Year End Accounts

maureen cassidy
maureen cassidy New MemberRegistered Posts: 7
Hi All - please could someone give me some advice.

My partner is just about to submit his first set of accounts covering a 15 month period. He is the only person who works for the company on a part time basis (at the moment) and does not draw a wage. He works from home and there are no real assets, most of his time is computer time, apart from when he is popping out to see a client.

Therefore I guess all we need to produce is a profit and loss account listing his sales - any expenses. The only problem is - is that he paid the expenses privatley and has not yet claimed them back from the company. His year end was December - is he too late to claim these expenses back? They mainly consisted of vehicle rental, private mileage and the odd client meal.

Hope someone can guide me as to setting out his P&L based on the above.

Many Thanks
Moe

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