Profit and Loss Accounts

Micro Entity Accounts Bundle

Micro Entity Accounts Analysis - explain the layout of the Accounts required by CompaniesHouse and HMRC. Profit and Loss Accounts - cover the first page of figures that show how the Profit or Loss has been worked out. Note 1 covers the Detailed Breakdown of company expenses. Balance Sheet Note 2 Tangible Assets Deprecation - explain how deprecation of Tangible Assets are worked out at the end of the companies trading period. Balance Sheet Notes 3 and 4 Debtors and Creditors - explain when the company incurs Debtors or Creditors and normally only reported if they 25% or more of the contract value or they have not been cleared when it's the companies year end. Balance Sheet Note 5 Called up share capital - covers both paid and un-paid shares. Balance Sheet Note 6 Profit and Loss Account - this must balance with the figure in the Profit and Loss Account page.