Accounts for Limited company with rental income only

Ellabobbin

Hello

I hope everyoone survived January!

I have a Limited company client who only has rental income.

I am completely comfortable with the tax treatment of the income (and where to pop the entries in the CT600). I have made the appropriate adjustments for the investment properties in line with the accounting standards. I have a balance sheet which I am happy with but how the P&L should look is causing me some concern.

Is anyone able to share how they would present this in the accounts - would you show the net income in 'other income' as rental income or would you show the income and then expenditure as you would for a trading company?

A template would be amazing :-)

Very grateful for any comments

Ellabobbin

Norvydas

@Ellabobbin

You would show rent income as you would for normal trading company. Of course your sales would be Rent Income, and then expenditure as normal.

I.e.

Income;

Rent Received

Expenditure;

R&R
Rent&Rates
Etc etc..

reader

Are you using FRS102 or 105? And why did you choose that particular standard?