RMA-A Balance sheet
1. Intangible assets
Intangible assets are not physical in nature. Examples include copyrights, patents, intellectual property and goodwill. Firms that report an intangible assets figure (1B RMA-A) should remember to deduct this amount when calculating their total capital resources (30A or 36A RMA-D). As these cannot be realised instantaneously, they cannot be included as part of a firm’s capital resource.
2. Tangible assets
Assets that have physical substance and for which an approximate value can be attached. Examples include buildings, equipment, furniture and motor vehicles.
Investments that cannot be turned into cash within 90 days.
4. Total fixed assets
The sum of intangible assets (1B) + Tangible assets (2B) + Investments (3B)
All stocks that are expected to be realised in cash, sold or consumed within the current financial year.
Total realisable debts owed to your firm by other firms and individuals.
Recoverable and Readily Realisable Debtors: Monies owed to the firm must be recoverable and readily realisable, ie. they can be turned into cash with 90 days. If a firm has reason to doubt that a debt may not be repaid in full or not paid at all, or that it will take a significant time to recover, then these should be excluded.
7. Investments held as current assets
All investments that are expected to be realised in cash, sold or consumed within the current financial year.
8. Cash in hand at bank
Amount of cash in business accounts. This is the bank balance as of the reporting period end date. Please note that if a firm is currently using an overdraft facility, the figure recorded here should be 0 (zero) and the amount owed on the overdraft should be recorded in bank loans and overdrafts (11A).
9. Other assets
All other assets that are expected to be realised in cash, sold or consumed within the current financial year.
10. Total current assets
The sum of stocks (5A) + debtors (6A) + investments held as current assets (7A) + cash in hand at bank (8A) + other assets (9A).
Liabilities: amounts falling due within one year
11. Bank loans and overdrafts
Insert the total of all bank loans and overdrafts that are repayable within one year (client money should not be included either in this box or anywhere else on the firm's balance sheet).
12. Other liabilities falling due within one year
These are liabilities that are expected to be paid within one year. Examples of this include creditors, unpaid bills and unpaid claw back commission.
13. Total liabilities falling due within one year
The sum of bank loans and overdrafts (11A) + other liabilities falling due within one year (12A).
14. Net current assets
This figure must be: total current assets (10A) - total liabilities falling due within one year (13A).
15. Total assets less current liabilities
This figure must be: net current assets (14B) + total fixed assets (4B).
16. Other liabilities falling due after more than one year
These are long-term liabilities. Examples of this include a mortgage or bank loans that are due to be repaid after more than one year and subordinated loans.
17. Provisions for liabilities and charges
This is money that is held to pay for something in the future, but the exact amount and timing of the payment is unclear.
18. Net assets
This is the net current capital position of the firm. This figure should be calculated using the following formula: total assets less current liabilities (15B) - other liabilities falling due after more than one year (16B) - provisions for liabilities and charges (17B).
19. Memo (guarantees provided by firm)
This is the total value of guarantees provided by the firm to cover the indebtedness of other persons or entities.
20. Ordinary share capital
The face value of shares that have been issued and for which cash has been received.
21. Preference share capital
The face value of shares that have been issued and for which cash has been received, and have preferential rights over the holders of ordinary shares.
22. Share premium account
The difference between the cash received in exchange for ordinary share capital and the face value of the shares issued.
23. Profit and loss account
The accumulation of all previously retained profits/losses since the birth of the firm.
24. Other reserves
Any other reserves not already covered by the previous headings - an example would be revaluation reserves.
25. Total capital and reserves
This is the total capital and reserves at the firm. This figure is the total of ordinary share capital (20A) + preference share capital (21A) + share premium account (22A) + profit and loss account (23A) + other reserves (24A).
Please note that this figure must be the same figure as the net assets (18B) figure, otherwise the balance sheet will not balance.
26. Sole trader/partners' capital account
The current balance of the firm's capital account.
27. Other reserves
Any other reserves not already covered by the previous heading.
28. Total capital and reserves
This is the total capital and reserves at the firm. This figure is the total of sole trader/partners' capital account (26A) + other reserves (27A) Please note that this figure must be the same figure as the net assets (18B) figure, otherwise the balance sheet will not balance.