Company Registration Name: Strike off, Dissolution & Restoration

Here is an overview on some of the most important elements in setting up a company. It includes the factors related to strike off, Dissolution and Restoration. Hope this advises will be helpful to you.

What are the circumstances that lead a company to strike off from the register?

 If a company wants to strike off or dissolve then it is required for it to make an application to the registrar.  The situation of striking off a company arises when the company thinks that it is not needed Any longer or if the directors want to retire and there is no body to shoulder the responsibility from them. It might also be the case that the company has turned to be a subsidiary and the idea with which it has been set up is no longer feasible.

When a company can apply to strike off from the register?

It is only possible to make an application to strike off voluntarily only when the company or majority of the directors on the behalf of the company wants to so. A company is not eligible to apply for a strike off within the last 3 months no trade has been carried on the business otherwise or has changed its name or even before stopping trade or else to carry on business; it has made a disposal for value of property. It cannot even apply for a strike off if it is engaged in activity other than the one required for the purpose of

• Applying for strike off
• Marking an end to the affairs of the company
• Complying to the statutory requirements

A company cannot apply for a strike off if,

• Any insolvency proceedings, for instance, liquidation or a petition presented but without been properly dealt with
• A section 895 scheme or an arrangement or compromise between the creditors or members and a company
• It has settled the debts pertaining to trading or business within previous three months.

What needs to be done before applying?

These are the steps need to be taken if you have decided on applying for a strike off,

• Warn the creditors, the members and others related to the company before the strike off as they might have valid reasons to object to it.
• Deal with the loose ends well, such as transferring the domain names, closing the bank account of the company and any other important measures.
• Notify all the organisations or third parties who is interested in the affairs of the company

How to apply?

First it is required to complete the ‘Form DS01’, which is the Striking off application by a company

It is required to sign and date the form by

• The sole director, when there is only one
• Both in case there are two
• By all or the majority of directors when there are more than 2

Who needs to be informed?

The directors must send the copy of the application to the following members within 7 days of sending the application to the registrar,

• Employees;
• Directors who have not signed the form
• Members, who the shareholders
• Managers or trustees of any employee pension fund
• Creditors, inclusive of all contingent and prospective ones such as suppliers, banks, former employees in case the company owes them money, landlords, tenants, personal injury claimants and guarantors.
• It is required to notify to the appropriate offices of Customs (HMRC), Her Majesty’s Revenue and Department of Work & Pensions (DWP)