You would be better selling them to the limited company and creating a credit to your director loan account (assuming you are a director) which you can draw down in the future as cash flow permits.
Need to allocate a market value of what you are selling to the limited company. Journal to record would be
Dr Fixed Assets
Cr Directors Loan
I think you will be able to claim capital allowances but only TWDV allowances as opposed to AIA. Though someone may be able to advise otherwise or not.
I had a feeling that is what I would need to do, so, if I have this correctly.
Lets say I feel a fair value is £350.
Then, I sell them to the business, debiting and crediting the accounts as you proposed. Then, the business would "owe" me £350 in the future?
Is this correct?
If it is, would this then be an asset to my business, or would it be that the computer is a new fixed asset, but the amount sold would be a long term liability as this is then owed back to me?
If £350 was the value which seems reasonable for computer, desk and chair then £350 would be an asset under fixed asset to be depreciated over the life of the assets. The £350 liability would be what the company owes you for selling the items. It would just be credited to your loan account to be repaid as cash flow permits.
I think you will be able to claim capital allowances on the £350 but only under TWDV rather than AIA.
