Example Walkthrough

Learn with a sample company

About This Example

This walkthrough uses a fictional company called "Example Trading Ltd" to demonstrate how to use the iXBRL Accounts Generator.

Follow along: You can copy these values into the main form, or use this page as a reference to understand what goes where.

Scenario: Example Trading Ltd is a small retail business that sells widgets. They qualify as a micro-entity under FRS 105 with turnover under £632,000, balance sheet under £316,000, and fewer than 10 employees.

1 Company Information

Example Trading Ltd
12345678
2024-12-31
2023-12-31
2025-03-15
5
Jane Smith
John Doe

Note: Company number 12345678 is fictional. Always use your real Companies House number when filing.

2 Profit & Loss Account

Include in filing: YES (toggle enabled) — This company chooses to file their P&L publicly.

Line Item Current Year (£) Prior Year (£)
Turnover 450,000 420,000
Cost of sales 270,000 252,000
Gross profit (loss) [CALCULATED] 180,000 168,000
Administrative expenses 140,000 135,000
Operating profit (loss) [CALCULATED] 40,000 33,000
Interest receivable and similar income 500 300
Interest payable and similar expenses 2,500 3,000
Profit (loss) before taxation [CALCULATED] 38,000 30,300
Tax on profit (loss) 7,220 5,757
Profit (loss) for the financial year [CALCULATED] 30,780 24,543

Calculation Notes:

  • • Gross Profit = £450,000 - £270,000 = £180,000
  • • Operating Profit = £180,000 - £140,000 = £40,000
  • • Profit Before Tax = £40,000 + £500 - £2,500 = £38,000
  • • Profit for Year = £38,000 - £7,220 = £30,780

3 Balance Sheet

Line Item Current Year (£) Prior Year (£)
Fixed Assets
Intangible assets 0 0
Tangible assets 45,000 50,000
Total fixed assets [CALC] 45,000 50,000
Current Assets
Stocks 35,000 30,000
Debtors 52,000 48,000
Cash at bank and in hand 28,000 22,000
Total current assets [CALC] 115,000 100,000
Creditors: amounts falling due within one year
Trade creditors 25,000 23,000
Other creditors 15,000 12,000
Total creditors < 1 year [CALC] 40,000 35,000
Net current assets (liabilities) [CALC] 75,000 65,000
Total assets less current liabilities [CALC] 120,000 115,000
Creditors: amounts falling due after more than one year
Long-term creditors 20,000 25,000
Provisions for liabilities
Provisions 0 0
Net assets (liabilities) [CALC] 100,000 90,000
Capital and Reserves
Called up share capital 1,000 1,000
Retained earnings (opening) 68,220 64,457
Retained earnings (closing) [CALC] 99,000 89,000
Total shareholders' funds [CALC] 100,000 90,000

Balancing Check:

  • • Net Assets (current year) = £100,000
  • • Total Shareholders' Funds (current year) = £100,000
  • ✓ Balance sheet balances!

Reserves Reconciliation:

  • • Opening retained earnings: £68,220
  • • Add: Profit for the year: £30,780
  • • Closing retained earnings: £99,000
  • ✓ Reserves reconcile correctly!

Next Steps

1 Try it yourself

Go to the main form and enter these values to see the calculations in action.

2 Click "Validate Accounts"

This will check that the balance sheet balances and all required fields are filled.

3 Generate iXBRL

Click "Generate iXBRL" to download the compliant accounts file. You can then view it in a browser or upload to Companies House.

4 Use your own data

Once you're comfortable with how it works, replace this example data with your company's actual figures.

Key Takeaways from This Example

Automatic Calculations

All totals, subtotals, and profit/loss figures are calculated automatically—you only enter the raw line items.

Balance Sheet Must Balance

Net Assets (£100,000) must equal Total Shareholders' Funds (£100,000). The validator will catch mismatches.

Reserves Flow from P&L

Profit for the year (£30,780) flows to retained earnings: Opening (£68,220) + Profit (£30,780) = Closing (£99,000).

Comparative Figures Required

Both current year AND prior year columns must be completed for compliant accounts.