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Startups

Hi Alex, learning how to code is always a good decision. So, kudos for that! Depending on the kind of startup you are looking to build, software development could come in handy, especially in building and testing your minimum viable product or MVP. If you are not in any particular hurry, I'd recommend dedicating the next couple of years to learning software development and validating your ideas. Talk to people about what you are building, try to see if there's demand and if there is, you can start making an actual product. Also, try to find collaborators or prospective co-founders.... (More)

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Hi Emily,

You would prepare your accounts with a statement instead of the P/L stating that you had no transactions in the period.

You would still need to show a balance sheet which will probably show (assuming you incorporated with £1)

Assets

Debtors - £1


Equity

share capital - £1

I assume your business is a micro-entity (based on no transactions and presumably no employees)

This would mean your accounts should be prepared under the correct standard - I would check out this page (think they may have example accounts somewhere)

https://www.gov.uk/annual-accounts/microentities-small-and-dormant-companies36

Hope this helps & good luck with the... (More)