Maybe a stupid question but.....

mastrypuncher Registered Posts: 19 Dedicated contributor 🌟 🐵 🌟
I havent done any LTD Co accounts from scratch before so this question may sound a bit nieve but what source documents do you generally ask for when individuals are just going into business as a LTD Co? For example I have a potential client who set up his own roofing business a year ago but has had very little work up until the last couple of months. He has been getting by doing small jobs and some of the materials he has used have been paid for by his girlfriend! Would you be getting personal bank statements from both of them? Or simply refund the girlfriend when there is enough money in the business?

I have never worked in practice just in manufacturing industry so have never dealt with startups before.

As a checklist then, what paperwork/info do you generally ask for new starts when no previous working papers are available?


  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Your going to need company bank statements plus invoices and receipts. Expense clais for things paid personally by directors.

    Really things should be paid for by the company or the directors loan the company money through their DLA.

    Need list of debtors and creditors or the info to be able to work it out.

    Details of any stock and WIP.

  • paulstafford
    paulstafford Registered Posts: 126 🎆 🐘 🎆
    Stat books

    Probably worth getting hold of his statutory books to check to see if these are in order.

    For example:

    Who are the directors of the company?

    How many ( if any) shares have been purchased?

    Has he filed the relevant forms with Companies House?
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