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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4879
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I am trying to file my company accounts in form CT600.. Following

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I am trying to file my company accounts in form CT600.. Following the previous years & I am getting the following error in field AC187: retained profit X ERROR:The retained profit at 2014-03-31 must tally with the value in the balance sheet. Please check and amend your entries. I can se L100 difference but I can not find the error.. Would you be able to help?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Same old error! Before you try to use the CT600 make sure that your balance sheet and Profit and Loss Account actually do balance and that items which correspond on both are exactly the same. Also that the figures you have entered on the prior year correspond with this year's. I know from bitter experience that what you think is right proves not to be the case! I don't have trouble these days through being meticulous. What you need to do now is to check that all relevant figures correspond and that the data actually balances. If it does than it should all go like clockwork. Don't forget that there is an option for the system to extract abbreviated accounts for HMRC automatically. I always use it as it saves another chore. I do hope that my reply has been of assistance.
Expert:  taxadvisor.uk replied 1 year ago.
Hello, I am another Tax expert of this site and I have helped many customers with filing their CT600 returns.It appears the other expert's answer is too general..If you wish me to help, I will be only too happy to do so...Please advise.
Customer: replied 1 year ago.
Hello,I can see a difference in £100 between previous year balance sheet and box ac218 and I can not find an error. would you be able to have a look on the numbers?
Expert:  taxadvisor.uk replied 1 year ago.
As I have received customer request, I presume you wish me to help you..I will apprecaite if you sould either send me images of the two pages profit and loss account and balance sheet or complete boxes as appropriate for me and I will review your accountsPROFIT ANDLOSS Box No. This year Box No. Last yearprofit or (loss) on ordinary activities beforetaxation AC32 AC33tax on profit or loss on ordinary activities AC34 AC35profit or (loss) for the financial year AC36 AC37dividends for the period AC38 AC39net balance for the financial period transferred toreserves AC40 AC41 BALANCE SHEET BoxNo. This year Box No. Last yearintangible assets AC42 AC43tangible assets AC44 AC45TOTAL FIXED ASSETS AC48 AC49Stocks AC50 AC51Debtors AC52 AC53cash at bank and in hand AC54 AC55TOTAL CURRENT ASSETS AC56 AC57creditors due within one year AC58 AC59NET CURRENT ASSETS AC60 AC61TOTAL ASSETS LESS CURRENT LIABILITIES AC62 AC63creditors due after more than one year AC64 AC65provision for liabilities AC66 AC67TOTAL NET ASSETS AC68 AC69 CAPITAL ANDRESERVES Box No. This year Box No. Last yearcalled up share capital AC70 AC71revaluation reserve AC76 AC77profit and loss account AC74 AC75TOTAL SHAREHOLDERS FUNDS AC80 AC810 STATUTORY ACCOUNTSNOTES Box No. This year Box No. Last yearprofit and loss - opening balance AC184 AC215profit for the period AC185 AC216equity dividends paid AC186 AC217retained profit AC187 AC218 Many thanks
Customer: replied 1 year ago.
I will be very grateful if you could have a look on the numbers belowPROFIT ANDLOSS Box No. This year Box No. Last year
profit or (loss) on ordinary activities beforetaxation AC32 11,026.00 AC33 -15,555.00
tax on profit or loss on ordinary activities AC34 0 AC35 0
profit or (loss) for the financial year AC36 11,026.00 AC37 -15,555.00
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred toreserves AC40 11,026.00 AC41-15,555.00
BALANCE SHEET BoxNo. 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 272
cash at bank and in hand AC54 2114 AC55 5495
TOTAL CURRENT ASSETS AC56 2,114.00 AC57 5,767.00
creditors due within one year AC58 3467 AC59 3467
NET CURRENT ASSETS AC60 -1,353.00 AC61 2,300.00
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 -1,353.00 AC63 2,300.00
creditors due after more than one year AC64 10611 AC65 25290
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 -11,964.00 AC69 -22,990.00
CAPITAL ANDRESERVES Box No. This year Box No. Last year
called up share capital AC70 100 AC71 100
revaluation reserve AC76 -23090 AC77 -7535
profit and loss account AC74 11026 AC75 -15555
TOTAL SHAREHOLDERS FUNDS AC80 -11,964.00 AC81 -22,990.00
STATUTORY ACCOUNTSNOTES Box No. This year Box No. Last year
profit and loss - opening balance AC184 -23,090.00 AC215 -7535
profit for the period AC185 11,026.00 AC216 -15,555.00
equity dividends paid AC186 0 AC217 0
retained profit AC187 -12,064.00 AC218 -23,090.00Many thanks in advance
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your reply and for the information.I will revert to you shortly.
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your patience...I think I have identified your errorThere should be no input for revaluation reserve AC76/AC77..Here are your figures without any entries in boxes AC76/AC77Your balance sheet agrees and there should be no error message. 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.
Customer: replied 1 year ago.
Thank you for your respond and an advice! I did as you sugessted and everything works! Thank you very much for your help and your time.
Merry Christmas!!
Ewa
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your very kind words.I have a request for you please.. if you think my approach was more direct than the other expert, I would request you to let Just Answer know of it.Merry Christmas to you too.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.
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4879
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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