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Directors loan in annual account

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babaty2k02
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Posts: 258
Joined: Sun Jul 28, 2013 9:34 am
Nigeria

Directors loan in annual account

Post by babaty2k02 » Sun Aug 21, 2016 12:15 am

Good day guys.

Could someone please help clarify how the Director Loan item should appear in the account under Notes.

Is it just
1. Director's Loan £xx,xxx, Or
2. Director's Loan for Mr XYZ (My Name) £xx,xxx

I have asked my accountant and he said we cannot show the name alongside Director's Loan Account (as in 2 above), as it had already been mentioned as a named Director and 100% shareholder.

Also (just to avoid creating another topic, I'll just squeeze the question here), in the Annual Accounts, I have signed the Director's Report page and the Balance Sheet page. Are we required to sign any other page, like the Profit & Loss page?

I shall appreciate your contribution(s)

Mrchaany
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Posts: 533
Joined: Sun Jun 23, 2013 10:52 pm
Location: Reading
Contact:

Re: Directors loan in annual account

Post by Mrchaany » Sun Aug 21, 2016 8:26 am

Till your accountant to put your name under director
Loan section otherwise ukvi will not accepted investment points
Regards
Ik
Strong commitment, extreme faith and honesty will recognize your existence.

babaty2k02
Member of Standing
Posts: 258
Joined: Sun Jul 28, 2013 9:34 am
Nigeria

Re: Directors loan in annual account

Post by babaty2k02 » Sun Aug 21, 2016 9:55 am

Business2business wrote:Till your accountant to put your name under director
Loan section otherwise ukvi will not accepted investment points
Regards
Ik
Thanks for the response.

Is it in the NOTES of Director's loan Accounts or In the Director's loan section of the main account?

Mrchaany
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Posts: 533
Joined: Sun Jun 23, 2013 10:52 pm
Location: Reading
Contact:

Re: Directors loan in annual account

Post by Mrchaany » Sun Aug 21, 2016 10:10 am

Under other creditor section your accountant need to make director loan subsection
Strong commitment, extreme faith and honesty will recognize your existence.

itpba
Junior Member
Posts: 86
Joined: Mon May 16, 2016 8:54 pm

Re: Directors loan in annual account

Post by itpba » Sun Aug 21, 2016 11:11 am

Business2business wrote:Under other creditor section your accountant need to make director loan subsection
thanks for your advice, there are 2 places where you find OTHER CREDITORS (1) balance sheet (2) NOTES. where is accountant supposed to make subsection ( Director Loan) ? in Our case accountant say he cant add anything to balance sheet as its pre-loaded by software although in the Notes section under OTHER CREDITORS he wrote a note saying " Other creditors include unsecured director loan of 52K " without director names but in the next note below he mentions that Mr A and Mr B are 50% shareholders.. hope this is acceptable by HO.pls share your views.Regards

babaty2k02
Member of Standing
Posts: 258
Joined: Sun Jul 28, 2013 9:34 am
Nigeria

Re: Directors loan in annual account

Post by babaty2k02 » Mon Aug 22, 2016 10:45 am

Business2business wrote:Under other creditor section your accountant need to make director loan subsection
Thank you for your response.
Please I still need specific clarificatiions.
In the accounts, there are two lines for CREDITORS:

1. Creditors: Amount falling due within one year

2. Creditors: Amount falling due after one year

Under which will the Director's Loan Account appear? This is my confusion.

Thank you.

ukbusiness2016
Junior Member
Posts: 73
Joined: Wed May 18, 2016 11:18 am

Re: Directors loan in annual account

Post by ukbusiness2016 » Tue Aug 23, 2016 9:13 am

babaty2k02 wrote:
Business2business wrote:Under other creditor section your accountant need to make director loan subsection
Thank you for your response.
Please I still need specific clarificatiions.
In the accounts, there are two lines for CREDITORS:

1. Creditors: Amount falling due within one year

2. Creditors: Amount falling due after one year

Under which will the Director's Loan Account appear? This is my confusion.

Thank you.
What is the duration of your directors loan agreement? Does the agreement period end within a year or does it stay valid for longer? Depending on your response to the question you know which header to put it under.

On a side note, if your accountant does not know this and you have to ask for help then I recommend changing your accountant.

babaty2k02
Member of Standing
Posts: 258
Joined: Sun Jul 28, 2013 9:34 am
Nigeria

Re: Directors loan in annual account

Post by babaty2k02 » Tue Aug 23, 2016 10:14 pm

ukbusiness2016 wrote:
babaty2k02 wrote:
Business2business wrote:Under other creditor section your accountant need to make director loan subsection
Thank you for your response.
Please I still need specific clarificatiions.
In the accounts, there are two lines for CREDITORS:

1. Creditors: Amount falling due within one year

2. Creditors: Amount falling due after one year

Under which will the Director's Loan Account appear? This is my confusion.

Thank you.
What is the duration of your directors loan agreement? Does the agreement period end within a year or does it stay valid for longer? Depending on your response to the question you know which header to put it under.

On a side note, if your accountant does not know this and you have to ask for help then I recommend changing your accountant.

Thank you.

jon99
Newly Registered
Posts: 2
Joined: Wed Aug 24, 2016 2:08 am

Re: Directors loan in annual account

Post by jon99 » Wed Aug 24, 2016 2:19 am

hye guys,
I am new here but do read post regularly.MY TIER1 ENTRE EXTENSION is due in March 2nd 2017 while my ten yrs will complete end of August.I heard HO reply bk qickly and if they do then they break the time period by refusal.Could someone please instruct me how to spent period of 5month if any diificulty come in extension or its coverable not a problem.I will be thanful to you for your cooperation.ta

ukbusiness2016
Junior Member
Posts: 73
Joined: Wed May 18, 2016 11:18 am

Re: Directors loan in annual account

Post by ukbusiness2016 » Wed Aug 24, 2016 11:02 am

jon99 wrote:hye guys,
I am new here but do read post regularly.MY TIER1 ENTRE EXTENSION is due in March 2nd 2017 while my ten yrs will complete end of August.I heard HO reply bk qickly and if they do then they break the time period by refusal.Could someone please instruct me how to spent period of 5month if any diificulty come in extension or its coverable not a problem.I will be thanful to you for your cooperation.ta
Hi,

Firstly, thinking that the UKVI will refuse your visa to break your time period is incorrect. They will only refuse your visa if your documentation is incorrect or if you fail to meet the requirements.

As long as you meet all the extension requirements and your documents support it then you have nothing to worry about.

jon99
Newly Registered
Posts: 2
Joined: Wed Aug 24, 2016 2:08 am

Re: Directors loan in annual account

Post by jon99 » Wed Aug 24, 2016 8:54 pm

thx for reply I was just wondering few friends of mine had extension in April this year and they had only gap of 3month to cover ten years.So they just apply for extension without fullfilling reqirements and finally they withdraw extension application and applied for ten year long residency.

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