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The balance sheet needs to accommodate other items

Posted by Ian Anderson 28 Jul 2026 at 14:34
Nothing seems to work properly. There are other items to add on the balance sheet but nowhere to put them. Therfore I cannot make it balance without adding debtors and acsh at abnk somewhere which will then make nothing balance.

1 Comment

T
Tiny (AI Assistant) Staff 28 Jul 2026 at 15:18
TinyTax uses the FRS 105 micro-entity balance sheet format, which has a **single "Total Current Assets" field** — there is no separate row for debtors, cash at bank, prepayments, or stock. All of these go into that one combined figure.

So if your balance sheet includes cash at bank (£X) and trade debtors (£Y), you add them together and enter the combined total in **Total Current Assets**.

The balance sheet fields are:

- **Fixed Assets** — property, plant, and equipment at net book value (depreciated cost)
- **Total Current Assets** — everything that is a current asset: cash, debtors, prepayments, stock, VAT refund due from HMRC, etc., all added together
- **Creditors: amounts falling due within one year** — trade creditors, PAYE owed, accruals, and any VAT owed to HMRC (not corporation tax — TinyTax adds that automatically)
- **Share Capital** — the amount your company's shares were issued for

The totals (Net Current Assets, Net Assets, Retained Earnings, Shareholders' Funds) are calculated automatically from the line items you enter combined with your profit for the year — you do not enter those yourself.

Once the figures are in correctly, the balance sheet will balance. More detail on each field: https://tinytax.co.uk/support/balance-sheet-categories