CT1 Return first-timer

ParickGreen

Hi there,

I wonder if anyone could help me out. This is my first time filing CT1 form and I'm not quite sure where to put my figures.

Long story short: company has never traded, in hand is €100 for 100 shares (€1 each) paid up by Director. Balance sheet: Assets = €100, Capital and reserves = €100, Profit and Lose Account = €0.

Questions:

1. Now I don't know where can I reflect capital and reserves on CT1 form? Is it under Shareholder's Funds - positive? Is far as I know no accounts required.

2. I'm going to voluntary strike off the company and will have to submit CT1 form for the second time covering the period from beginning of my accounting period up to cessation date. Will I have to submit accounts with it at all (in iXBRL format)? There is no income, no profit, no transactions etc.

Any assistance would be greatly appreciated.

ParickGreen

Anyone?

y0ssar1an22

shareholder funds will be credit 100 (positive), with a 100 in the bank or director loan (amounts owed by director) if 100 is not paid up.

no ixbrl, i think it is option 4/5 you need to select. dormant company with shareholder funds of less than 500.

ParickGreen

With the answer you took the weight of a mountain off my shoulders.

Thank you so much!

y0ssar1an22

no problem chief. happy filing

ParickGreen

I'm in a pickle. Almost missed the deadline and still need to clarify few things.

I'm completing CT1 form and:

1. The 100 shares are reflected in the Accounts Extract as above but do I have to as well list them in other sections of the form e.g. Chargeable Assets (or Capital Gains) under Shares or is it only for other company shares that Director invested?

2. I went through banks statements again and I did lodged €600 and latter withdraw it:

€600 in, €580 out, spent €20 (paid by card). Can I count the €20 as owner draws and if so would it all come to:
(a) Amounts owed by directors (debit balance) €0

OR

€20 as a expense which will generate liability - Amounts owing to directors (credit balance) €20, and therefore Profit/Loss negative €20?

ParickGreen

If only someone could answer to the first question? Thank you.

Long Turn

ParickGreen wrote: »

If only someone could answer to the first question? Thank you.

1 is no
2 is a

ParickGreen

Thank you! I will sleep like a baby today.

Thank you to everyone for their help, time and effort.