Property Company Accounts - what do they look like? Micro Company Accounts - What are they?

[@DavidWEvans1]

Nice job!

[@kimberleyshapcottpropertytax]

Thanks!

[@ammadhabib7099]

Thankyou Kimberly, this was very useful for me .

[@kimberleyshapcottpropertytax]

You are so welcome!

[@qutaybaalmerie683]

Great work. Thanks for the video

[@kimberleyshapcottpropertytax]

Glad you liked it!

[@DavidSmith-qn8fl]

Thanks for showing this clear example. 👍

[@kimberleyshapcottpropertytax]

You are welcome!

[@filipo317]

With FRS105 do I depriciate the value of the building?

[@nikkion2140]

Thank You. Very informative.

[@kimberleyshapcottpropertytax]

You are welcome!

[@johnporcella2375]

Just for clarification...what is to stop the property owning company getting a revaluation to get a bigger mortgage, but keeping the value in the micro-accounts at historic cost? Or perhaps keeping them at HC in the accounts, with a note to the accounts of the new values?

[@kimberleyshapcottpropertytax]

In these type of accounts you are not allowed to revalue therefore they will always be shown on the balance sheet as the historic values. It doesn't stop you adding additional disclosure to show the true value. It will depend partly on what the lender is happy with.

[@dropadamate]

Would this have any real impact on your potential borrowing? Or is any remortgaging just down to what the surveyor values it to be worth? Also can you disclose as a micro company one year and a small company another year? Thanks!

[@nikkion2140]

How to get in touch for your service?

[@kimberleyshapcottpropertytax]

Contact us at www.shapcotts-accountants.co.uk

[@NadeemAbbas-s7v]

its 632000 i think

[@waqarehsan]

I dont know where you get your Micro companies limits from. Definately not the Companies house :)

[@kimberleyshapcottpropertytax]

Your company will be a micro-entity if it has any 2 of the following: a turnover of £632,000 or less. £316,000 or less on its balance sheet. 10 employees or less.