Bright Accounts Production comprises of the following compliance changes in October, 2022.
United Kingdom Company 1.3 Template Amendment
A change has been implemented to Bright Accounts Production in the Directors' Report section of the Company 1.3 template. This change is applicable only for the UK entities.
Directors' Report
Bright Accounts Production now provides you with an optional Compliance Database code to show the section reference for Auditor reappointment as 487 instead of 485 of the Companies Act 2006 in the Directors' Report section of the produced accounts. To show the section reference for Auditor reappointment as 487 instead of 485 of the Companies Act, select the Show the section reference for Auditor reappointment as 487 instead of 485 of the Companies Act 2006? option under Directors Report > Report Information.
The Auditors section under Directors' Report in the produced accounts will show the section reference for Auditor reappointment as 487 of the Companies Act 2006.
Republic of Ireland Company 1.3 Template Amendment
A change has been implemented to Bright Accounts Production in the Director's transactions note of the Company 1.3 template. This change is applicable only for the Republic of Ireland entities.
Director's Transactions Note
Bright Accounts Production now provides you with an optional Compliance Database code to hide the Directors' transactions note of the produced accounts if the loan balance amount of the Director or the Directors is less than or equal to € 7,500. To hide the Director's transactions note, select the Remove Director's transactions note from accounts? option under Disclosure.
The Director's transactions note under Notes to the Financial Statements will remain hidden in the produced accounts.
In addition to this, if the Director's or Directors' maximum loan balance is higher than € 7,500, the loan amount movement of the same will be visible in produced accounts. You can view the maximum loan balance amount of the Director or Directors in the Compliance Database under Client Details > Officer Details.
For the above scenario, the loan amount movement will be visible in produced accounts in the Director's transactions note under Notes to the Financial Statements.