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Unaudited accounts/management accounts query

Only for UK Tier 1 (Entrepreneur) points system

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thutmose
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Bangladesh

Unaudited accounts/management accounts query

Post by thutmose » Tue Mar 29, 2016 9:51 am

My account year end is 28/02 every year. My accountant is preparing the 3rd one for the year ended 28/02/2016.

Now I am planning to apply for my extension either on the last week of may or the first week of June.

The policy guidance don't really say how old the account can be. And my accounts won't be management accounts they will be full submitted accounts as on the companies house.

Is there any chance that HO is gonna say oh this accounts are too old, not within 3 months hence you don't score points on investment?


Thanks

Mrchaany
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Re: Unaudited accounts/management accounts query

Post by Mrchaany » Tue Mar 29, 2016 10:12 am

no problem
there is no requirement by UKVI, the only three months old documents they want is Current Appointment report and Personal Bank statements for Maintenance.

regards
IK

hellostar
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Re: Unaudited accounts/management accounts query

Post by hellostar » Tue Mar 29, 2016 5:28 pm

Business2business wrote: by Business2business » Tue Mar 29, 2016 10:12 am

no problem
there is no requirement by UKVI, the only three months old documents they want is Current Appointment report and Personal Bank statements for Maintenance.

What does this mean """"(the only three months old documents they want is Current Appointment report)"""
I think you meant to say that the current appointment report shouldnt be three months old when you applied as e.g i am applying tomorrow and my current appointment report dated on 3rd of feb 2016
let me know if i am wrong?

Mrchaany
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Re: Unaudited accounts/management accounts query

Post by Mrchaany » Tue Mar 29, 2016 6:14 pm

yes

sorry for any inconvenience
for example if some one apply tomorrow their current appointment wil be not older then three months.

thutmose
Junior Member
Posts: 99
Joined: Sun Jan 31, 2016 8:47 pm
Bangladesh

Re: Unaudited accounts/management accounts query

Post by thutmose » Wed Mar 30, 2016 10:07 am

Well my annual account is showing 50k share capital from the first year and I have my share certificate from that year too, even I have submitted the share certificate with the initial application. If no time limit applies then I can technically only send the YE 28.02.2014 annual account. Although I wanna send all three.


From the policy guidance ''Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with an accounts compilation
report from a suitably regulated accountant.''

It seems like they are asking to provide management accounts, why would I do that if I have actual full accounts!

I would really appreciate if someone can clarify this matter.

Thanks

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Zimba
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Re: Unaudited accounts/management accounts query

Post by Zimba » Wed Mar 30, 2016 11:08 am

thutmose wrote:From the policy guidance ''Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with an accounts compilation
report from a suitably regulated accountant.''

It seems like they are asking to provide management accounts, why would I do that if I have actual full accounts!

I would really appreciate if someone can clarify this matter.

Thanks
No they are not asking you to submit management accounts. You submit interim accounts if your annual accounts do not cover the full investment. Since your annual account covers your investment, you do not need a management account.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

thebestman
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Re: Unaudited accounts/management accounts query

Post by thebestman » Fri Jul 08, 2016 11:38 am

Hi Zimba

We have company annual accounts for three years prepared for filing with HMRC, can we submit the same for the visa extension?

In our case we have raised 100k in funding from external investors, including 50k from a VC firm. Our accounts are not showing specifically the name and amount we have raised from investors. However the guidance notes are saying that we should have this information in the accounts.

How we can add them? Is it ok to add them as accountants notes or we need to have something more specific?

Thanks in advance

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Zimba
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Re: Unaudited accounts/management accounts query

Post by Zimba » Fri Jul 08, 2016 1:15 pm

thebestman wrote:Hi Zimba

We have company annual accounts for three years prepared for filing with HMRC, can we submit the same for the visa extension?

In our case we have raised 100k in funding from external investors, including 50k from a VC firm. Our accounts are not showing specifically the name and amount we have raised from investors. However the guidance notes are saying that we should have this information in the accounts.

How we can add them? Is it ok to add them as accountants notes or we need to have something more specific?

Thanks in advance
You need to have this information added to the accounts notes that the money is made available to you Mr/s XYZ director of the company. Ask your accountant to do this.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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