Hello, I am Keith, one of the experts on Just Answer, and happy to help you with your question.
I can try! Firstly remember that the on line CT600 in two parts, a Balance Sheert (BS) and a Profit and Loss (P&L) Account although it does not appear as such on a first look. My initial advice is to take the company accounts you are trying to file and make sure that are both arithmetically correct and that those entries common to both the P&L and the BS correspond. I know from bitter experience that this may not be necessarliy true in your manual figures. Check your data with a calculator.
The on line return is simply infuriating to input as some fields can be left blank, some require a zero and some have to be fudged with say, a penny, to make them work at all. There appears to be no rhyme or reason behind the site's construction.
One good feature, however, is the option to automatically extract a set abbreviated accounts for filing at Companies House. I always use that option, saves a lot of palaver doing it separately.
I do hope that I have shed some light on your position. In the old paper days a return took five minutes to complete; now you are lucky to get away with under half an hour!
Description Box This year Box Last yearof account No. Amount No. AmountPROFIT AND LOSS PROFIT OR (LOSS) BEFORE TAX AC32 12,250 AC33 10,851TAX AC34 2,450 AC35 2,170PROFIT OR (LOSS) FOR THE YEAR AC36 9,800 AC37 8,681DIVIDENDS FOR THE PERIOD AC38 0 AC39 0TRANSFERRED TO RESERVES AC40 9,800 AC41 8,681BALANCE SHEET INTANGIBLE ASSETS AC42 0 AC43 0TANGIBLE ASSETS AC44 1,519 AC45 1,688TOTAL FIXED ASSETS AC48 1,519 AC49 1,688STOCKS AC50 0 AC51 0DEBTORS AC52 AC53 0CASH AT BANK AND IN HAND AC54 13,850 AC55 14,947TOTAL CURRENT ASSETS AC56 13,850 AC57 14,947CREDITORS DUE WITHIN ONE YEAR AC58 2,550 AC59 2,945NET CURRENT ASSETS AC60 11,300 AC61 12,002TOTAL ASSETS LESS CURRENT LIABILITIES AC62 12,819 AC63 13,690CREDITORS DUE AFTER MORE THAN ONE YEAR AC64 0 AC65 0PROVISION FOR LIABILITIES AC66 0 AC67 0TOTAL NET ASSETS AC68 12,819 AC69 13,690CAPITAL AND RESERVES CALLED UP SHARE CAPITAL AC70 2 AC71 2REVALUATION RESERVE AC76 0 AC77 0PROFIT AND LOSS ACCCOUNT AC74 9,800 AC75 8,681TOTAL SHAREHOLDERS FUNDS AC80 9,802 AC81 8,683
Getting error message:
X ERROR:The balance sheet does not tally. Shareholders funds must equal the total netassets (liabilities). Please check your figures and correct your entries as necessary.
With the above figures... Can you help please?
Sorry for the late response, my question was locked last night.
please let me know if you need more details
I look forward to hearing from you soon.
I hope this is helpful and answers your question.
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Thanks for you prompt response.
"Also, you state you made a profit of 9,800 after tax. Yet your total net assets on line AC68/AC69 show a reduction compared to last year. Did you take any money out of the business, e.g. dividends?"
Sorry i forgot to mention, i took money out of the business... But will be available later this this week. Should i add it to cash in hand?