Move profit from previous year to current year

Accounting
1

I changed my company year end before drawing out some profit through the DLA. Now the previous year has profit in it that I’d like to have in this year so I can access it via the DLA or dividends.

The previous year hasn’t been closed down yet.

Any advice?

Thanks, Keith

2

Reducing outstanding credit balance on DLA is not income for director, dividends are and subject to profit. You can take dividends from opening P&L reserves too provided overall there is enough profit to declare dividends

3

OK, so to put it another way, is there a way to move profit from the previous year to the current year?

4

Once year end is done profit for current year is moved to next year automatically as P&L b/f (see balance sheet share capital section)