UK FRS 102 and interest free loans to Football League clubs

C

Chris Dixon

Joined
Dec 1, 2016
Messages
1
Reaction score
0
Country
United Kingdom
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.
 
F

Fidget

VIP Member
Joined
Jan 6, 2013
Messages
754
Reaction score
139
Country
United Kingdom
Don't be silly. A loan is not a gift. End of.
 
You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

UK FRS 102- Covid add-backs 7
USA Revenue Recognition while meeting ASC 606/IFRS 15 in a SaaS model. 1
How to implement ifrs15 in this case 1
UK Charity SORP (FRS 102) - Use by non-charities 0
IFRS 15 (?) - cost of free gift 5
UK Impairment under FRS 102- effect on value of fixed tangible assets? 13
UK FRS 102 RPTs- Sale and leaseback of Football Grounds 1
UK How to account for solar panel lease based on use, under FRS102? 2

Top