Its my first return.
The balance sheet does not tally.
These are the figures I enter on the ct600. I have a profit and loss and balance sheet but not sure if my balance sheet figures are correct. I havent really does my business so there are very few figures or transactions.
Thank you for your reply and for additional information.
You say it is your first year of trading/first return. I need you to clarify a few points for me please...
You are showing a negative gross profit that would suggest you were selling items at a loss yet you have a large stock balance at the year end. This does not make sense.. please advise if have you properly adjusted your cost of sales for closing stock at the year end.
Being first year of reporting both boxes AC40 and AC74 should read the same figure.. you are showing in AC40 -5,399 and in AC74 15,440 .. where did this figure of 15,440 come from?
You are showing zero called up share capital. Please advise wht called up share capital have you reported on the company’s annual return filed at Companies House.
I await further news from you.
I purchased a lot of stock which was sold in the next period.
I have attached my profit and loss which might show this better.
I think my share capital should be £1.
Let me know
OK, thanks for your help.
Yes, the loan paid for the large stock purchase and rent etc... I have a figure of £12,936.82 after the payments in and out.
I basically don't really have a balance sheet and need to file my CT600. If this works I will also need my next few CT600's doing.
Andy, thank you for your reply.
I have gone through your numbers and made adjustment tocost of sales for stock held at year end. I have also added distribution costs to COS as I know there is no box for distribution cost when you move to computations section of CT600 return.
The monthly figures given are for 13 months and it would suggest your first set of accounts cover the period from date of incorporation to 30 Nov 2012.
Although there is cash inflow/outflow through out the period, I am not sure how it is properly reflected in the accounts. If we were to look at receipts and payments, we have
Receipts from sales = 18,073
Payments for purchases = 21,416
Payments for expenses = 1,600
VAT bills = 782
Total = 23,798
Deficit = 5,725
This deficit has been funded by the director through director’s loan and there was a cash balance at period end.
To make the accounts balance I have reduced the creditors figure (director’s account) to reflect aforementioned comments and my figures are as follows:
I hope this is helpful and answers your question.
Thanks for this.
It seems that I have to file the following accounting periods.
Would you want to quote to do it all.
Thank you for your reply.I have sent you a note.
Can you resend please, I didn't receive it.
I put all the figures in and it arrives at 8,525 in box AC187, but I get the error below. I have checked and all the figures and they are as you advised. The only extra figures I put in were the called up share capital, which i pout in AC280 1 and AC281 £1. Is this anything to do with the dates I am using?
X ERROR:The retained profit at 2012-11-30 must tally with the value in the balancesheet. Please check and amend your entries.
Andy, you should be inputting these figures and the accounts are for the period to 30 Nov 2012.
Please send me snap shots of the relevant pages from Balance sheet and profit and loss account
That has worked.
I am now in a section called Compulations. Can I just enter the details from my my original profit and loss figures in these sections?