I will be filing the first micro-entity corporation tax return for my limited company that has not yet received any revenue.
I currently have approximately £1,500 of fixed assets, £800 of paid expenses, and a subsequent DLA under Long Term Creditors at £2,300. Where do I account for the £800 of paid expenses on the balance sheet? Without them, it's unbalanced... total assets (£1,500) is less than liabilities (£2,300) plus capital and reserves (£0).
The books and tutorials seem to be very unclear on this. I'm not an accountant and apologies if this is a fairly basic question. Do I file them as assets??
Many thanks in advance.