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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4973
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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hello i had a company that ran for 20yrs or so and we always

Resolved Question:

hello
i had a company that ran for 20yrs or so and we always had audited accounts done by accountants. Last year the company was made dormant. so i plan on filing accounts for a dormant company by myself this year. As I have never done this before I just don't want to get it wrong, but can't afford accountants fees now :(
here are my questions... hope you can help?
. do i need to fill in abbreviated accounts - not "dormant company accounts" as these seem to be just for never-traded companies? or "micro-entity" as these say companies excluded from this are "Your company is claiming exemption as a dormant company under section 480 Companies Act 2006."
. will all the entries be 0, as we have not traded all year?
. do i just copy amounts from last year's accounts for the column for 2013?
. what is "called up share capital unpaid"?
hope you can help
thank you
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please let me have the figures from your 2013 accounts and I will guide you..
many thanks
taxadvisor.uk and 3 other Tax Specialists are ready to help you
Customer: replied 2 years ago.

hello



here are figures from 2013...


... plus what i have drafted so far for 2013/14 abbreviated accounts on the company's house website. i am not sure where i put my 2013 figures...?



hope you can help


thanks


janet



figures from year 2012-2013



Income - 23315



Expenditure



salaries - 21124


NI - 1361


insurance - 634


home use as office - 300


telephone - 613


stationery - 274


events - 1519


legal/proff fees - 3330


depreciation - 0


profit on sale of tangible assets - (151)


bank charges - 149



total - 29153



net loss (5838)



---



called up capital share - 2


Abbreviated Balance Sheet


date of balance sheet - 31 July 2014



2014 2013


Called up share capital not paid



Fixed assets


Intangible assets


Tangible assets


Investments



Total fixed assets



2014 2013


Current assets


Stocks


Debtors 2 2


Investments


Cash at bank and in hand



Total current assets 2 2



2014 2013


Prepayments and accrued income


Creditors: amounts falling due within one year


Net current assets (liabilities) 2 2


Total assets less current liabilities


Creditors: amounts falling due after more than one year


Provisions for liabilities


Accruals and deferred income


Total net assets (liabilities) 2 2



2014 2013


Capital and reserves


Called up share capital 2 2


Share premium account


Revaluation reserve


Other reserves


Profit and loss account



Shareholders' funds 2 2



Please confirm the statements below.



For the year ending 31 July 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.



The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006



The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.



These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.


Date of approval of accounts




Name of the approving director


Additional approving director (if any)



---------------



Accounting Policies


CompanyName Limited


Directors’ Report Period Ended 31st July 2014



The directors present their report with the financial statements of the company for the period


ended 31st July 2014.



Directors


The directors shown below have held office during the whole of the period from


01st August 2013 to 31st July 2014.


my name


+1



The company is dormant and has not traded during the period.


The company has acted as agent, for which it received no income during the period.


This report was approved by the board of directors on 13 October 2014


And Signed On Behalf Of The Board By:


my name


Director



-------



Profit and Loss Account


for the Period Ended 31st July 2013


The company is dormant and has not traded during the period.


The company received no income and incurred no expenditure in the period and therefore did not make either a profit or loss.


The notes form part of these financial statements



-------



Balance Sheet


for the Period Ended 31st July 2013


For the year ending 31 July 2013 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.


The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.


The directors acknowledge their responsibilities for complying with the requirements of the


Act with respect to accounting records and the preparation of accounts.


These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial


Reporting Standard for Smaller Entities (effective April 2009).


The financial statements were approved by the Board of Directors on 13 October 2014



SIGNED ON BEHALF OF THE BOARD BY:


my name


Director


The notes form part of these financial statements



-------



Company Name Limited


Notes to the Financial Statements


for the Period Ended 31st July 2014



Accounting Policies


Basis of accounting


The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2009)



The Company ceased to trade on 31 July 2013 and has remained in a dormant status. The financial statements for 2013-14 reflect that there are no assets or liabilities and that no further transactions have occurred.




--------

Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.
I will revert to you in the morning.
Expert:  taxadvisor.uk replied 2 years ago.

Janet, thank you for your reply and for the information.

This is how I would file the accounts of a dormant company using Compaies House web service for filing domant company accounts. I use this service for my domant company clients.Using online service to file the accounts.

There is no need to provide information on accounting policies.. Just present as I have shown below. Keep it simple and to the point.

I have shown £2 as cash in hand and not debtors .. I take it this figure is the opposite entry of issued share capital.

Dormant Accounts - 31 Jul 2014

Abbreviated Balance Sheet as at 31 Jul 2014

2014 2013

Current assets

Cash at bank and in hand 2 2

Net assets 2 2

Issued shared capital

2 Ordinary Shares of £1 each 2 2

Total Shareholder funds 2 2

STATEMENTS


- For the year ending 31 July 2014 the company was entitled to exemption under section 480 of the Companies Act 2006 relating to dormant companies.

- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 Oct 2014

And signed on their behalf by:
xxxxx, Director

I hope this helps.

Customer: replied 2 years ago.

hello

thanks for this... but where do i put my figures for 2012-2013? I just don't want to put things in the wrong columns...

hope you can help

Expert:  taxadvisor.uk replied 2 years ago.

Janet, thank you for your reply.

As far as filing accounts with Companies House goes, you are filing accounts for the period the company was dormant. Furthermore, when you file dormant accounts or abbreviated accounts for small companies, you only file a balance sheet and not a profit & loss account. Detailed accounts are filed when you submit your CT600 Corporation tax return to HMRC.

So, the only figures you would be putting for 2012-13 would be items in the balance sheet. I have already given you those figures
Cash at bank and in hand 2
Issued share capital 2

because that is what you had stated as your figures for 2012-13.

I hope this is helpful.

Customer: replied 2 years ago.

hello

oh, okay. it just seems a bit simple, just to put the shares on.

i thought they would require more information as the "sample dormant company accounts" that hmrc have are more complex and do include all last years figures... see

http://www.hmrc.gov.uk/CT/getting-started/intro/sample-dorm-accs.pdf

just don't want to do the wrong thing ;)

Janet

Expert:  taxadvisor.uk replied 2 years ago.
Janet, thank you for your reply.

The layout I sent you was an actual return I filed for my client and was accepted at Companies House.

I can assure you that my example is perfect and meets the requirements of Companies House for filing of dormant accounts.

I hope this is helpful.
Customer: replied 2 years ago.

okay, thank you for your help. it just felt a bit too easy - i expect anything to do with companies house / hmrc to be hard!

best wishes

janet

Expert:  taxadvisor.uk replied 2 years ago.
Just go to Companies House websit and opt for filing
Company accounts

Sign in to Companies Web filing

opt for dormant accounts, etc

Best wishes
Customer: replied 2 years ago.

thank you

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