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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4881
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I am getting an error with my CT600 form years

Resolved Question:

Hi,
I am getting an error with my CT600 form for this years accounts on AC218 field which is saying "The retained profit at 2014-02-28 must tally with the value in the balance
sheet. Please check and amend your entries."
I understand this is because my balance sheet for AC69 field is showing £0.00 but this is because I can't see where my loss of -£754 (AC41) fits on the balance sheet which is also causing issues for the AC81 field.
Let me know what extra information you require in order to resolve this.
Thanks,
Mark
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Hello and welcome to the site.
Mark, thank you for your question.
Please complete boxes as appropriate and I will review your figures. WE will clear the error message.
PROFIT ANDLOSS Box No. This year Box No. Last year
profit or (loss) on ordinary activities before taxation AC32 AC33
tax on profit or loss on ordinary activities AC34 AC35
profit or (loss) for the financial year AC36 AC37
dividends for the period AC38 AC39
net balance for the financial period transferred toreserves AC40 AC41
BALANCE SHEET BoxNo. This year Box No. Last year
intangible assets AC42 AC43
tangible assets AC44 AC45
TOTAL FIXED ASSETS AC48 AC49
Stocks AC50 AC51
Debtors AC52 AC53
cash at bank and in hand AC54 AC55
TOTAL CURRENT ASSETS AC56 AC57
creditors due within one year AC58 AC59
NET CURRENT ASSETS AC60 AC61
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 AC63
creditors due after more than one year AC64 AC65
provision for liabilities AC66 AC67
TOTAL NET ASSETS AC68 AC69
CAPITAL ANDRESERVES Box No. This year Box No. Last year
called up share capital AC70 AC71
revaluation reserve AC76 AC77
profit and loss account AC74 AC75
TOTAL SHAREHOLDERS FUNDS AC80 AC810
STATUTORY ACCOUNTSNOTES Box No. This year Box No. Last year
profit and loss - opening balance AC184 AC215
profit for the period AC185 AC216
equity dividends paid AC186 AC217
retained profit AC187 AC218
Many thanks
Expert:  taxadvisor.uk replied 1 year ago.
Mark, if you are able to send me your profit & loss account and balance sheet pages from CT600 return, it would be appreciated. Many thanks
Customer: replied 1 year ago.
Hi, thanks for the quick response. Details are below:PROFIT ANDLOSS Box No. This year Box No. Last year
profit or (loss) on ordinary activities before taxation AC32 (£190) AC33 (-£754)
tax on profit or loss on ordinary activities AC34 (£0.00) AC35 (£0.00)
profit or (loss) for the financial year AC36 (£190) AC37 (-£754)
dividends for the period AC38 (£0.00) AC39 (£0.00)
net balance for the financial period transferred to reserves AC40 (£190) AC41 (-£754)BALANCE SHEET BoxNo. This year Box No. Last year
intangible assets AC42 (£0.00) AC43 (£0.00)
tangible assets AC44 (£0.00) AC45 (£0.00)
TOTAL FIXED ASSETS AC48 (£0.00) AC49 (£0.00)
Stocks AC50 (£0.00) AC51 (£0.00)
Debtors AC52 (£0.00) AC53 (£0.00)
cash at bank and in hand AC54 (£189) AC55 (£0.00)
TOTAL CURRENT ASSETS AC56 (£189) AC57 (£0.00)
creditors due within one year AC58 (£0.00) AC59 (£0.00)
NET CURRENT ASSETS AC60 (£189) AC61 (£0.00)
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 (£189) AC63 (£0.00)
creditors due after more than one year AC64 (£0.00) AC65 (£0.00)
provision for liabilities AC66 (£0.00) AC67 (£0.00)
TOTAL NET ASSETS AC68 (£189) AC69 (£0.00)CAPITAL ANDRESERVES Box No. This year Box No. Last year
called up share capital AC70 £1.00) AC71 (£1.00)
revaluation reserve AC76 (£0.00) AC77 (£0.00)
profit and loss account AC74 (£188) AC75 (-£755)
TOTAL SHAREHOLDERS FUNDS AC80 (£189) AC810 (£754)STATUTORY ACCOUNTSNOTES Box No. This year Box No. Last year
profit and loss - opening balance AC184 (£-754) AC215 (£0.00)
profit for the period AC185 (£190) AC216 (-£754)
equity dividends paid AC186 (£0.00) AC217 (£0.00)
retained profit AC187 (£564) AC218 (-£754)
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply and for the information. I will review your figures and revert to you. Many thanks.
Expert:  taxadvisor.uk replied 1 year ago.
Mark, I have reviewed your figures.My comments are as follows:In year one the company made a loss of £754. There was no balance shown in AC55. In the absence of other debtors and creditors, one has to assume the loss was funded by the director through director's account. There was called up share capital of £1. I have reflected this £1 as cash in hand in AC55 and the funding of year one loss of £754 in AC59.Although there was a modest profit in year two, there was a corresponding figure in cash at bank AC54 (£190 profit + £1 called up shares). In order to make your balance sheet agree I have shown no change in creditors due within one year.My version of the balance sheet shows no difference and there is no error message... see attached I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4881
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Expert:  taxadvisor.uk replied 1 year ago.
I thank you for accepting my answer.
Best wishes.

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