactions above under FRS102 1A and also any disclosure required.
0