Ok, great. If I may, could I just have your opinion of the following sections that I completed:
For the Statutory Accounts Notes section Accounting Policies, Turnover, Called Up Share Capital and Profit & Loss Account are ticked. Does anything else need to be ticked?
In the following section for AC320 I have put:
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
In AC321 I have put:
Turnover comprises the invoiced value of goods and services supplied by the company
In AC322 I have put:
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance
In AC323 I have put:
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
and in AC324 I have put:
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
"other accounting policies" at the bottom I have left blank. Does anything need to go there?
In the following section, Called up share capital I left Preference shares blank, and inputted 1 ordinary share at £1.
In the following section, Profit and Loss account, I haven't added any additional notes (it just displays a retained profit of £340).
For "Reserves at 29 Nov 2011" AC184, I put: 0
If all of this sounds correct to you, or if I have left anything out, please put my mind at ease and let me know.
I will certainly be rating you highly and you helped me immensely so far.