- Original Poster
- #1
So, position is a limited company set up with four directors ceased trading. It was an online business that Basically after covid it never recovered.
It has no real assets other than some computer code as an online business. Its losses were funded by shareholder equity, so shares are worthless, and it has no debt I am aware of other than a small amount of company credit card debt which was in default over a year ago. Bank account closed. It doesn’t owe the Inland Revenue anything. Two of the directors that lent it money have written that off, likewise a shareholder that lent it money.
In an ideal world my advice would be to appoint administrators and close it off properly, but the directors haven’t got the funds to pay for it, so company just left.
Moving forward the last years accounts were never finished and long overdue again because they didn’t have the funds to pay an accountant to do it albeit transaction history minimal.
Companies house have now issued the First Gazette notice for compulsory strike-off.
My questions are: -
1. Is it worth filing a DS01 and paying the £10 or have companies house in effect done that?
2. Do you think its worth filing a TM01 to remove three directors all but one. They don’t want anything to do with it. Or is this a waste of time. The TM01 would hit companies house now after the First Gazette Notice
3. What’s the process from here is it just a case of if nobody objects the final gazette gets issued and it gets struck off.
4. On the assumption that it does get struck off do any of the shareholders have any claims against the directors. They have historically purchased shares which are now worthless. Albeit there is no value in the company.
5. On the assumption that it does get struck off is there any impact to the named directors in relation to other directorships they may have.
Appreciate that’s a lot of questions to ask and I value, appreciate and thank any of the IP’s here that are prepared take time out to reply to this. It is appreciated especially as there is nothing in it for you. Thanks again.
It has no real assets other than some computer code as an online business. Its losses were funded by shareholder equity, so shares are worthless, and it has no debt I am aware of other than a small amount of company credit card debt which was in default over a year ago. Bank account closed. It doesn’t owe the Inland Revenue anything. Two of the directors that lent it money have written that off, likewise a shareholder that lent it money.
In an ideal world my advice would be to appoint administrators and close it off properly, but the directors haven’t got the funds to pay for it, so company just left.
Moving forward the last years accounts were never finished and long overdue again because they didn’t have the funds to pay an accountant to do it albeit transaction history minimal.
Companies house have now issued the First Gazette notice for compulsory strike-off.
My questions are: -
1. Is it worth filing a DS01 and paying the £10 or have companies house in effect done that?
2. Do you think its worth filing a TM01 to remove three directors all but one. They don’t want anything to do with it. Or is this a waste of time. The TM01 would hit companies house now after the First Gazette Notice
3. What’s the process from here is it just a case of if nobody objects the final gazette gets issued and it gets struck off.
4. On the assumption that it does get struck off do any of the shareholders have any claims against the directors. They have historically purchased shares which are now worthless. Albeit there is no value in the company.
5. On the assumption that it does get struck off is there any impact to the named directors in relation to other directorships they may have.
Appreciate that’s a lot of questions to ask and I value, appreciate and thank any of the IP’s here that are prepared take time out to reply to this. It is appreciated especially as there is nothing in it for you. Thanks again.
