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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4972
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I cannot seem to make my balance sheet add up. I may be

Customer Question

I cannot seem to make my balance sheet add up. I may be entering some figures incorrectly in creditors amounts falling due within one year and perhaps another category. I have done the profit and loss and also prepared the accounts in a format acceptable to Companies House based on previous accounts from my past accountant. Anyway, can someone look at my accounts and advise me how to correct them.
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
I have attached the accounts. My questions pertain to the balance sheet. You can see that the two sides don't add up.
Customer: replied 1 year ago.
how do I correct this?
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question..

There are a few gaps that need addressing, e.g clarification on creditors,

Please advise what is the make up of creditors

Many thanks

Customer: replied 1 year ago.
Creditors are:
1Bank loans and overdraft--what I need to pay on my credit card and other loan I made for VAT last year. Other creditors are what I owe myself from dividends not paid--the same figure as in note 11.
Customer: replied 1 year ago.
The Creditors in note 8 is for a loan to buy a bar, which is for 35k.
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your reply and for additional information.

I have looked at what was filed at Companies House for year ended 31 Aug 2014.

The figures you have given in your 2015 accounts do not tie with the figures reported for 2014 last year.. here are examples

total net assets for 2014

per CH accounts - 10,679

per draft 2015 accounts - 8,090

difference (10,679-8,090) 2,589

Profit and loss account at 30 Sep 2014

per CH accounts - 7,358

per draft 2015 accounts - 4,769

Furthermore, you state creditors include dividends not paid..

Where have you reflected dividends in profit and loss account

Secondly, dividends are accounted for on cash basis and there should be no creditor.

I am happy to help you by offering premium service and my offer is here..

Many thanks

taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 1 year ago.
It appears that my accountant did not send the amended accounts from last year. I am working from these. I suppose I shall have to send them at the same time as the new accounts are ready. Should I change the date to the current one or can we show the amendments in this set of accounts without having to resubmit. The 'Add Files' button did not work so I could not show them to you. How can I send them to you? To answer your questions: the sale of investments that were previously 52000 have been used to clear the director's account and pay part of historic dividends owing. I have not reflected dividends in the p and l account. If dividends are accounted for by cash then the creditor figure is incorrect.
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for accepting my offer..

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