Closing company final ballance - quick question

Discussion in 'Accounts & Finance' started by M_M_M, Mar 7, 2018.

  1. M_M_M

    M_M_M UKBF Newcomer Free Member

    13 0
    Quick question regarding final ballance when I am closing the company. My plan is to have all the money taken out by the end of March and leave there only what needs to be paid to cover CT which I will pay straightaway anyway.

    How does my "Capital and reserves" need to look like (Creditors is obviously final CT), to show that after CT is paid that company account = 0? :

    BALANCE SHEET 2018

    Current assets 1540
    Creditors: Amounts falling due withing one year 1540
    Net current assets 0
    Total assets less current liabilities 0

    Capital and reserves 0


    OR:

    BALANCE SHEET 2018

    Current assets 1540
    Creditors: Amounts falling due withing one year 1540
    Net current assets 0
    Total assets less current liabilities 0

    Capital and reserves 1540
     
    Posted: Mar 7, 2018 By: M_M_M Member since: Mar 6, 2018
    #1
  2. Scalloway

    Scalloway UKBF Legend Free Member

    14,057 2,996
    The first one. The money in the bank matches the CT creditor.
     
    Posted: Mar 7, 2018 By: Scalloway Member since: Jun 6, 2010
    #2