sl125
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Post by sl125 on Dec 8, 2014 15:56:14 GMT
I'd be interested in the views of other people that use FC to invest their Ltd company funds.
On the balance sheet, do you report under Cash and Cash Equivalents? or under Other Debtors (ie. non-trade debtors)?
I'm assuming that, for CT600 purposes, interest, premiums paid/received, etc, are all rolled into Interest and related transactions on the P&L?
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Post by accumul8 on Dec 11, 2014 15:10:12 GMT
FWIW I would say 'Other Debtors'. An investment with FC is effectively a loan or loans to another company and not a bank. It does not have the certainty or liquidity of a deposit with a bank or other deposit taking institution and therefore could not be construed as a cash equivalent. You may also need to disclose in the notes any portion that is receivable more than 1 year from the balance sheet date.
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sl125
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Post by sl125 on Dec 11, 2014 16:17:17 GMT
Yes, that makes sense. I was erring on the side of Other Debtors using the same reasoning.
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