A community interested group and client of mine first formed a company and then also became a charity. Last year they were gifted a building valued at £850K. Has anyone dealt with a similar sitaution? my issue is that filing is required to both companies house and charities commission and without a contra entry I am not sure of how to enter the new asset. I have thought of using the revalutation option i.e cost £1 and revaluation of £850K ??? can anyone help me with this?
Edited at 23 Sep 2020 12:20 PM GMT