UK Tax

UK tax questions? Ask a UK tax advisor for answers ASAP

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

May I ask a question about shares and the Companies House…

May I ask a...

May I ask a question about shares and the Companies House filing of accounts?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Basically, the Ltd has issues shares for nominal value of in total 200 Pounds and we stated the sum in "Capital and Reserves"

Accountant's Assistant: Is there anything else important you think the Accountant should know?

Now where do I add this as assets?

Show More
Show Less
Ask Your Own UK Tax Question
Customer reply replied 8 months ago
I am about to file a Micro account for a London-based LTD, which has been not trading and thus dormant in the period. The only item to be filled in is the Shareholder shares capital, which they have paid in:
10 shares each 20Pounds=200 PoundsIs the following then correct?Called up share capital not paid: 0
FixedAssets: 200
Current assets: 0
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: ( 0 )
Net current assets (liabilities): 0
Total assets less current liabilities: 200
Creditors: amounts falling due after more than one year: ( 0 )
Provision for liabilities: ( 0 )
Accruals and deferred income: ( 0 )
Total net assets (liabilities): 200
Capital and reserves: 200
Answered in 2 hours by:
11/3/2017
bigduckontax
bigduckontax, Accountant
Category: UK Tax
Satisfied Customers: 5,234
Experience: FCCA FCMA CGMA ACIS
Verified

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Looks correct, should go in the system OK.

Ask Your Own UK Tax Question
Customer reply replied 8 months ago
Hello Keith,we researched a little bit as well in the meanwhile and wonder if it is not right to enter as below. Please check:Called up share capital not paid: 0
FixedAssets: 0
Current assets: 200
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: ( 0 )
Net current assets (liabilities): 200
Total assets less current liabilities: 200
Creditors: amounts falling due after more than one year: ( 0 )
Provision for liabilities: ( 0 )
Accruals and deferred income: ( 0 )
Total net assets (liabilities): 200
Capital and reserves: 200SITUATION:
The shareholders have paid in the shares into the bank account and nothing else has happened, no trade, no costs and no assets acquired. There are no physical assets the company holds and it has the 200 Pounds as cash in the bank account.Reasons:
- Company house UK states: Fixed assets: "Value of the company's physical (for example, machinery, office equipment or
buildings) and non-physical (for example, patents, trademarks, licences, goodwill) assets, taking account of depreciation."
- Company house UK states: Current assets: Value of any cash, or assets that can be converted into cash within one year, held by the company at the end of the period. For example, unsold goods. Include amounts owed (debtors) here."

This revised account seems perfectly respectable to me. I do feel that you are paying to much attention to this, just file the data.

bigduckontax
bigduckontax, Accountant
Category: UK Tax
Satisfied Customers: 5,234
Experience: FCCA FCMA CGMA ACIS
Verified
bigduckontax and 87 other UK Tax Specialists are ready to help you
Ask your own question now
Customer reply replied 8 months ago
Thank you for the quick responses.

Delighted to have been of assistance.

Thank you for your support.

Ask Your Own UK Tax Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with an uk tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask bigduckontax Your Own Question
bigduckontax
bigduckontax
bigduckontax, Accountant
Category: UK Tax
Satisfied Customers: 5,234
5,234 Satisfied Customers
Experience: FCCA FCMA CGMA ACIS

bigduckontax is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Sam

Sam

Accountant

6,546 satisfied customers

26 HMRC expertise, PAYE, Self Assessment ,Residency, Capital Gains, CIS ask for Sam Tax

bigduckontax

bigduckontax

Accountant

5,234 satisfied customers

FCCA FCMA CGMA ACIS

TEAP007

TEAP007

Tax Preparer

759 satisfied customers

Fully Trained Inspector of Taxes / District Inspector/ Team Leader/ Offshore Consultant/ 41 years

Andrew Baker(baktax)

Andrew Baker(baktax)

Personal Tax Adviser

756 satisfied customers

35+ years experience in income tax, CGT, non-residence

berduchwal

berduchwal

Accountant

669 satisfied customers

Qualified accountant and bookkeeper running my own practice since 2008.

Clare

Clare

Solicitor

148 satisfied customers

25 years exeperience as a high street solcitor

Mrs-Tax

Mrs-Tax

Tax Adviser

59 satisfied customers

Law Degree, 19 years in UK Tax.

< Previous | Next >

Related UK Tax Questions
I am trying to file my company accounts with companies house
I am trying to file my company accounts with companies house for the accounting year 1st Feb 16 - 31st Jan 17. I have just discovered that the HMRC website is no longer allowing Abbreviated Accounts, … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I want to file my annual returns, and I'm struggling filling
Hello, I want to file my annual returns, and I'm struggling filling up balance sheet.Fixed assets Do you want to provide a Fixed assets breakdown? Current: Total fixed assetsCurrent assets Do you want… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I'm trying to fill in my House Micro-Entity Accounts online.
Hi I'm trying to fill in my House Micro-Entity Accounts online. I'm a complete novice. I have the figures but cannot understand the terminlogy on the Balance Sheet Pro Forma.Money going into business … read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master\u0027s Degree
461 satisfied customers
I need help on how to fill the micro entity account form and
I need help on how to fill the micro entity account form and the HMRCHi I'm trying to fill in my House Micro-Entity Accounts online. I'm a complete novice. I have the figures but cannot understand the… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I'm currently compiling a set of micro-entity accounts.
Hi, I'm currently compiling a set of micro-entity accounts. … read more
bigduckontax
bigduckontax
Accountant
5,234 satisfied customers
Help filing micro entity accounts, Urgent deadline to file
Urgent deadline to file micro entity accounts - first year … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Trying to fill in our Companies House Micro-Entity Accounts
Hi Trying to fill in our Companies House Micro-Entity Accounts online. It's our first year and we are still in the R&D stage, so not selling much. Total costs are £13033.83 (prototypes and shows/event… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I am trying to complete my first years micro entity accounts
Hello, I am trying to complete my first years micro entity accounts on the Companies House website and have all the figures just no sure which box represents what?… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I'm filling micro entity accounts on Webfilling, my company
I'm filling micro entity accounts on Webfilling, my company did not make any sales in the period only incurred costs. Am I right in thinking that all the expenses are to be accounted for in section 'C… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I am trying to file a micro entity set of accounts and am
I am trying to file a micro entity set of accounts and am getting an error message - probably due to me not understanding what is required… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
I am completing CT600 and am stuck. Can you help me? It
Hi I am completing CT600 and am stuck. Can you help me? It is ac80 it just won't compute and I cannot see where I'm wrong as I have no error messages anywhere else. Thanks… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Can you help with my ct600 micro? its my 2nd year return
hello, can you help with my ct600 micro? its my 2nd year return and i need some general help, and specifically with ac34 aND AC35… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
im trying to fill out the micro form online and am getting
hi im trying to fill out the micro form online and am getting confused with box ac34 this the companies first year… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Trying to fill in My Sons Companies House Micro-Entity Accounts
Hi Trying to fill in My Sons Companies House Micro-Entity Accounts online. I'm a complete novice. I have the figures in laymans terms but cannot understand the terminlogy on the Balance Sheet Pro Form… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Hi, We have to submit our abbreviated been advised that it
Hi, We have to submit our abbreviated been advised that it is wrong. I was wondering whether you would be able to help. We have not made any profit since we started two years ago. We resell products o… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Hi I am trying to return the Financials to companies House
Hi I am trying to return the Financials to companies House but keep getting the message "Shareholders' funds must be equal to the total net assets (liabilities)". I dont understand why they should tal… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
i am filling in the CT600 and i am stuck at Capital and Reserves This
i am filling in the CT600 and i am stuck at 'Capital and Reserves' This is is our first return and therfore two filings are neccessary. the first filing covers the period 27/9/2011 to 18/11/2011 the f… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,191 satisfied customers
Hi, Im trying to fill in my Companys Abbreviated Accounts
Hi, I'm trying to fill in my Company's Abbreviated Accounts for Companies House and I am stuck making it balance out. This is because I am getting confused with the terms. This is the first time the c… read more
CDF Tax
CDF Tax
Bachelor\u0027s Degree
109 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x