Prepare trail balance using following adjustment 1. In this 1st year ending, additional info on 24th Oct 2022

a. company purchased one property located in "Highland park" for a price 230,000.

b. Bank Loan (mortgage) financed 75% - Amount 17,250 (at 5% interest rate) + 230 added in loan principle as fee (interest free).

c. Rest amount + all expenses towards purchase paid by company as down payment. Detail breakup attached file "Property purchase completion.pdf"

2. After property purchase completed, it was let in to market for 925 per month rental income and tenants were paying on time in to company bank account.

3. Starting capital: 2.00 (called up but not paid; Two Directors/shareholders of company Mr HICKMAN & Mrs TRACY 1 each.

4. Business Description: BTL (Buy-To-Let business). It is not traditional type of selling of product/service business. Company is setup to buy property under LTD company and earn rental income tax effectively because current corporation tax rate is 19% (lower than personal income in UK).

5. In this 1st year ending, additional info on 24th Oct 2022

a. company purchased one property located in "Highland park" for a price 230,000.

b. Bank Loan (mortgage) financed 75% - Amount 17,250 (at 5% interest rate) + 230 added in loan principle as fee (interest free).

c. Rest amount + all expenses towards purchase paid by company as down payment. Detail breakup attached file "Property purchase completion.pdf"

6. After property purchase completed, it was let in to market for 925 per month rental income and tenants were paying on time in to company bank account.

7. What could be additional out of pocket reasonable expenses directors can include in financial statement for BTL business in addition mentioned item in Business bank account? You can add based on your research on this topic.

8. Provision for accounting fee to be made 600 as it is not been paid yet.

9. There was a security deposit received (2 months' rent) by agent and it was protected by them under 3rd party account called "DPS".

Prepare: Trial Balance

PAYMENTS PURCHASE PRICE 230000.00 ADD DISBURSEMENTS, RECHARGES AND EXPENSES (Inclusive of VAT where applicable) LocalSearchWinding-UpSearchCompaniesHouseRegistrationLandRegistrySearchFeeEnglishStampDuty"LandRegistrationFees5253.9958.88515.0053.6056800.00150.00 TOTAL PAYMENTS 7331.47 FEES Our Professional Legal Fees For Acting On Your Purchase Our Administration Fee For Processing 1 Electronic Bank Transfer Payment For You 31.158.23 Our Administration Fee For Electronic Submission of Land Registration Application Our Administration Fee For Complianoe With A Lenders Requirements in Relation To A Buy To Let MortgageOuradministrationfeeforyourdigitaljoumey100.0035.0020.007.00120.0042.00 Our administration fee for camying out a lawyer check search against the other side's solicitors/conveyancers 10.002.0012.00 TOTAL FEES AND VAT 1039.62 TOTAL REQUIRED ON PURCHASE 238371.09 LESS Payments on Acoounts reoeived from you 68171.00 MORTGAGE ADVANCE The Mortgage Works (UK) Plo 172480.00 TOTAL RECEIPTS 238851.09 BALANCEDUETOCLENT 280.00