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Unaudited Accounts and Management Account

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

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dontworry
Newbie
Posts: 41
Joined: Fri May 25, 2012 3:04 pm
Location: United Kingdom

Unaudited Accounts and Management Account

Post by dontworry » Sun May 21, 2017 7:24 am

Dear Gurus,

My Visa is expiring by end of this month.

I started the business in June 2013 when I was in PSW. The initial investment was £15,000 and shown this on my Initial Application.

Accountant has done unaudited account for The year 2017(Year ending 2016-2017 Feb 28)
the total investment on that date is £49,500.(Feb 2017)
And I have transferred another £5,000 this month

When I asked Management account for rest of the period(1 March to 15 May), He said you don't need it.
He suggested me to do a Directors Loan agreement on the date of 5,000 transferred.
Show 50,00 Loan agreement and the add line "This supersedes all previous loan agreements."

I am not sure is this the right thing to do.

I am not showing any bank statement for previous investment, as it is already shown on initial application

Please Help

Kind Regards
R K

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zimba
Moderator
Posts: 20155
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
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Re: Unaudited Accounts and Management Account

Post by zimba » Sun May 21, 2017 2:59 pm

Your accounts must show full 50K investment under your name plus the DL agreement for award of points.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

dontworry
Newbie
Posts: 41
Joined: Fri May 25, 2012 3:04 pm
Location: United Kingdom

Re: Unaudited Accounts and Management Account

Post by dontworry » Sun May 21, 2017 6:46 pm

As always,

Thanks Zimba

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