This seems a silly question but I haven't done tax or company accounts for quite some time.
Small one man ltd company with profit after tax of £25k for 2008. The 2007 retained LOSS was £9. I want to pay dividends of £22k. Would this be allowed as the 2008 profit is sufficient to cover the dividend, or would the dividends be limited to £25 less £9 = £16k?