Filing companies house return & accounts : How to amend the capital share?

SarahPink

Hi all,

I am trying to file my account but I have an issue with the amendment of the Number of Share, Amount paid up on each share, and Aggregate nominal value.

If for 2012, my "Called up share capital" was £10000 and the "Profit and loss account" was -£9400 that means for 2012 the shareholders's funds was £10000-£9400=£600.

So, I would like to know : for the next year (2013) if it is right that the "Called up share capital" to be £600 instead of £10000 (there is no cash anymore in the business account)?

As a result, in filing my return can I change the values "Number of Share" = £10000, "Amount paid up on each share" = £10000, and "Aggregate nominal value" = £10000 to "Number of Share" = £600, "Amount paid up on each share" = £600, and "Aggregate nominal value" = £600 ?

Thanks in advance for your help,

Sarah

Atidi

SarahPink wrote: »

Hi all,

I am trying to file my account but I have an issue with the amendment of the Number of Share, Amount paid up on each share, and Aggregate nominal value.

If for 2012, my "Called up share capital" was £10000 and the "Profit and loss account" was -£9400 that means for 2012 the shareholders's funds was £10000-£9400=£600.

So, I would like to know : for the next year (2013) if it is right that the "Called up share capital" to be £600 instead of £10000 (there is no cash anymore in the business account)?

As a result, in filing my return can I change the values "Number of Share" = £10000, "Amount paid up on each share" = £10000, and "Aggregate nominal value" = £10000 to "Number of Share" = £600, "Amount paid up on each share" = £600, and "Aggregate nominal value" = £600 ?

Thanks in advance for your help,

Sarah

The share capital is what it is, whether that be paid up, called up or simply allotted.

You then need to reflect the profit or loss on the Balance sheet.

So in your example, quite simply:

Share capital £10,000
Profit/Loss (£9400)

Total shareholders funds £600

(Details of the share capital should be included in the notes to the accounts)



Edit:
But get yourself independent professional advice, as I'm not sure your figures are correct. Or if they are, it would appear you have acted illegally. :eek:
https://forums.moneysavingexpert.com/discussion/4806036

scragend

SarahPink wrote: »

Hi all,

I am trying to file my account but I have an issue with the amendment of the Number of Share, Amount paid up on each share, and Aggregate nominal value.

If for 2012, my "Called up share capital" was £10000 and the "Profit and loss account" was -£9400 that means for 2012 the shareholders's funds was £10000-£9400=£600.

So, I would like to know : for the next year (2013) if it is right that the "Called up share capital" to be £600 instead of £10000 (there is no cash anymore in the business account)?

As a result, in filing my return can I change the values "Number of Share" = £10000, "Amount paid up on each share" = £10000, and "Aggregate nominal value" = £10000 to "Number of Share" = £600, "Amount paid up on each share" = £600, and "Aggregate nominal value" = £600 ?

Thanks in advance for your help,

Sarah

NO NO NO,

You are not right at all.

As Atidi says, what you have is share capital of £10,000 and a negative profit & loss reserve of £9,400. This does give you net shareholders' funds of £600, but the two elements are separate.

The only way your share capital could reduce would be if the company buys back/cancels some of its own shares (very unlikely).

Likewise, if you had made a profit of £9,400 instead of a loss, you would have share capital of £10,000 and a profit & loss reserve of £9,400. You would not have £19,400 of share capital.

SarahPink

scragend wrote: »

NO NO NO,

You are not right at all.

As Atidi says, what you have is share capital of £10,000 and a negative profit & loss reserve of £9,400. This does give you net shareholders' funds of £600, but the two elements are separate.

The only way your share capital could reduce would be if the company buys back/cancels some of its own shares (very unlikely).

Likewise, if you had made a profit of £9,400 instead of a loss, you would have share capital of £10,000 and a profit & loss reserve of £9,400. You would not have £19,400 of share capital.

I am worry since I was granted by a solicitor an emergency Legal Aid one month ago based on the information I provided at that time. However, few days ago he came back to me saying that I need to now show that I have no savings or capital and that I am not a company director of a company with substantial assets.