'transferring in' resources and toys

[Bluebell]

A lot of my toys and resources were originally my childrens. They haven't cost me anything.

However, had I decided to sell them when they weren't used by my children I would have gained some monetary value. Many (like jigsaws and colouring books) for example are now worse for wear or used and can not be sold on.

Should I have been putting them down some kind of percentage or 'second-hand value' of the toys as they came out of my personal use and into my business??

[clare83]

I am sure I have heard that you can buy items from yourself for business purposes. I have t done it myself though. I am sure others will be along with more informative advice...:-)

[MrsP2C]

A lot of my toys and resources were originally my childrens. They haven't cost me anything.

However, had I decided to sell them when they weren't used by my children I would have gained some monetary value. Many (like jigsaws and colouring books) for example are now worse for wear or used and can not be sold on.

Should I have been putting them down some kind of percentage or 'second-hand value' of the toys as they came out of my personal use and into my business??

I've done this with my children's toys & some equipment such as car seats & high chairs. I try & 2 or 3 similar items selling online from places like gumtree, ebay or local selling sites and use an average value keeping copies of the ads as 'evidence/receipts' . I keep a tally of all my toys & equipment purchases (aka stock list) with date, price paid & brief description so I know what I've bought & when.

I'd be interested to know if this is correct or not!!!