The Financial Reporting Council has today issued FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. This standard will apply to non-small, unlisted UK companies and charities and is effective for accounting periods beginning on or after 1 January 2015.

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Companies House have announced that they will not proceed with legislation to mandate electronic services by March 2013 as they had previously intended. They say this is “because of the government’s absolute determination not to add new regulations that affect small businesses”. That moratorium ends in 2014 so companies can continue to file accounts in the traditional way until at least then.

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Our winter accounting and tax seminar took place last week and saw around 35 attendees at the haysmacintyre offices. A range of sectors were represented including property, energy, financial, media and communications, hospitality, technology and also clubs.

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Just a reminder that from 1 April 2011, HMRC will require most* company financial statements submitted with corporation tax returns to be filed in the iXBRL format. This electronic format tags the data in the financial statements – an “average” set will have between 300 and 400 tags.

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I thought I’d provide a little more detail on the corporate finance presentation that I delivered at the MSI annual conference held in London.

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From our own anecdotal evidence we have seen a significant rise in M&A activity over the past few months so I thought I’d do some research to see whether the UK and global figures supported our own experience.

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…so says Milo Yiannopoulos from the Daily Telegraph.

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As Sponsors for the Young Guns Awards we headed down to the offices of Growing Business magazine last week to do the short listing for this year’s awards.

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The haysmacintyre softball team took on the amateurs from Payne Hicks Beach on Monday night. After narrowly beating them at tennis last month we thought we’d teach them how to play softball this time…

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We only have just over eight months before HMRC require all company accounts and corporate tax returns be filed as iXBRL documents. That’s eight months to decide what is best for our clients.

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There are numerous situations where agreeing the value of a company becomes critical – when there is a change in ownership through a sale or merger, when new investors are considering their involvement, when new directors or staff take share options and or even when there is some form of dispute.

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The haysmacintyre team were made up of the talented and young David Griffiths and Matthew Burns with myself and Duncan McGowan making up the numbers. We were all sporting our new haysmacintyre branded polo shirts…in my favourite colour of purple. These shirts are only awarded to those that represent the firm and will be become prized possessions – think The Masters’ green jackets….

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