Private company limited by guarantee

mahdi87

Hi there,

Just picked up a client Private company limited by guarantee? its only a Co that looks after Freehold four flats receives Service charges from the flats and pays building insurance and repairs, what do i do when there is scenario where it makes profit ie the service charges received is more than the expenses! I think its going to be the case next year!! as they increased the SG

also this year is there 2nd accounts and in the first year the value of the freehold was 80k and the old accountant debited FA freehold and credited the P&L reseve a/c! is that correct? he never entered the bank too the Co had one! so I have and op bal and I dunno where I am going to credit that balance!!!