CFM22040 - Accounting for corporate finance: Old UK GAAP excluding FRS 26: lenders: accrual accounting: balance sheet assets
You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.
The following guidance covers Old UK GAAP (applied before 2015) where FRS 26 was not applied.
Balance Sheet: Timing
The lender will first record the loan as an asset in its balance sheet when it meets the definition of an asset within FRS 5, i.e. when the lender establishes ‘rights or other access to future economic benefits as a result of past transactions or events.’
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;