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Carrying over losses

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Hi all, 

I have recenetly parted with my accountant, due to his handling of my accounts ( mixing up expenses and assets?! ). It hasn't been at best time with lockdown and stuff but I have attemped to put in  limited company accounts myself and after which I will find accountant, I'm of a analog age so would rather meet someone face-to-face first to get a feel of them. 

My question is: I have a loss from last year of 3,000 and a profit this year of 2,000. If my knowledge is correct I handle it this way on balance sheet and profit and loss: 

P+L will read £1,000 loss. 

Which I will then put over to the blance sheet under capital and reserves as : 

 - £1,000. 

I don't have any owners equality or anything so this is the only figure it will read. 

And next year I shall be able to take this 1k over and set aganist profits. 

Thank you or any guidance. 

Replies (8)

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By Accountant A
15th Jun 2020 18:25

oug

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Replying to Accountant A:
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By Sunny_walks
31st May 2020 14:58

Indeed I shall, wee bit hard up here in the sticks, either I do it or the milkman. :)

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Replying to Sunny_walks:
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By Accountant A
15th Jun 2020 18:25

oug

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Replying to Sunny_walks:
RLI
By lionofludesch
31st May 2020 15:20

Sunny_walks wrote:

Indeed I shall, wee bit hard up here in the sticks, either I do it or the milkman. :)

Give it to the milkman.

I take it you've applied for the three month Covid-19 extension ?

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Replying to lionofludesch:
Hallerud at Easter
By DJKL
31st May 2020 15:58

If his name is Ernie you get the accounts back by return.

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Hallerud at Easter
By DJKL
31st May 2020 15:57

If you want to give us the company name we can possibly check what the share capital in the accounts ought to look like on Companies House, subject to Co Hse records actually being correct.

Unless it is a company limited by guarantee, which I doubt, there really ought to be share capital reflected somewhere within the accounts, even if merely unpaid.

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By Cheshire
31st May 2020 17:55

Sunny_walks wrote:

Hi all, 

I have recenetly parted with my accountant, due to his handling of my accounts ( mixing up expenses and assets?! ). It hasn't been at best time with lockdown and stuff but I have attemped to put in  limited company accounts myself and after which I will find accountant, I'm of a analog age so would rather meet someone face-to-face first to get a feel of them. 

My question is: I have a loss from last year of 3,000 and a profit this year of 2,000. If my knowledge is correct I handle it this way on balance sheet and profit and loss: 

P+L will read £1,000 loss. 

Which I will then put over to the blance sheet under capital and reserves as : 

 - £1,000. 

I don't have any owners equality or anything so this is the only figure it will read. 

And next year I shall be able to take this 1k over and set aganist profits. 

Thank you or any guidance. 

Thanks (0)
avatar
By Truthsayer
02nd Jun 2020 15:24

You clearly have no idea what you are doing. You can't even write English without many errors of spelling and grammar, so why do you think you know how to prepare accounts? Get an accountant now.

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