- Original Poster
- #1
I am filling out the DCA online and am not 100% sure how to complete the part shown below relating to shares and would appreciate some advice as I am not able to find any guidance on using the form.
Ok I had 1000 shares issued in my name (as director) at incorporation at £1 each. Now the value of the shares was paid to company in the form of actual 'work done' of 100 hours at £10/hour (not as trade but setting up the company, market research, equipment and other expenses etc..) and not paid as cash into the business account.
Now when I am filling out this form it has two parts AUTHORISED and ISSUED share capital. Now I am not sure which is which. Do I put 1000 shares in both of these sections and the value as £1?
The problem with this is that the form then auto calculates the values and says the "balance sheet does not balance, shareholders funds must equal NET assets". So how do i go about correcting this?
Thanks
Ok I had 1000 shares issued in my name (as director) at incorporation at £1 each. Now the value of the shares was paid to company in the form of actual 'work done' of 100 hours at £10/hour (not as trade but setting up the company, market research, equipment and other expenses etc..) and not paid as cash into the business account.
Now when I am filling out this form it has two parts AUTHORISED and ISSUED share capital. Now I am not sure which is which. Do I put 1000 shares in both of these sections and the value as £1?
The problem with this is that the form then auto calculates the values and says the "balance sheet does not balance, shareholders funds must equal NET assets". So how do i go about correcting this?
Thanks
