Private company limited by guarantee

mahdi87
mahdi87 Registered Posts: 121 ? ? ?
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 :lol:

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!!!
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