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IFRS 15 – Revenue from Contracts with Customers, which specifies how a supplier should record all the revenues from the contracts it enters into with its customers, came into effect for the accounting period beginning on or after 1 January 2018. It applies to the majority of contracts with customers where a business has ongoing performance obligations that a customer pays for.
This reporting standard may have significant balance sheet and P&L implications for businesses since it could significantly delay their ability to recognise and deploy revenue in some cases. One way for them to mitigate this, and improve their working capital position, is by taking advantage of a contract receivables financing solution.
Your eligible deposits with Barclays Bank PLC are protected up to the FSCS compensation limit by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Corporate Banking, Barclays Investment Bank, Barclays Private Banking and Barclaycard. Any total deposits you hold above the limit between these brands are unlikely to be covered. For further information visit www.fscs.org.uk^ (opens in a new window).
Barclays Bank PLC is registered in England (Company No. 1026167) with its registered office at 1 Churchill Place, London E14 5HP. Barclays Bank PLC is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority (Financial Services Register No. 122702) and the Prudential Regulation Authority. Barclays is a trading name and trade mark of Barclays PLC and its subsidiaries.
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