Thank you for your question..
There are gaps in figures you have provided...
Need to know
- what you input in boxes AC71, AC75
- was last year first year of reporting
- more about dividends taken last year amounting £400
- profit and loss figures input in boxes AC36 and AC37, AC38 and AC39, and AC40 and AC41.
- what does £563 represent in box AC64
Thank you for your reply..
I have to be honest and say, I am unable to help you with the question unless I offer additional service as there is work involved and the current fee is not adequate.
I leave it to you whether you wish to take the offer of additional service. If you decide to, I will happily help you complet your accounts and explain what adjustments have been done and why.
my offer is here.
Mark, thanks for your reply. The fee you pay to JustAnswer to assist you with preparation of accounts is tax deductible.
Mark, thank you for accepting my offer.
Please provide me with you contact number and I will call you in the morning to progress with your accounts use "enter Contact Info" for your contact number.
Mark, happy to talk with you tomorrow evening.
Itvwoul spped up matters..
Apologies for typing errors.
Phone call will speed up matters.
I will try to send you information beforehand
thank you for your reply
Mark, please advise name of your company. I will check and see what accounts were filed in previous years for comparison and audit trail.
Mark, attached are accounts for year ended 29 feb 2016 for your perusal and consideration.
These are based on information provided by you.
Mark, thanks for your reply.
I used your figures for 2015 from the accounts filed at Companies House.
I don't understand why you had input in 563 in AC64. I removed it and used AC58 as a balancing figure to make sure your balance sheet agreed. I assumed your figure in AC54 to be correct.
As I stated in earlier posting, I used box AC58 as a balancing figure to make your balance sheet agree.
This in theory is the amount owed to creditors by the company as at 28 Feb 2016.
In arriving at this figure, I had to make certain assumptions e.g
- the profit for the year as stated is correct
- the amount of cash in hand and at bank as stated is correct
- no monies were owed to the company at the year end i.e. no debtors.
I hope this is helpful.
I have just spotted an error in my formula and the revised figures are
The figure in box AC184 was reading zero. This has been corrected now.
My humble apologies.
Thank you for your reply
Share capital in AC71 is 1 (this is plus)
Profit and loss in AC75 is a loss of 564 (this is minus)
Shareholders' funds should be AC71+AC75 =563
I am pleased for you.. The fee is an allowable expense for tax purposes.
Personally, I would put on the tax return for this year's expenses as the work is undertaken in this accounting period.
The amount is not significant.. If you put against last year then you have to accrue the fee i.e show the charge in profit and loss account and show a creditor in balance sheet(amount outstanding at year end)