View Full Version : Limited Company - accounts after ceasation of trading
ipswichanna
8th January 2009, 15:53
Hi can someone help please. If a limited company has ceased trading, all forms have been logged with companies house and then after this time the bank, who they owe money to, starts writing asking for their money what is the legal stance of paying them when the company no longer exists and has closed down?
Zeno
8th January 2009, 15:59
You will have to clarify something. Has the company actually been formally wound up after following the correct procedure (unlikely) or have you just applied to have it struck off?
Just because thecompany has ceased trading does not mean it no longer exists.
Were any personal guarantees or other securties given over the bank borrowing?
ipswichanna
8th January 2009, 16:01
No personal guarantees were given. Companies House have closed the company down. Inland Revenue have had the final accounts and know the company is no longer trading - the accountant employed dealt with all of that.
The bank were notified but say they never received the letter. They now want money.
Can they legally pursue this?
Charlie B ACS
8th January 2009, 16:05
What was the money owed for, is it money lent, or fees / charges.
It would be helpful to know if it has been struck off or has just ceased trading pending strike off.
Zeno
8th January 2009, 16:07
You will need to take legal advice. Is your accountant a licensed insolvency practicioner?
Are you sure that no guarantees or securties were given?. It is very unusual for a bank to provide borrowings to a limited company without them.
ipswichanna
8th January 2009, 16:09
The monies were the overdraft on the account.
Charlie B ACS
8th January 2009, 16:11
How was the company closed down?
If you'd prefer or don't know, PM me their name & I'll look it up for you.
ipswichanna
8th January 2009, 16:17
Can't remember if it was AB Auto Repairs Limited or AB Autos Limited
Charlie B ACS
8th January 2009, 16:22
A B AUTOS REPAIRS LIMITED, has a proposal to strike off. But at the moment is not "closed".
I would recomend talking to the bank asap, as they could stop the company being struck off, and push for insolvency proceedings.
Zeno
8th January 2009, 16:23
If it was AB Auto Repairs Ltd (In Ipswich) then there is a pending proposal to strike off.
Was the bank the only creditor?
ipswichanna
8th January 2009, 16:26
As far as I am aware it was only the bank - how did you find that information out please
As far as Dupont are concerned the name is free to be registered?
Charlie B ACS
8th January 2009, 16:27
the info was from Webcheck on the companies house website
http://www.companieshouse.gov.uk/
Jaydee
8th January 2009, 16:34
The name is definitely not available yet.
The application to dissolve (652a) was filed on 18/8/08 but it was not Gazetted until 30/9/08 so even if the bank do not block the dissolution you have a while yet before it is dissolved and the name cannot be used again until then.