I have a company that was formed a little more than 2 years ago.
The first year, I filed dormant accounts with Companies House, and nothing with HMRC. There was zero trading activity and no cash was deposited in the company's bank account.
The second year, I'm getting ready to file accounts again. This time, there's still zero trading activity, but I deposited £68 into the company's bank account, and only because the bank has started charging monthly fees after an 18-month no-fee period.
The bank only made a single £5 monthly deduction (the bank account wasn't opened right away), so the cash at bank and in hand was £63 on the balance sheet.
Since there's now some cash in the bank account, I'm also considering indicating that the £1 share capital is now paid up, unless there are any good reasons not to do this.
After filling in the figures, the current abbreviated balance sheet looks like this:
Current Previous
Called up share capital not paid - 1
Current assets
Cash at bank and in hand 63 -
-------------------
63 -
-------------------
Net current assets (liabilities) 63 -
-------------------
Total assets less current liabilities 63 1
-------------------
Creditors: amounts falling due after more than one year
(68) -
-------------------
Total net assets (liabilities) (5) 1
===================
Capital and reserves
Called up share capital 1 1
-------------------
Shareholder's funds 1 1
===================
With this in mind:
1. Does the above abbreviated balance sheet look right for the scenario as described?
2. At Companies House, when filing the above accounts, should I select the category "Abbreviated Accounts", rather than "Dormant Company", since bank fees were involved?
3. Do I not have to file anything with HMRC, since there was zero trading activity?
4. Are there any good reasons not to indicate that the £1 share capital is now fully paid up?
-- Edited by Exclusive on Monday 28th of March 2016 12:31:48 PM
Your company is not dormant, despite it not trading. Your balance sheet doesnt balance.
In the words of a prolific responder and great advisor on another website:- ''Do yourself a big favour and appoint an accountant. See it as an investment not an expense before you do something dangerous''
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
