• for called up share capital not paid I just put a quid because I (the only shareholder) have one share at a quid, and I didn't pay my company for it - ok?

    then i've just left of all the stuff about deferred and accrued income for simplicity, and i've put total fixed assets at 0 (no property or machinery etc.) total current assets = my company's bank balance on the final day of the accounting period.

    liabilities are 0

    but the autocalculate box for Total net assets (liabilities) is just showing as 1, which i don't get.

    and i assume Capital and reserves should be the same as my bank balance on the final day of the accounting period?

  • Assets and liabilities need to balance. You have £1 share capital, which is a liability (rather assets = liabilities + equity).

    Usually, this would be paid up - i.e an asset of £1 in cash.

    As it's not paid, there is asset of the £1 debt.

    (A quick google suggests that you can have an exolicit balance sheet item for called up share capital not paid - the £1 in this case)

    NB IANAA

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