The two main reasons for removal of a Company from the Register of Companies are failure to file accounts or returns at Companies House or a request by a Director to dissolve the Company. Once a limited Company is dissolved, it no longer legally exists. As a result, the bank account becomes frozen, the assets pass to The Crown (ie become Bona Vacantia), and leases, insurance policies and finance agreements may become invalid.
In order to recover assets, such as cash in bank from the Company; or continue trading, you need to have the company restored. This can be done either as an Administrative Restoration (where a Company has been struck-off by the Registrar of Companies); or a Restoration by Court Order (where a Director requested to dissolve the Company).
Our Company Restoration service will endeavour to restore the Company to the Register of Companies and includes the following:
- Initial consultation to advise on procedure for restoration, likely timescales and costs
- Preparation of the appropriate legal documents and statement of compliance for approval and signature by the Director
- Forward the signed documents to the Treasury Solicitor and the Registrar Of Companies
- Preparation of overdue documents, returns and accounts to be lodged with the Registrar of Companies
- Submission to the Registrar Of Companies of overdue documents, returns and accounts
- Advise and facilitate payments of all fees, fines and penalties to the Registrar Of Companies
- Advise and facilitate payments to the Treasury Solicitors or to the Duke of Cornwall or Duchy of Lancashire, as required
- Preparation of evidence of service and obtaining the consent order from the Treasury Solicitor to be served to the Registrar of Companies
- Facilitate and complete change of Company name, if required by Court
- Providing regular information and updates on the progress of the restoration
Our experience can help you understand your options and restore a Company in the quickest and least disruptive way possible. To discuss our Company Restoration service further or if you have any queries please Contact Taxwise Accountancy today to arrange a friendly, impartial, professional consultation.
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