UK FRS 102 and interest free loans to Football League clubs


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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.
 
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Fidget

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Don't be silly. A loan is not a gift. End of.
 

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