- Original Poster
- #1
I setup a company 20 months ago for the sole purpose of having a company number to submit on an application for funds for exploratory product development. My company has never traded. It does not have a bank account. It has literally never seen a penny - or a penny's worth of value in any form - come in or out.
I read the following on a website which I can't post a link to as my account is too young:
...a balance sheet details the total sum of the company’s assets and liabilities at the end of the accounting period...
If you qualify as a ‘small’ company (fulfill two of the following: under 50 employees, turnover is less than £10.2m or you have less than £5.1m on your balance sheet) then you only need to submit abbreviated accounts to Companies House and these will be no more than a balance sheet that’s signed by a named director.
Can I really just create a letterhead, put "Assets: nil; Liabilities: nil" and sign it and that will do?
I read the following on a website which I can't post a link to as my account is too young:
...a balance sheet details the total sum of the company’s assets and liabilities at the end of the accounting period...
If you qualify as a ‘small’ company (fulfill two of the following: under 50 employees, turnover is less than £10.2m or you have less than £5.1m on your balance sheet) then you only need to submit abbreviated accounts to Companies House and these will be no more than a balance sheet that’s signed by a named director.
