aggregate nominal value

aggregate nominal value

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we are about to prepare our company accounts. it says that the aggregate nominal value is 500; and amount paid per share - 0 ; amount unpaid per share - 0. My question is that can we put as 500 share capital at the balance sheet in the share holders fund?  Thanks

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By Emthi
10th Sep 2013 18:07

any answer to this please?

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By User deleted
10th Sep 2013 18:16

You'll get an answer if you explain the question

Amount paid per share £0

Amount unpaid per share £0

Well, which one is it, because it can't be both. And what do you mean by "it" when you say "it says"?

If you're having difficulty with accounts, engage an accountant

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By Emthi
10th Sep 2013 18:25

sorry about that. "It" means

sorry about that. "It" means a print out of AR01form from companies house. let me write as it is written in AR01. - Number allotted-500; Aggregate Nominal value-500; Amount paid per share-0; Amount unpaid per share-0; I suspect we can't put  any amount in the called up share capital column which will be blank in the balance sheet- am I right? thanks again

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Scalloway Castle
By scalloway
10th Sep 2013 20:28

Debtor

If you have £500 of shares and nothing paiid up you have a debtor of £500. The amount unpaid per share will be £1.

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By User deleted
10th Sep 2013 20:52

Who says they're unpaid, though?

The zeros on the Annual Return should be ignored. So the shares could be:

Fully paid  (and cash fully paid)

Fully paid  (cash outstanding)

Partly paid  (cash outstanding or not)

Nil paid

Until we know what they are, we can't advise on the accounting

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By Emthi
10th Sep 2013 22:25

I'm bit confused. can we say that the called up shares are £500 and record it in the capital and reserve part? OR in the called up share column just put nil??

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By User deleted
10th Sep 2013 22:31

As I said earlier

You haven't given enough information - and if you're confused, engage an accountant

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Euan's picture
By Euan MacLennan
11th Sep 2013 10:15

Simple question

How much have the shareholders - probably, the original subscribers who formed the company and said they would subscribe £500 - actually paid into the company for their shares?

Tell us that and you may get an answer to your question, but you really do need to consult an accountant.

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By Emthi
11th Sep 2013 12:54

thanks you are right but in the AR01 it shows paid per share-0, so I assume that it wasn't paid. If it wasn't paid what can I do please?

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By johngroganjga
11th Sep 2013 13:00

The annual return is not the place to look for records of receipts and payments of money.  The place to look is in the company's cash book.  Does the cash book record any receipts of money from the shareholders in return for the shares issued to them?  If so, how much?

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By Emthi
11th Sep 2013 13:04

No. no payment was made by the shareholder in return of the shares issued

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By johngroganjga
11th Sep 2013 13:12

Then you already have the answer, as provided by @scalloway above.  Would be wise before proceeding to double-check that the shareholders agree that they remain indebted to the company for the issue price of their shares.

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By User deleted
11th Sep 2013 13:15

But ...

... we still don't know if the shares were issued as nil paid, or fully paid but with the cash still outstanding.

My money would be on the latter, but please, please, go and speak to an accountant. This will be my last post on the subject because I'm fed up trying to tease out the relevant facts.

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By Emthi
11th Sep 2013 13:18

Thanks a lot everybody

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