Deficiency of assets

A solution for future years is to use an accounting package. I use Quickbooks and doing the accounts is a doddle.

I am the owner of a small limited company with a turnover of less than

Previously my accountants submitted my accounts to Companies House. Last year I decided to submit them myself. I was reasonably happy that they were OK.

However, I received a letter from Companies House stating that there was an addition error on the balance sheet. "The figure for deficiency of assets (xxxx) is incorrect".

When I calculated the deficiency of assets I must admit I wasn't exactly sure how my accountant arrived at the figures.

I need to submit revised accounts to Companies House in respect of this. I do not wish to return to my original accountants.

I am prepared to pay for some qualified person to look at my balance sheets and calculate the correct figure.

If anyone is interested they can email me at quoting how much this will cost me. Or alternatively leave a telephone number as a reply to this posting and I will contact them in return.

Thank you.

Paul Price

How could you be "reasonably happy that they were OK", if you hadn't even checked to see if they add up?

It is not uncommon for small companies to trade when they are insolvent, as yours seems to be, but it can be unlawful. Presumably the negative equity arises from a loan by you to the company - which the company has spent?

QuickBooks won't produce statutory accounts.

You need an accountant to do your statutory accounts.