I am preparing the accounts for a Ltd company (sole director) and the following was added to the credit owed to the director (creditors falling due within one year):
- £208 - for using home as an office
- £255 - for purchase of equipment
- £300 - director put money into the business
What information do I have to disclose in the "Transactions with directors" notes section of the accounts (hmrc) and what is the best way to write it please?
Regards,
Tony
Replies (3)
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HMRC
Not sure what this has got to do with HMRC. Your question is just about accounts disclosure.
I think you disclose each of the three transactions separately, saying in each case that the sum in question remained outstanding at the year end, and that the total amount outstanding at the year end was £XXX.
Is this a micro-accounts company ?
If it is you might want to take a look at the requirements. Perhaps life just got easier for you.