We submitted the accounts of a Limited company (property) last month but now the director wants to convert the director loan to share capital to strengthen the balance sheet since he is trying to raise capital
The client wants us to amend the accounts. His mortgage advisor has also questioned why we didn't convert the director loan to share captial (even though we did mention this to the director at the time). You cannot backdate the issuance of share capital ?
What is the process of converting director loan to share capital. Is any additional paper work required ?