How to represent losses carried forward on a P&L?

Posted by joannefreeman PM | on Wed, 25/11/2009 - 22:57 893 2 comments | report

I have a very small (below £20K turnover) limited company. The accounts are incredibly simple and have mostly been completed by copying and transposing data from the previous year. However there is a loss to be brought forward and I do not know how to represent this. Also, the content of the Balance sheet does not seem to be applicable to my business. Is it ok to leave it blank?

Comments

This is a wind up isn't it?

Chris Smail | Thu, 26/11/2009 - 07:37 | Permalink

May I refer you to the contents of the Companies Acts

Maybe no so simple!

skylarking | Thu, 26/11/2009 - 09:35 | Permalink

If you are doing double-entry bookkeeping you will have all the components of a balance sheet. You will need to prepare one, of course. In fact the requirement of Companies House is that you file, at least, abbreviated accounts which consists of a balance sheet but not a profit and loss account.

Just a thought. Maybe you don't have a company and you are actually a sole trader?