Debtors & Creditors Breakdown Notes and Tangible Fixed Assets Movements — Now Included in Your Accounts

We're excited to announce a significant enhancement to WeFile's CT600 and Companies House filing capabilities. Your accounts now automatically include detailed note disclosures for Debtors, Creditors, and Tangible Fixed Asset Movements — fully compliant with FRS 102 Section 1A (Total Exemption Full Accounts).

These notes are generated from the data you already enter in the filing wizard and are embedded directly into the iXBRL accounts document that accompanies your CT600 submission to HMRC and your annual return to Companies House. No extra steps, no manual formatting — just accurate, professional-grade financial statements.

Under FRS 102 Section 1A, small companies preparing Total Exemption Full Accounts are required to include certain note disclosures alongside the primary financial statements (Profit & Loss and Balance Sheet). These notes provide additional context and transparency about the figures reported on the face of the accounts.

Without these notes, your accounts may lack the detail expected by:

• HMRC — who review accounts as part of CT600 corporation tax submissions

• Companies House — who require properly formatted annual accounts

• Stakeholders — directors, shareholders, lenders, and auditors who rely on complete financial statements

WeFile now handles all of this automatically, so you can focus on entering your numbers and leave the compliance formatting to us.

When your balance sheet includes amounts owed to the company (debtors), WeFile now generates a dedicated Debtors note that breaks the total down into its component parts:

• Trade debtors — amounts owed by customers for goods or services supplied on credit

• Prepayments and accrued income — payments made in advance or income earned but not yet received

• Other debtors — any other amounts receivable not falling into the above categories

The note automatically includes comparative figures from the previous year (where available), giving a clear year-on-year view. This is presented in a clean, tabulated format with Current Year and Previous Year columns, matching the layout used by professional accounting software.

This breakdown provides essential context for the single "Debtors" line on your balance sheet, explaining exactly what makes up that total figure.

Similarly, when your balance sheet includes amounts the company owes (creditors), WeFile generates a comprehensive Creditors note split into two standard categories:

Creditors: amounts falling due within one year

• Trade creditors — amounts owed to suppliers

• Corporation tax — tax liability for the period

• Other taxes and social security — VAT, PAYE, NIC, and other tax obligations

• Accruals and deferred income — expenses incurred but not yet paid, or income received in advance

• Other creditors — any other short-term liabilities

Creditors: amounts falling due after more than one year

• Bank loans — long-term borrowings from financial institutions

• Other creditors — any other long-term liabilities

Both sections include comparative prior-year figures where available. The separation between short-term and long-term creditors is a key FRS 102 requirement, giving a true picture of the company's obligations and liquidity position.

For companies with tangible fixed assets (property, plant, equipment, vehicles, fixtures, etc.), WeFile now produces a detailed Fixed Asset Movements note. This is one of the most important disclosures in any set of accounts and shows the full movement schedule for the period:

Cost

• Brought forward — opening cost at the start of the period

• Additions — new assets purchased or capitalised during the year

• Disposals — assets sold or scrapped during the year

• Carried forward — closing cost at the end of the period

Depreciation

• Brought forward — accumulated depreciation at the start of the period

• Charge for the year — depreciation expense for the current period

• On disposals — depreciation released on disposed assets

• Carried forward — accumulated depreciation at the end of the period

Net Book Value (NBV) — the difference between cost carried forward and depreciation carried forward, representing the asset's remaining value on the balance sheet.

The note is presented per asset category (e.g., Plant & Machinery, Motor Vehicles, Office Equipment) with a Total row summarising all categories. This gives complete transparency over how fixed asset values have changed during the accounting period.

These note disclosures are generated automatically from the data you enter in the WeFile filing wizard. Here's the flow:

1. Enter your balance sheet data — In the Balance Sheet step of the filing wizard, populate the breakdown fields for debtors, creditors, and fixed assets as applicable.

2. Fixed asset categories — If you have tangible fixed assets, you can add multiple asset categories (e.g., Land & Buildings, Motor Vehicles) and enter the cost, additions, disposals, and depreciation figures for each.

3. Automatic note generation — When your filing is submitted, WeFile automatically detects which breakdowns have been populated and includes the corresponding notes in your iXBRL accounts document.

4. Smart numbering — Notes are sequentially numbered (e.g., Note 4: Tangible Fixed Assets, Note 5: Debtors, Note 6: Creditors) and the Contents page is updated to reflect the correct page references.

There's no separate step to "enable" these notes. Simply enter the data, and the notes appear in your final accounts. If a breakdown section is left empty (e.g., you have no fixed assets), that note is simply omitted — keeping your accounts clean and relevant.

These note disclosures are available for Total Exemption Full Accounts (FRS 102 Section 1A). This is the account type used by the majority of small UK limited companies filing with Companies House and HMRC.

For Micro-Entity Accounts (FRS 105), note disclosures are more limited by the standard itself, and the balance sheet is presented in a simplified format. The breakdown notes are therefore only generated when the account type is set to "Full" in the filing wizard.

For Dormant Accounts, these notes do not apply as there are no trading transactions to report.

All notes are formatted to match the standard layout expected by HMRC and Companies House:

• Clean tabular presentation with clearly labelled columns

• Proper currency formatting (£) with negative values shown in brackets

• Comparative prior-year figures where available

• Consistent page numbering and table of contents references

• Bold totals with separator lines matching standard accounting presentation

The output is indistinguishable from accounts prepared by professional accounting software — because it follows exactly the same FRS 102 Section 1A disclosure requirements.

If you're already using WeFile to file your CT600 and Companies House accounts, there's nothing new to set up. Simply ensure you're using the Full Account type in the filing wizard and populate the relevant breakdown fields on the Balance Sheet step.

If you're new to WeFile, create your account and start a new filing. The wizard will guide you through every step, and your note disclosures will be generated automatically when you submit.

As always, if you have any questions or need assistance, our Help Centre is available, or you can reach out via the Contact page.