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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5116
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have to submit a Micro-entity Balance Sheet to Companies

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I have to submit a Micro-entity Balance Sheet to Companies House. can you advise how?

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.

Thank you for your question..

Please advise if it is your first set of accounts you wish to file

What financial information is available .. are accounts in draft form etc

Many thanks

Customer: replied 1 year ago.
Thanks. This is my first set of accounts. I'm on the micro-entity balance sheet web page. My ltd. company is service based so very simple.
Customer: replied 1 year ago.
No assets, so I have put 0 in all the fields since my expenses were more than my earnings.
Is that OK?

Thank you for your prompt reply.

Do you think it would be better we have a phone chat as I will guide you as you go through the form

Customer: replied 1 year ago.
I prefer to type if that's ok

When filing accounts are Companies House ..whether micro-entity or abbreviated accounts, you only file the balance sheet

Customer: replied 1 year ago.
it's just that I have 0 in every field and I don't know if that is right. I earned £17077 and total expenses were £17449.
I can see where to put assets (or what I would call my earnings) but can't see where to put straight forward expenses.

what is your called up share capital.. share capital issued and paid for!

what is the loss for the year and how has it been funded?

is there a company bank account..if so, what was the balance at year end

assets are not earnings...

many thanks

earnings and expenses are profit and loss account items and do not appear in any of the boxes on the balance sheet

Customer: replied 1 year ago.
OK. I only understand income and expenses :(
called up share capital - when I started the ltd. company I gave myself as the only director 1 share valued at £1. Is that what this is?
I have a company bank account which all earnings go into. problem is that half my expenses were paid out of my personal account but I have recorded everything in my income and expenses excel file which shows an overall loss.

Thank you for your reply.

To speed up matters, I am happy to prepare your accounts in the format required to file at Companies House from your excel file.

I will also need the bank balance at year end.

This would be done as additional service and please let me know if this is acceptable.

Customer: replied 1 year ago.
What is the cost please?

Here is my offer

Customer: replied 1 year ago.
Thank you anyway. I would really just like to know - after having read all the explanations on companies house regarding the fields on the balance sheet - whether it makes sense that they are all 0 as none apply to my income and expenses? And therefore if all is 0, how will they work out if I must pay any tax?

Thank you fo ryour reply.

The accounts filed at Companies House for a requirement under Companies Act.

The accounts filed with the Tax Office are used to determine corporation tax due.

Its the propfit and loss account that shows profit fo rthe year on which tax is calculated and not the balance sheet.

You can't have zeros in all boxes on the balance sheet

Customer: replied 1 year ago.
Right. now I was told that I could file my accounts through companies house and not have to file with HMRC?
Customer: replied 1 year ago.
I also have to sort out my VAT which is at a reduced rate for the first year of operating. How much would you charge please to prepare the accounts based on my profit and loss spreadsheet plus for tax purposes and also prepare whatever needs doing for VAT please?

Who told you's incorrect.

If you file your accounts using HMRC software, you can file accounts at both Companies House and HMRC. You don't have to input accounts section twice.

I hope this is helpful.

Would you like me to continue with helping you?

Here is my revised offer

I am a qualified accountant in practise.

Customer: replied 1 year ago.
Thanks. This will include looking at the VAT? Will you be submitting info to companies house and HMRC or will I using the information you prepare?

I will share information with you and you will file it.

Please make sure your records are clear and complete and that i don't have to do any book-keeping. I will review your records and prepare accounts from these records.

many thanks

Customer: replied 1 year ago.
Thanks. Please bear with me while I think it through.

no problem and other Tax Specialists are ready to help you

Thank you for accepting my answer and offer for additional service.

Please send me information as attachment here or let me have your email address and we can correspond via email.

Many thanks

Customer: replied 1 year ago.
Help - I have sent emails and phoned and still I've received no communication!

Thank you for your reply.

We last spoke on 15 Dec 2016 and I don't appear to have received anything from you.

I am providing you my contact details in contact info..please chack and send me an email.

Many thanks

please provide your contact details in contact info .

Thank you for your phone call.