Nature of the prior period errors & amount of correction for each financial statement line affected
Mistatements of the following statement lines in 2023 Accounts:
Profit and loss account
Turnover: £7,400 restated to £6,400
Depreciation and other amounts written off assets: (£113) restated to (£473)
Other charges: (£2,152) restated to (£7,999)
Tax (£976) restated to £-
Net profit £3,978 restated to (£2,253)
Balance Sheet
Current Assets £49,723 restated to £1,015
Creditors falling due within one year: (£45,303) restated to (£2,978)
Captial and resreves: £4,132 restated to (£2,251)