Download below our free Excel Balance Sheet template for small business. The Balance sheet is one of the main reports required by businesses. It shows at any point the value of a business. The balance sheet is made up of assets (what it owns), liabilities (what it owes) and equities (Capital).
Other useful financial reports are the Profit and Loss Account, cash forecasting and budgeting. For other Excel, templates look at our free Excel bookkeeping templates page. Our templates also include sales invoice, aged debtors, expenses and petty cash. All are easy to use and free to download.
As part of the year-end accounts for a Limited company, you will need to produce the report for Companies House; this template will not be suitable for this. Your accountant will be able to format the accounts to be submitted.
The easiest way to produce the report is through accounting software. If you are not using accounting software, then use our spreadsheet download. The accounting software we recommend is Xero, QuickBooks or the free version of Pandle.
Balance Sheet Template UK Example
Balance Sheet Template – Explanation
When preparing your balance sheet is is useful to understand the different parts to it.
Current Assets – These are short term assets, usually one year or less. Current assets include cash, bank account, accounts receivable (amounts owed by customers), stock and prepayments.
Fixed Assets or long term assets –They include equipment, fixtures, fittings, tools and buildings. Fixed assets are written off over a period of time by depreciation.
Current Liabilities – These are items that you agree to pay over a short period, normally a year. They include accounts payable, short term loans and taxes.
Long term Liabilities – these include any long term loans an example is a mortgage on a property.
Owners Equity – This is the amount invested in the business and profits or losses made. The profit or loss will be taken from the income statement or also know as the profit and loss account.
The accounting equation is Assets – liabilities = Owners Equity.
For further information read our section on the balance sheet.
Instructions for Balance Sheet Template UK
Follow the links below to download your template. At the top enter your business name and the date to which it refers. Balance sheet dates are always as at a certain date, rather than covering a period like a profit and loss report. As a balance sheet is a picture of the business finance at any given date.
You will then need to enter all the figures you have available from your accounts and reports. Once the numbers are posted the net assets and total equity should balance, if they do not, you will need to check your figures again.
If you are after a Balance Sheet to complete your accounts at Companies House, you will need to either use an Accountant or Accounting software which can produce it for you. Accountants will have a template they use to produce both a full set of accounts and an abbreviated set.
Although a balance sheet template is a good way to produce the balance sheet, the easiest way is to use accounting software. The are several options available including popular packages like Xero and Quickbooks, or a free one called Pandle.
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We have more free templates including cash book, petty cash, aged payables, aged receivables. All our templates are available to download on free bookkeeping templates.
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