FRS 105 Opertaing lease disclosure

Hi Fellow AAT members,

Im looking to reassure myself as i prepare a year end for a client.
Im dealing with 2 cars on contract hire, 48 months which were taken our during the year.

My thoughts are these are operating leases and the payments are already in the P&L but nothing on the Balance sheet.

However i think it needs to be disclosed as a note to the accounts that there is liability of £x due in the next 12 months and £x.xx for subsequent years.

This is correct isn't it?
Sign In or Register to comment.

Not registered?

Register to create your free account, talk to AAT members and start your own discussions.

Privacy Policy