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Andrew Fleet
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Andrew Fleet replied to Louise poor's discussion expenses, what goes where? in the group Accounts Group
"Hi Louise, Based on what the CIC does, I am thinking direct costs/cost of sales.  However, make sure there are no capital expenses in there which would need to go to the balance sheet and be depreciated. Hope that helps? Andy"
Wednesday
Andrew Fleet replied to Lucie Brooke's discussion Tax return in the group Accounts Group
"Hi Lucie, as Heidi says you will need software to do this and £150+VAT is a very good price for piece of mind knowing it has been submitted correctly. Thanks, Andy"
Feb 12
Andrew Fleet replied to Liz Reynolds's discussion corporation tax / grants/ euros / turnover in the group Accounts Group
"Hi Liz, In the case of the CIC what I believe would be the turnover (based on the fact I haven't prepared the accounts) would be: Income received in the year for services delivered in the year, together with Income received from grants which…"
Dec 19, 2017
Andrew Fleet replied to Liz Reynolds's discussion corporation tax / grants/ euros / turnover in the group Accounts Group
"Hi Liz, I think I have this right but please tell me if I have misunderstood. The turnover you will use on the Corp Tax reporting to HMRC will be the one used on the company accounts. However if you mean profit then for HMRC they want to see…"
Dec 15, 2017
Andrew Fleet replied to Lucie Brooke's discussion Grant funds balance sheet in the group Accounts Group
"The funds have been given to you to spend but have a caveat on them as to what they can be spent on. This shouldn't affect the accounting treatment we mentioned before."
Dec 11, 2017
Andrew Fleet replied to Lucie Brooke's discussion Grant funds balance sheet in the group Accounts Group
"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"
Dec 11, 2017
Andrew Fleet replied to Mufeedah Bustin's discussion VAT advice in the group Accounts Group
"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…"
Aug 16, 2017
Andrew Fleet replied to Louise poor's discussion Dormant accounts for first year of trading in the group Accounts Group
"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…"
Aug 16, 2017
Andrew Fleet replied to Allan Craig Muirhead's discussion Cash flow forecasting in the group Accounts Group
"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…"
May 3, 2017
Andrew Fleet replied to Samina Noor Deen's discussion Accounts Format in the group Accounts Group
"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…"
Feb 9, 2017
Andrew Fleet updated their profile
Nov 8, 2016
Andrew Fleet joined Heidi Fisher's group
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Accounts Group

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
Nov 7, 2016
Andrew Fleet is now a member of CIC Association
May 24, 2016

Profile Information

What is your postcode?
SK14 4EH
Name of organisation (if any) you are associated with?
AJ Fleet and Co Limited
Is that organisation a CIC?
No
If you have a website, what is your web address?
http://www.ajfleetandco.co.uk
Are you interested in working in partnership with the CIC Association?
Yes

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