Thank you for your patience
At present you have a difference of £769 between total net assets (AC68) and Total shareholders’ funds (AC80).
Profit and loss account (AC74) should equal retained profit (AC187) where as you are showing profit for the year (AC40) as retained profit at end of year Two. This normally happens in year One unless there is no activity in the subsequent year.
Secondly, you have made a provision for corporation tax of £456 on current year profits AC34. This would not have been paid by the year end and it should therefore be included in creditors AC58.
Thirdly, you are showing a reduction in stock at year end year on year (764-311) = £453 yet you have not shown any cost of sales in the year (AC14). A reduction in stock is a charge to profit and loss account.
Bearing my aforementioned notes, I have adjusted creditors and the revised figure in Box AC58 reads 769. I have also changed the figure in Box AC74 to read £1,053
This makes your balance sheet agree and no error message. Here is my version
PROFIT AND LOSS
cost of sales
other operating income
operating profit or (loss)
profit or (loss) on ordinary activities before taxation
tax on profit or loss on ordinary activities
profit or (loss) for the financial year
dividends for the period
net balance for the financial period transferred to reserves
TOTAL FIXED ASSETS
cash at bank and in hand
TOTAL CURRENT ASSETS
creditors due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
creditors due after more than one year
provision for liabilities
TOTAL NET ASSETS
CAPITAL AND RESERVES
called up share capital
profit and loss account
TOTAL SHAREHOLDERS FUNDS
STATUTORY ACCOUNTS NOTES
profit and loss - opening balance
profit for the period
equity dividends paid
I hope this is helpful and answers your question.
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Thank you so much for your advice. I have now successfully submitted my Returns.