Thank you for your question...
Please leave this with me and I will revert with some questions for explanation once I have studied your numbers closely.
Alec, thank you for your patience...
First of all .. to make the document agree these boxes should be equal
AC68=AC80 and AC69=AC81
As last year was your first year of trading
You must have filed your company's annual return with the Companies House. What have you stated as your issued share capital.
Normally, this would not change year on year unless you issue more shares etc.
The stated issued capital should be in boxes AC70 and AC71... if the answer is 1 then input 1 in both boxes.
Last year was year one of trading and you have reported a loss of £10,000. Did you pay for any items out of own funds ) director's account) and fully reflected them in the accounts. Were you owed any money by the company at year end for year 1 and year 2..
Assuming there were creditors and these have not been reflected fully and issued share capital was £1... your balance sheet for year one would look like
Total fixed assets
Cash at bank and in hand
Total current assets
Creditors: falling due within one year
Net current assets (liabilities)
Total assets less current liabilities
Creditors: amounts falling due after more than one year
Provision for liabilities
Total net assets (liabilities)
Called up share capital
Profit and loss account
Total shareholders funds
Retained profit - start date
Profit or (loss) for period
equity dividends paid
Retained profit - end date
I have reflected retained profit at year ONE in the figures for year TWO and I would like you to revisit these please...
You say you made a loss of £5,118 in year TWO and this makes your total profit & loss account balance at end year TWO as (10,000+5,118) £15,118.
If all other figures remain the same (including called up share capital in Box AC70 as 1 then there is a difference of 11,987 as shown below.
What liability is covered in Box AC66..you have input £1,000
Also, what are creditors in Box AC64 and AC65 ..some medium/long term loan?
I look forward to hearing from you.
Thank you. The liability covered is failure to turn up at a booked event. Creditors are my parents and are long term loans
Alec, thank you for your reply..
You have not addressed the issue of difference...
I have asked you to advise what has been reported as issued share capital in your annual return to Companies House.. I have assumed £1 for both years.
Did you file first year accounts? If so, how different are they to the figures I have input in Table "last year".
If you have made losses in both years and the losses are as stated (10,000 and 5,118), then your creditors are understated .. please revisit them as I am showing a difference of some £11,987.