Explanation of note for Fixed Assets on abbrev accounts

[matt2012]

Hello,

I am sorry if this has been asked before but after an afternoon of Googling I cannot find it.

I'm filing my abbreviated accounts and for the fixed assets (both intangible and tangible) I'm not sure what to put in for each part of the note (i.e. Cost: additions, disposals etc.; amortisation: charge for the year etc.). This is my first set of accounts as I'm sure you can tell!

Thanks,
Matt

[Midland White]

Hello,

I am sorry if this has been asked before but after an afternoon of Googling I cannot find it.

I'm filing my abbreviated accounts and for the fixed assets (both intangible and tangible) I'm not sure what to put in for each part of the note (i.e. Cost: additions, disposals etc.; amortisation: charge for the year etc.). This is my first set of accounts as I'm sure you can tell!

Thanks,
Matt

No disrespect but it sounds like you really shouldn't be tackling it - rather one for the accounting profession. A false economy really.

[SarahL2012]

No disrespect but it sounds like you really shouldn't be tackling it - rather one for the accounting profession. A false economy really.

I agree! How are you planning on doing your corporation tax calculations? On your own as well?? If you are struggling with the fixed asset note in the accounts then I think that's going to be a bit tough. Accountants aren't that expensive considering the trouble you could get yourself into doing it on your own.

[Alan @ BroomeAffinity]

The Fixed Asset note is normally a table of the assets in defined classes broken down into cost b/fwd, additions, disposals, depreciation, depreciation written off in disposals, net book value etc. Easy if you know how, less so if you don't.