Loan FROM Director
November11
Registered Posts: 19 New contributor 🐸
Please could someone tell me if a loan owing from a director at year end requires a note in the financial accounts?
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Comments
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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.0 -
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 :-)0 -
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?0
