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Emily M.
Entrepreneur
Asked a question 4 months ago

Hi all! I registered my limited company with Companies House last year and my year end accounts are due in a couple of months. My startup hasn't had any financial transactions yet, so there is nothing to report. How do I prepare accounts when I have nothing to report? If you've been in this situation before, how did you go about preparing your accounts? My company isn't dormant though. I just don't have any transactions for that accounting period.

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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-companies37

Hope this helps & good luck with the start-up - feel free to check in here on any other accounting questions

Luke 

 

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