Accounting Question - hopefully not too difficult

Dazzling D

I've just been having a trawl through the accounts for the company I work for (a limited company with two directors). In the Balance Sheet there is a figure under Current Liabilities (within 1 Year) for Directors Accounts. This is a figure for money that the Directors have already withdrawn from the company in various sums throughout the financial year.

Why is figure under Current Liabilities if it has already been paid?

okedoke

It should only be under current liabilities if the company owes the directors money - probably they are owed a certain amount (director's loans) and have only withdrawn a portion of that - the figure in the balance sheet should refer to the balance they are owed

gerrycollins

the money values are under current liablities cause under 1 yr the money was never there in the first place until the end of the business year for it to be withdrawn by directors