This free balance sheet template sets out a UK small business’s assets, liabilities and equity for up to three years side by side. Enter closing figures from your accounts or trial balance, and it works out net fixed assets, net current assets, net assets and total equity, then confirms each year balances. It suits limited companies and sole traders alike.
What goes on a balance sheet?
The Balance Sheet tab follows the UK format, with net assets on one side and how they are financed on the other.
| Section | Lines on the template |
|---|---|
| Fixed assets | Plant and machinery, fixtures and fittings, vehicles, other fixed assets, less accumulated depreciation |
| Current assets | Stock / inventory, trade debtors, prepayments, cash at bank, other current assets |
| Current liabilities | Trade creditors, accruals, VAT liability, bank overdraft, PAYE / NI |
| Long-term liabilities | Bank loans, director loans |
| Financed by | Share capital, retained earnings brought forward, profit for the year |
Net current assets (current assets less current liabilities) shows whether short-term bills are covered. Net assets is everything owned less everything owed.
Why use three years?
Putting three year ends side by side shows trends a single snapshot hides: debtors growing faster than sales, cash falling while profit rises, or loans creeping up. The colour band at the top always shows the latest year.
Getting it to balance
The most common causes of a mismatch are a liability entered as a negative number, depreciation entered as a negative, or a profit figure that does not match the profit and loss account. Retained earnings should be the figure brought forward from previous years, with this year’s profit on its own line, so it is not counted twice. For the profit figure itself, see the profit and loss template.
