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I don't have a social security question. I have a micro

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I don't have a...

I don't have a social security question. I have a micro entity account question.

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

I am filling accounts at companies house and need to calculate the debtors figure. Can you help with that too?

Accountant's Assistant: Is there anything else the Accountant should be aware of?

Yes, I have booked entries in an accounting software and can make lists of different items if necessary.

Submitted: 8 months ago.Category: UK Tax
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Answered in 8 minutes by:
11/13/2017
UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 5,182
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

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UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago

Thank you for your question.

Let me have your draft accounts/figures and I will help you fill in micro-entity balance sheet for CH purposes.

Many thanks

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Customer reply replied 8 months ago
Hello,
I am sending you the balance sheet as per 31.12.2015 made in a software called Kashflow and our Year end accounts for 2015 with the official figures filled as our 2015 accounts.I am trying to file for the year leading up to 31.12.2016 and if you can tell me how "Debtors"and "Creditors amounts falling due within one year" were calculated in 2015 I can do the same for 2016.Do you need more information from me?Best,
Johan
UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago

Thank you for your reply and for additional information.

I am struggling to reconcile the detailed balance sheet with the accounts filed at Companies House. There are gaps in many areas e.g

- tangible fixed assets

- called up share capital

- debtors and creditors

- cash balances

Can you provide me with more information.

Many thanks

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Customer reply replied 8 months ago
Hello,
Yes, definitely.The tangible fixed assets is £ 926 which can be seen confirmed with the attached spreadsheet that comes from Tax Assist, the accountants at the time and the called up share capital is £ 200.I will also attach the 2016 Balance Sheet and PNL since my goal is to file for 2016. Keep in mind that I have not made year end reconciliations following 2015.Don't hesitate getting back to me if you need more information.Best regards,
Johan
UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago

Thank you for your reply.

Are you happy to consider phone call and additional q&a time...this is premium service.

I need to understand the rationale behind some of your postings.

The spreadsheet covering tangible fixed assets shows NBV £925 at 31/12/2015 where as your ledger is showing a balance of £9656.. a big difference between the two.

Your draft balance sheet shows a difference of 884 between total net assets and capital and reserves.

The figures as presented don't make sense.

I am a qualified accountant and run an accountancy practise and I am lost with your figures.

Many thanks

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Customer reply replied 8 months ago
Hello,I need to leave in 10 minutes, can we postpone until tomorrow?Before I confirm the phone call, can you tell me how much is left if any of the payment I made earlier today.Let me elaborate on how the accounts are produced.
- We book all transactions in Kashflow and the accountant has access to the accounts.
- I would assume that they do an export of our bookings and import it into an accounting software they use to produce Year End reports.
- Then they file the reports for us.
What information should I have handy before we speak?Best,
Johan
UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago

Thank you for your reply.

I presume you get equivalent to a trail balance at the end of each accounting period that balances all debit entries with credit entries.

You would also have a chart of accounts listing all nominal account headings separating income from expenses and assets from liabilities. These documents would be helpful. We can assume the postings to p&l account are correct and complete.

Whatever payment you have made sits with JustAnswer until such time you accept the answer.

Many thanks

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Customer reply replied 8 months ago
Hello,
Thanks for your reply. Before we speak I'd want to make sure you have all necessary information in order to advise me. See attached the Nominal Ledgers and Trial Balances for 2015 and 2016.Is there any other information you would require before we speak?Best,
Johan
UK Tax Professional: taxadvisor.uk, Chartered Certified Accountant replied 8 months ago

Thank you for your reply.

I am going to be honest with you and say there are lots of adjustments to be made as the trial balance at 31/12/2015 and final accounts for 2015 show different figures and these adjustments have to be made in 2016 to get any meaningful numbers. There is a lot of work involved and I won't be able to help you on JustAnswer.

I will opt out.

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Customer reply replied 8 months ago
What options do I have?Best,
Johan
Customer reply replied 8 months ago
Hello,
Two days ago I asked what options we have in order to fix this and submit our year end accounts to Companies House. Are you working on an answer?
Best,
Johan
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