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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4978
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Thank you so much for your help earlier I have now gone as

This answer was rated:

Thank you so much for your help earlier I have now gone as far as retained profits and am encountering problems with AC187 - 'the retained profit must tally with the value in the balance sheet. First year trading was loss of £366 and year two was trading profit of £139. Are you able to help please, many thanks
Hello and welcome to the site. Thank you for your question.

I will revert to you shortly

Many thanks
Customer: replied 3 years ago.
thanks for letting me know that you have picked up the query I look forward to receiving the answer. thansk again, Tanya
Tanya, thank you for your reply.

Please advise what you have in the following boxes


Many thanks
Customer: replied 3 years ago.
Hi, I have detailed below:
AC40 = £139
AC41 = -£366

AC74 = £139
AC75 = -£366

Tanya, thank you for the information...

Your entries should be

AC40 = £139
AC41 = -£366

AC74 = -£227
AC75 = -£366

AC215 = £0
AC216 = -£366
AC217 = £0
AC218 = -£366

AC184 = -£366
AC185 = £139
AC186 = £0
AC187 = -£227

AC187 = AC74
AC218 = AC184 = AC75

You may have to adjust Boxes AC50, AC52, AC54 and AC58 as appropriate by £366 to make the document balance

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. and other UK Tax Specialists are ready to help you
Tanya, thank you for accepting my answer.
Your reward of bonus is greatly appreciated.

Best wishes.