R
richard256
- Original Poster
- #1
Hi. I'm making out form AA02 which is the form you make out for Dormant Company Accounts (DCA).
My firm is not trading yet, but I don't want to make a mistake with the shares situation. As yet I don't even have a bank account associated with the firm. Now, the firm is supposed to be issuing 10 ordinary shares of £1 each, that's what I said when I registered the firm.
Can my balance sheet be £0? Or does it have to be £10? If it was £0, would that represent called up share capital not paid - £10, and cash at bank and in hand - £0. In other words, as the only shareholder, I've simply not placed my £10 share capital into the firm yet. Is that OK for form AA02? Thanks.
P.S. If the balance sheet must have £10 as assets, then I must have put £10 into a cash box and recorded it as the firm's share capital. Or, perhaps £10 has been issued, but not come in yet and on paper the firm has £10 of assets. Just not entirely sure whether the balance sheet should be £0 or £10.
I notice this rule for dormant accounts: "..the only transaction entered in the accounting records of the company is the issue of subscriber shares"
My firm is not trading yet, but I don't want to make a mistake with the shares situation. As yet I don't even have a bank account associated with the firm. Now, the firm is supposed to be issuing 10 ordinary shares of £1 each, that's what I said when I registered the firm.
Can my balance sheet be £0? Or does it have to be £10? If it was £0, would that represent called up share capital not paid - £10, and cash at bank and in hand - £0. In other words, as the only shareholder, I've simply not placed my £10 share capital into the firm yet. Is that OK for form AA02? Thanks.
P.S. If the balance sheet must have £10 as assets, then I must have put £10 into a cash box and recorded it as the firm's share capital. Or, perhaps £10 has been issued, but not come in yet and on paper the firm has £10 of assets. Just not entirely sure whether the balance sheet should be £0 or £10.
I notice this rule for dormant accounts: "..the only transaction entered in the accounting records of the company is the issue of subscriber shares"
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