FRS 102 and interest free loans to Football League clubs

UK Discussion in 'Technical Queries' started by Chris Dixon, Dec 1, 2016.

  1. Chris Dixon

    Chris Dixon

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    Hello, I am not an accountant. Please could someone give a simple summary of the FRS 102 rules regarding interest free loans to Football League clubs.

    I have heard a rumour that if the club is never charged interest the loan is treated as a gift in both accountancy and legal terms. Thus no repayment can be claimed.
     
    Chris Dixon, Dec 1, 2016
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  2. Chris Dixon

    Fidget VIP Member

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    Don't be silly. A loan is not a gift. End of.
     
    Fidget, Dec 1, 2016
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