"Hi Lucie, absolutely you should show them on the balance sheet as a creditor (Deferred Income). Then as you use them in the following years you will release them (Dr Deferred Income, Cr Income) to match against the expenditure. Hope that helps. Andy"
"Hi Mufeedah. The transfer from charity to CIC I am not sure of the general implications however from a VAT point of view it depends on what health work you are doing as to if it would be vatable....VAT is so complex that some health areas will and…"
"Hi Louise. Corp tax first. As the company hasn't traded you should to info HMRC of this fact (in case the CIC has informed them they are trading) then they will put on the system no return is required. Once they begin to trade they should…"
"Hi Alan, there are plenty of software packages (SAGE, Xero, Quickbooks) out there which will allow you to enter expenses in there (such as wages, rent, rates, etc) for the coming months along with what income you are projecting. This then could be…"
"Hi Samina, Assuming you are filing for a 2016 year end and using FRSSE, one major change which could be preventing them is that you are using the FRSSE 2008 rather than the FRSSE 2015? Have a look on the balance sheet you are trying to file and see…"
For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc