companies are struck-off by the Registrar of Companies and the first
the directors know about it is when the company bank account or other
assets are frozen! The most common reason is usually for failing to
file Annual Returns or Accounts. Frequently companies themselves apply
struck-off, but overlook transferring credit balances from their bank
accounts first, or forget about other assets.
assets of a struck-off company vest in the Crown
(known as bona vacantia), so if that company
wishes to continue in business, unfreeze a bank account or there is
property it wants to keep or retrieve, it's not as simple as just
incorporating a new company - the original company must be restored to
the Companies House register.
makes many company restoration applications each
year to restore dissolved and struck off companies to the Register,
quickly and cost-effectively. We deal with both administrative restorations
and restoration by court order.
The quickest procedure is administrative restoration and is done via an application made to the Registrar. This avoids having to make an application to the Court (Court Order Company Restoration), which is more expensive and is a longer procedure. However if the company was dissolved voluntarily by the directors, they cannot apply for administrative company restoration. It should also be noted that for administrative restoration filing of outstanding accounts and annual returns and payment of any late filing penalties is required.
If the company is to be dissolved as soon as any assets are realised then court order company restoration is recommended because, although the cost of restoration is higher, it avoids the need to file outstanding accounts and annual returns, and is therefore more economical.
you wish to make an
immediate enquiry or instruct us please go to our UK company restoration enquiry form or call us on +44(0)1925 757887 or (m) 07710141058.