Chris, thank you for your patience.
Based on information given I wish you to consider this presentation.
My rationale behind the figures is -
Original investment of £160,000 (10,000 x16) was used to fund the freehold. Of this only £16 paid for called up share capital and the balance is long term loan by the shareholders/investors. If the figure is less than £159.984 then change it and show the difference within current assets/current liabilities i.e Boxes AC52 to AC58
Your accumulated losses to date are £1,800. Monies raised from ground rent and other sources have funded administration costs.
I am not sure what the bank balance was at year end date. You say there were current liabilities of £10,000 at year end.
At present I have used the accumulated losses to equal creditors - Box AC58
|BALANCE SHEET ||Box No. || ||This year |
|intangible assets ||AC42 || ||0 |
|tangible assets ||AC44 || ||160,000 |
|TOTAL FIXED ASSETS ||AC48 || ||160,000 |
|stocks ||AC50 || ||0 |
|debtors ||AC52 || ||0 |
|cash at bank and in hand ||AC54 || || |
|TOTAL CURRENT ASSETS ||AC56 || ||0 |
|creditors due within one year ||AC58 || ||1,800 |
|NET CURRENT ASSETS ||AC60 || ||-1,800 |
|TOTAL ASSETS LESS CURRENT LIABILITIES ||AC62 || ||158,200 |
|creditors due after more than one year ||AC64 || ||159,984 |
|provision for liabilities ||AC66 || ||0 |
|TOTAL NET ASSETS ||AC68 || ||-1,784 |
| || || || |
|CAPITAL AND RESERVES ||Box No. || ||This year |
|called up share capital ||AC70 || ||16 |
|revaluation reserve ||AC76 || ||0 |
|profit and loss account ||AC74 || ||-1,800 |
|TOTAL SHAREHOLDERS FUNDS ||AC80 || ||-1,784 |
| || || || |
|Difference ||xxxx || ||0 |
Please review these and let me have your comments.
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