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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Question re CT600, please. - Balance sheet - I have the following

Customer Question

Question re CT600, please. - Balance sheet - I have the following entries
AC44 £13943
AC48 £13943
AC50 £10424
AC52 £3328
AC54 £1113
AC56 £14865
AC58 £12093
AC60 £2772
AC62 £16715
AC68 £16715
Yet the Statutory Accounts notes throw up a problem with AC187 -
AC215 £22854
AC216 -£53
AC217 0
AC218 £22801
AC184 £22801
AC185 -£6086
AC187 X ERROR The retained profit at 2015-03-31 must tally with the value in the balance sheet. Please check and amend your entries - AC187 £16715
Submitted: 1 year ago.
Category: Tax
Expert: replied 1 year ago.
Thank you for your question.Please clarify for me..You have not provided any figures for last year.. I presume this is not your first year of reporting as you have shown profit and loss figures for last year by completing boxes AC215, AC216 and AC218.Please provide balance sheet figures for last year .. Boxes AC43-AC81.Also let me know what the called up share capital is for both years AC70 and AC71.I will review your accounts and revert to you. Many thanks
Customer: replied 1 year ago.
Thank you:
Last year's figures:
AC45 £8650
AC49 £8650
AC51 £10189
AC53 £4714
AC55 £1592
AC57 £16495
AC59 £2340
AC61 £14155
AC63 £22805
AC69 £22805
AC71 £4
AC75 £22801
AC81 £22805AC70 £4
AC71 £4During the year we purchased machinery value £3995.
Look forward to hearing from you.
MaryAC70 £4
Expert: replied 1 year ago.
Mary, thank you for your reply.I will revert to you after I have a closer look at your figures. Many thanks
Expert: replied 1 year ago.
Mary, you have a difference of 4 between total net assets AC68 and AC80 as shown in my attachment (pre suggested adjustment).This is equivalent to the value of called up share capital. An easy and practical option would be to reduce the balance on director's account if any (within creditors AC58) by 4 thus increasing AC68 to 16,719Alternatively, show cash in hand of 4 to represent cash paid for the called up share capital and increase the amount shown in box AC54 to 1,117. It would appear what ever entries were done previously were temporary. 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.
Expert: replied 1 year ago.
Mary, I noticed there was a follow up question from you based on my answer to this question.
This new question has been accepted by you.
I hope you were able to file your CT600 Return without errors.
If there are no more issues, I will appreciate if you would kindly rate my service/accept the service I have provided before you leave the site, to ensure I get credited for it by Just Answer.