we have recently received a letter for filing our accounts for period ending 30/11/2011.
as we started trading on january 2010, is it fine to submit accounts for the whole period january 2010 - November 2011
or do we have to submit them as two different returns for each financial year.
also on Sage 50 Account Plus, the trial balance date report shows the following options
1. March 2010 2. April 2010 3. May 2010 4. June 2010 5. July 2010 6. August 2010 7. September 2010 8. October 2010 9. November 2010 10. December 2010 11. January 2011 12. February 2011
Future
there is no option for 2011 after february 2011, does that mean we have to close financial year for first twelve months and only then can we print detailed tb for next financial year or is there a way we can print it for period end 30/11/2011 starting from march 2010.
the future option includes everything from start to the present date which is not what we want.
You wont be able to submit accounts for the period Jan 2010 to Nov 2011 as this is more than a 18 month period (the maximum you can submit accounts for). If you have received notice to submit accounts to 30/11/11 from Companies House and you started trading in Jan 2010 then you must have either already submitted accounts (or should have submitted accounts) for an earlier period. If you wish to PM your company name can look into for you.
Re SAGE it seems you have set the year end as Feb. You would need to balance forward into the year to Feb 2012 to run your trial balance to Nov 2011. Appears what you should be doing is amending your SAGE year end so it ties in with the year end at Companies House. If you have cover with SAGE they should be able to sort this for you as once you have started posting transactions yourself then you cant change the year end yourself.
As said above message me if you want me to look into the company status and what you need to do.
Last Accounts Made Up To: 30/11/2010 TOTAL EXEMPTION SMALL Next Accounts Due By: 31/08/2012 Overdue
does that mean accounts have been submitted till 30/11/2010
also the letter from ch says accounts for period ending 30/11/2011 which means period from 30/11/2010 - 30/11/2011
as we dont have the figures that were submitted earlier if they were submitted how do we close the period till 30/11/2011 and carry forward the balances as the person responsible for accounts is no longer available.
The information submitted to companies house is available for download if you do not have it to hand.
Of course, those are likely to only be the abbreviated accounts and you, or the person who prepared the accounts should have the full version that will have been signed at the time.
Whilst the person responsible for the accounts may not be available what has happened to the underlying data? Was the move to Sage after these accounts were filed?
The last set of accounts should have formed the basis of the brought forwards figures making up your opening balances.
It is worth noting that the accountant or bookkeeper is not responsible for the accounts or the maintenance of records, that is the sole responsibility of the directors who bring in expertise to assist in entry, collation, preparation and filing.
The signature on the accounts will be the directors showing their acceptance of responsibility for the information therein.
The data will have always remained the property of the company and if previous assistance is no longer working for the company they will have left the data behind up to the stage that they left.
Also all of the underlying documentation must still exist (invoices, bank statements, receipts) as there is a legal requirement to retain it for at least six years (but wiser to keep it for twenty).
The one time that there may be an issue over access to books and records is if the accountant is exercising their legal right of lien due to outstanding fee's (the legal issues associated with that for limited companies are a whole different thread and not important to this discussion). If such is the case it would probably be best to pay the ransom to get one's information returned (note that one has no right to the data on the accountants system or any notes that the accountant kept. Only to your trial balance and the set of accounts produced from that trial balance and all of your own documentation that may have been held by the accountant).
The above is just a guess as to why a business does not have access to it's own historical data. Please fill in further detail as to the reason for the absent information and someone here will endeavor to point you towards the best route towards getting your information back into the required state (which may include advice on what the accountant / bookkeeper is required by law to return to you if such is the issue with the missing information),
kind regards,
Shaun
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Sounds like you need some professional help to get yourself sorted out.
If accounts to 30 Nov 2010 have been submitted and the period due to is 30 Nov 2011 then you will be due to prepare accounts for the period 1 Dec 2010 to 30 Nov 2011.
You will need to get a copy of the trial balance at 30 Nov 2010 that forms the basis of the 2010 accounts submitted at Companies House in order to work out what your start point is on SAGE.
Would suggest you go and speak to a local accountant or email me through my website below and will see if can help you out.
Regards
MarkS
PS note that your accounts were due to be submitted by 31 August 2012 (9 months after the period end) so they are late and will have a penalty of at least £150 to penalty (if the accounts were submitted late last year then will double that). If the accounts are not submitted by 30 November 2012 the penalty increases to £375 then increases to £750 by 28 Feb 2013 and to £1500 if not filed by 31 August 2013. As said email me through my link below if you need any help.
Anyone has access to it. just go onto webcheck, find your company and click the little basket button to order information.
find the documents that you want and then buy them from CH.
Your abreviated accounts will set you back the stately sum of £1.
Once purchased you have access to redownload for ten days before you nee to pay again.
The document that you want will be prefixed AA (annual Accounts) and will say something like total exemption small.
Whilst lookiing at the list you will also be able to see everything else that has been filed for the company although to get access to any of the listed documents will cost £1 per document.
because these will only be abreviated accounts there is very limited information available in them.
There won't be a P&L but there is a BS with limited notes.
The idea is that people will not be able to properly judge your business performance from abreviated accounts. There is basically just enough information there to be useful as a guide but not enough to make a judgement call on a business.
The question that you should really be asking is who has your full accounts? Where is your P&L for the period in question? These must have been a version signed by yourselves.
kind regards,
Shaun.
p.s. there are other ways of getting the companies house information but for the casual viewer interested in only one company the CH service is fine.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
we have downloaded the abbreviated accounts and expecting tb from the accountant.
once we get the tb and add the figures, do we print the new p&l and balance sheet for the next financial year for submission or do we have to make any adjustments before final submission.
You have to produce statutory compliant accounts at Companies House. You also have to produce IXBRL compliant accounts when you submit the company tax return to HMRC.
You could of course submit the accounts online at Companies House but if your accounts doesnt match their preset template then you wont be able to use this.
Still would recommend getting professional assistance to meet statutory requirements.
