I'm fairly sure this is a very simple question and would really appreciate if someone could give me a little help. I'm not sure which box to put my balance brought forward in my abbreviated accounts with companies house.
I have a small company with no income for the last 2 years, with a small amount of money owed to the director for expenses that they paid for each year (lets say £1). The balance sheet last year was simple enough: Assets 0 Creditors (£1) P/L (£1)
This was not paid off, how do I bring it across for this year?
So lets say another £1 loss. The P/L is -£1 again but the creditors is now £2? This obviously doesn't balance though.
Where does the debt not paid off go? As a minus in other reserves?
-- Edited by Blue_bird on Wednesday 29th of January 2014 06:04:05 PM
