We qualify for micro accounts and I have submitted the balance sheet to companies house. I am half way through the HMRC tax return.
My question relates to their classification of cost on their summarised P&L.
They ask for the costs to be split between these categories (I have excluded depreciation as it does not apply).
Box AC410 Cost of raw materials and consumables
Box AC415 Staff costs
I can find any guidance on their website or FRS 105 on what should go in which box. Can anyone offer some guidance?
My understanding is that Box AC415 is all about stock costs - we don't have stock as we provide consultancy.
We don't have any employees or salary costs as we use subcontractors for everything so should Box AC415 be empty too or should sub contractor labour go in there?
So that will basically have everything going in Other charges. Does that sound right?