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Sam
Sam, Accountant
Category: Tax
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Sam I hope you can help me. I am completing my Companies

Customer Question

Hi Sam
I hope you can help me.
I am completing my Companies House Annual Account and I am stuck on AC218. AC216 is -1855 AC217 is 0 but I am not what to enter for AC215 (previous loss was -7288 but when I enter that the AC218 box highlights in red and I am not sure what value to enter).
RegardsJim
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site. Thank you for your question.

I am another UK Tax Expert here and I have helped many customers with CT600 returns.
I am here to help you. Please complete boxes as applicable and I will review your accounts for you and we will clear the error message.

PROFIT AND LOSS Box No. this year Box No. last year
profit or (loss) on ordinary activities before taxation AC32 0 AC33 0
tax on profit or loss on ordinary activities AC34 0 AC35 0
profit or (loss) for the financial year AC36 0 AC37 0
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred to reserves AC40 0 AC41 0
BALANCE SHEET Box No. this year Box No. last year
intangible assets AC42 0 AC43 0
tangible assets AC44 0 AC45 0
TOTAL FIXED ASSETS AC48 0 AC49 0
stocks AC50 0 AC51 0
debtors AC52 0 AC53 0
cash at bank and in hand AC54 0 AC55 0
TOTAL CURRENT ASSETS AC56 0 AC57 0
creditors due within one year AC58 0 AC59 0
NET CURRENT ASSETS AC60 0 AC61 0
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 0 AC63 0
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 0 AC69 0
CAPITAL AND RESERVES Box No. this year Box No. last year
called up share capital AC70 0 AC71 0
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 0 AC75 0
TOTAL SHAREHOLDERS FUNDS AC80 0 AC81 0
STATUTORY ACCOUNTS NOTES Box No. This year Box No. Last year
profit and loss - opening balance ac184 0 ac215 0
profit for the period ac185 0 ac216 0
equity dividends paid ac186 0 ac217 0
retained profit ac187 0 ac218 0


Many thanks
Customer: replied 1 year ago.

I modified boxes 74/75/80/81 to see if it would help the calculation for ac218. Not sure what value to put back in

ac32 286 ac33 -1855

ac34 0 ac35 0

ac36 286 ac37 -1855

ac38 0 ac39 0

ac40 286 ac41 -1855

ac42 0 ac43 0

ac48 2465 ac49 2355

ac50 836 ac51 788

ac52 5258 ac53 4830

ac54 0 ac55 0

ac56 6094 ac57 5618

ac58 0 ac59 0

ac60 6094 ac61 5618

ac62 8559 ac63 7973

ac64 8559 ac65 7973

ac66 0 ac67 0

ac68 0 ac69 0

ac70 1 ac71 1

ac76 0 ac77 0

ac74 -1 ac75 -1

ac80 0 ac81 0

ac184 ac215 0

ac185 286 ac216 -1855

ac186 0 ac217 0

ac187 -1569 ac218 -1855

Expert:  taxadvisor.uk replied 1 year ago.

Jim, thank you for your reply and additional information...
There are a few anomalies in your figures.

In order for the balance sheet to agree and balance:
- Total net assets (AC68/AC69) should equal Shareholders' funds (AC80/AC81). this is not the case with your figures.
- Profit and loss account (AC74/AC75) are cumulative figures and include retained profit from previous years (AC40 for each year).

I am surprised you are not showing any creditors in boxes AC58/AC59.

In your initial posting you stated" I am completing my Companies House Annual Account and I am stuck on AC218. AC216 is -1855 AC217 is 0 but I am not what to enter for AC215 (previous loss was -7288 but when I enter that the AC218 box highlights in red and I am not sure what value to enter)."

If one was to reflect -7,288 has losses brought forward before last year and add the loss made last year of 1,855 you have a total loss of £9,143 at the end of last year. This makes the company technically insolvent but you are showing total net assets of £7,973 in box AC69.

I would like you to review the accounts that were filed last year.. do you have a copy of your CT600 return for last year.

Here are your figures as provided and the difference we are trying to clear.
PROFIT AND LOSS Box No. this year Box No. last year
profit or (loss) on ordinary activities before taxation AC32 286 AC33 -1,855
tax on profit or loss on ordinary activities AC34 0 AC35 0
profit or (loss) for the financial year AC36 286 AC37 -1,855
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred to reserves AC40 286 AC41 -1,855
BALANCE SHEET Box No. this year Box No. last year
intangible assets AC42 0 AC43 0
tangible assets AC44 2,465 AC45 2,355
TOTAL FIXED ASSETS AC48 2,465 AC49 2,355
stocks AC50 0 AC51 0
debtors AC52 0 AC53 0
cash at bank and in hand AC54 6,094 AC55 5,618
TOTAL CURRENT ASSETS AC56 6,094 AC57 5,618
creditors due within one year AC58 0 AC59 0
NET CURRENT ASSETS AC60 6,094 AC61 5,618
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 8,559 AC63 7,973
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 8,559 AC69 7,973
CAPITAL AND RESERVES Box No. this year Box No. last year
called up share capital AC70 1 AC71 1
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 -8,857 AC75 -9,143
TOTAL SHAREHOLDERS FUNDS AC80 -8,856 AC81 -9,142
Difference xxxx 17,415 xxxx 17,115
STATUTORY ACCOUNTS NOTES Box No. This year Box No. Last year
profit and loss - opening balance ac184 -9,143 ac215 -7,288
profit for the period ac185 286 ac216 -1,855
equity dividends paid ac186 0 ac217 0
retained profit ac187 -8,857 ac218 -9,143

I await further news.

Many thanks

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