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Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4984
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I'm desperate getting the ac 218 box to accept on my tax

Customer Question

I'm desperate for help getting the ac 218 box to accept on my tax accounts return,
It asks for it to balance with the previous profit/ loss figures but it keep rejecting my figures despit matching. Please help!
Submitted: 1 year ago.
Category: UK Tax
Customer: replied 1 year ago.
i Have entered the figures which i have used below - Please help me to highlight where i am going wrong
my problem appears when i enter figures into the profit and loss sheet on the statutory accounts notes section -
My accounts relate to the years 2014 and 2015
2015 2014
Turnover AC12 £66,932 AC13 £74,622
Cost of Sales AC14 £28,033 AC15 £41,891
Gross Profit AC16 £38,899 AC17 £32,731
Distribution Costs AC18 £0 AC19 £0
Admin Expenses AC20 £36,2574 AC21 £32,916
Other Operational Income AC22 £1501 AC23 £0
Operating Profit AC26 £4146 AC27 £-185
Interest Receivable AC28 £0 AC29 £0
Interest Payable AC30 £0 AC31 £0
Profit (loss) on ordinary activities AC32 £4146 AC33 £-185
Tax on Profit or loss on ordinary activities AC34 £595 AC35 £203
Profit/Loss for financial year AC36 £3551 AC37 £-388
Dividends AC38 £0 AC39 £0
Net Balance transferred to reserves AC40 £3551 AC41£-388BALANCE SHEETIntangible Assets - AC42 -0 AC43 - 0
Tangible Assets - AC44 - 0 AC45 - 0
total fixed assets - AC48 - 0 AC49 - 0Stocks - AC50 £300 AC51 £3500
Debtors - AC52 £0 AC53 £0
Cash at hand in bank AC54 £3163 AC55 £1396
Total current assets AC56 £3463 AC4896
Creditors due with the year AC58 £0 AC59 £0
Net Current Assets AC60 £3463 AC61 £4896
Total Assets less Current Liabilities AC62 - £3463 AC63 £4896
Called up share capital AC70 100 AC71 100
reevaluation reserve AC76 £0 AC75 £0
Profit and loss account AC74 £3363 AC75 £4796
Total Share Holders Funds AC80 £3463 AC81 £4896Profit and loss account - has drawn through - 388 from 2014 but this is where i really need help on completing the other figures in order for it to submit?Have i missed something elsewhere to throw this off?
Expert: replied 1 year ago.

Thank you for your question. I will review your figures and revert to you shortly.

Many thanks

Expert: replied 1 year ago.

Thank you for your patience.

My comments and advice per attached document.

I hope this is helpful and answers your question.