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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 3585
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based)
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Trouble with CT600 Box AC215/AC218

Resolved Question:

Trouble with CT600 Box AC215/AC218
Submitted: 9 months ago.
Category: UK Tax
Expert:  taxadvisor.uk replied 9 months ago.
Hello and welcome to the site. Thank you for your question.

Please tell me where the problem is within your profit and loss account balances..
Is this your first year of trading or do you have figures for last year too?

Many thanks
Customer: replied 9 months ago.

I have figures for last your too.


Which boxes would you like to know?


 

Expert:  taxadvisor.uk replied 9 months ago.
Thank you for your prompt reply
Please complete these boxes
AC74 = AC187 and
AC75 = AC218

PROFIT AND LOSS Box No. This year Box No. Last year
profit or (loss) for current year after tax ac36 0 ac37 0
dividends for the period ac38 0 ac39 0
net balances transferred to reserves ac40 0 ac41 0
STATUTORY ACCOUNTS NOTES Box No. This year Box No. Last year
profit and loss - opening balance ac184 0 ac215 0
profit for the period ac185 0 ac216 0
equity dividends paid ac186 0 ac217 0
retained profit ac187 0 ac218 0


Many thanks
Customer: replied 9 months ago.


































































PROFIT AND LOSSBox No.This yearBox No.Last year
profit or (loss) for current year after taxac361660ac371
dividends for the periodac380ac390
net balances transferred to reservesac401660ac411
STATUTORY ACCOUNTS NOTESBox No.This yearBox No.Last year
profit and loss - opening balanceac1841ac2150
profit for the periodac1851660ac2161
equity dividends paidac1860ac2170
retained profitac187? 1661 won't balanceac2181
Expert:  taxadvisor.uk replied 9 months ago.
Thank you for your reply and additional information. The problem seems to be in other parts of profit & loss account and/or balance sheet. Please complete the boxes applicable -

Description of account - TO BE INPUT
PROFIT AND LOSS Box No. This year Box No. Last year
turnover AC12 0 AC13 0
cost of sales AC14 0 AC15 0
gross profit AC16 0 AC17 0
distribution costs AC18 0 AC19 0
administrative expenses AC20 0 AC21 0
other operatiing income AC22 0 AC23 0
operating profit or (loss) AC26 0 AC27 0
interest receivable AC28 0 AC29 0
interest payable AC30 0 AC31 0
profit or (loss) on ordinary activities before taxation AC32 0 AC33 0
tax on profit or loss on ordinary activities AC34 0 AC35 0
profit or (loss) for the financial year AC36 0 AC37 0
dividends for the period AC38 0 AC39 0
net balance for the financial period transferred to reserves AC40 0 AC41 0
BALANCE SHEET Box No. This year Box No. Last year
intangible assets AC42 0 AC43 0
tangible assets AC44 0 AC45 0
TOTAL FIXED ASSETS AC48 0 AC49 0
stocks AC50 0 AC51 0
debtors AC52 0 AC53 0
cash at bank and in hand AC54 0 AC55 0
TOTAL CURRENT ASSETS AC56 0 AC57 0
creditors due within one year AC58 0 AC59 0
NET CURRENT ASSETS AC60 0 AC61 0
TOTAL ASSETS LESS CURRENT LIABILITIES AC62 0 AC63 0
creditors due after more than one year AC64 0 AC65 0
provision for liabilities AC66 0 AC67 0
TOTAL NET ASSETS AC68 0 AC69 0
CAPITAL AND RESERVES Box No. This year Box No. Last year
called up share capital AC70 0 AC71 0
revaluation reserve AC76 0 AC77 0
profit and loss account AC74 0 AC75 0
TOTAL SHAREHOLDERS FUNDS AC80 0 AC81 0
Difference xxxx 0 xxxx 0



Many thanks
Customer: replied 9 months ago.























































































































































































































































PROFIT AND LOSSBox No.This yearBox No.Last year
turnoverAC1260466AC131
cost of salesAC1425528AC150
gross profitAC1634938AC171
distribution costsAC1810459AC190
administrative expensesAC2022819AC210
other operatiing incomeAC220AC230
operating profit or (loss)AC261660AC271
interest receivableAC280AC290
interest payableAC300AC310
profit or (loss) on ordinary activities before taxationAC321660AC331
tax on profit or loss on ordinary activitiesAC340AC350
profit or (loss) for the financial yearAC361660AC371
dividends for the periodAC380AC390
net balance for the financial period transferred to reservesAC401660AC411
BALANCE SHEETBox No.This yearBox No.Last year
intangible assetsAC420AC430
tangible assetsAC440AC450
TOTAL FIXED ASSETSAC480AC490
stocksAC500AC510
debtorsAC520AC530
cash at bank and in handAC541660AC551
TOTAL CURRENT ASSETSAC561660AC571
creditors due within one yearAC580AC590
NET CURRENT ASSETSAC601660AC611
TOTAL ASSETS LESS CURRENT LIABILITIESAC621660AC631
creditors due after more than one yearAC640AC650
provision for liabilitiesAC660AC670
TOTAL NET ASSETSAC681660AC691
CAPITAL AND RESERVESBox No.This yearBox No.Last year
called up share capitalAC700AC710
revaluation reserveAC760AC770
profit and loss accountAC741660AC751
TOTAL SHAREHOLDERS FUNDSAC801660AC811
Differencexxxx0xxxx

Expert:  taxadvisor.uk replied 9 months ago.

These set of figures balance...

I have changed Box AC54 to read 1,661 made up of (1660+1).because you are reflecting the profit for the year to equal cash in hand and at bank. There was £1 balance at the end of last year.


Box AC74 becomes (1660+1) £1,661

 

PROFIT AND LOSSBox No.This yearBox No.Last year
turnoverAC1260,466AC131
cost of salesAC1425,528AC150
gross profitAC1634,938AC171
distribution costsAC1810,459AC190
administrative expensesAC2022,819AC210
other operatiing incomeAC220AC230
operating profit or (loss)AC261,660AC271
interest receivableAC280AC290
interest payableAC300AC310
profit or (loss) on ordinary activities before taxationAC321,660AC331
tax on profit or loss on ordinary activitiesAC340AC350
profit or (loss) for the financial yearAC361,660AC371
dividends for the periodAC380AC390
net balance for the financial period transferred to reservesAC401,660AC411
BALANCE SHEETBox No.This yearBox No.Last year
intangible assetsAC420AC430
tangible assetsAC440AC450
TOTAL FIXED ASSETSAC480AC490
stocksAC500AC510
debtorsAC520AC530
cash at bank and in handAC541,661AC551
TOTAL CURRENT ASSETSAC561,661AC571
creditors due within one yearAC580AC590
NET CURRENT ASSETSAC601,661AC611
TOTAL ASSETS LESS CURRENT LIABILITIESAC621,661AC631
creditors due after more than one yearAC640AC650
provision for liabilitiesAC660AC670
TOTAL NET ASSETSAC681,661AC691
CAPITAL AND RESERVESBox No.This yearBox No.Last year
called up share capitalAC700AC710
revaluation reserveAC760AC770
profit and loss accountAC741,661AC751
TOTAL SHAREHOLDERS FUNDSAC801,661AC811
Differencexxxx0xxxx0

 

PROFIT AND LOSSBox No.This yearBox No.Last year
profit or (loss) for current year after taxac361,660ac371
dividends for the periodac380ac390
net balances transferred to reservesac401,660ac411
STATUTORY ACCOUNTS NOTESBox No.This yearBox No.Last year
profit and loss - opening balanceac1841ac2150
profit for the periodac1851,660ac2161
equity dividends paidac1860ac2170
retained profitac1871,661ac2181



I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

taxadvisor.uk, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 3585
Experience: FCCA - over 35 years experience as a qualified accountant (UK based)
taxadvisor.uk and 4 other UK Tax Specialists are ready to help you
Customer: replied 9 months ago.

Great. I'm sure it was pretty easy for you. But I was trying to balance it for about 3 hours. Thank you!

Expert:  taxadvisor.uk replied 9 months ago.
Thank you for accepting my answer.

Best wishes

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