Company Business Account Frozen  -LTD Co Disolved Company Business Account Frozen -LTD Co Disolved
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  1. #1

    Nervous Newbie


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    Default Company Business Account Frozen -LTD Co Disolved

    So I dissolved my company Volatility via DS01 form. So it was struck off recently.

    Stupidly I haven't taken the money out of the business account. Which now has been frozen unless the company is reinstated. around about 5k

    I cant do straight simple administration reinstating as I dissolved my company voluntarily, so I have to go through to the court route and I'm aware theres fees/costs involved.

    my questions are as follows:

    1) what reasons are acceptable for the court to allow you to reinstate your company? I understand this is very important.

    2)also I didn't do 2019/2020 accounts when I closed my company. I was under the impression I would be able to do that later as I normally would need to have had them done by November 2020 as I incorporated in February a few years ago. But as I had dissolved , I didn't realise I needed to them within that time. So would I need to get all this done as well before I can file for reinstatement??

    3) I don't have creditors or anything like that.

    For those who have been in a similar situation or have knowledge in this pleas reply

  2. #2

    Super poster

    Lance's Avatar
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    I take it you don’t have an accountant?

    There might be someone on here who can help but it’s probably an accountant.
    See You Next Tuesday

  3. #3

    My post count is Majestic

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    Where is that guy that does his own accounts?
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  4. #4

    Nervous Newbie


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    Anybody ?

  5. #5

    Some things in Moderation

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    "I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
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  6. #6

    My post count is Majestic

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    Just be proud your money is helping the country in its hour of need and move on.
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  7. #7

    Still gathering requirements...


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    northernladuk - Isn't it just sitting with commercial bank your account is hosted by? In this case it's quite a long way between benefiting someone else pocket and country (not to mention gov efficiency issues with all this bureaucracy vs declarative good goals).. 5K will produce 50K of money in banking system, at current 15-25% loan interests it will yield 7K+ annual income for bank shareholders (net impairments/costs)..

    I would probably quote several accountants - for how much they can buy this company from me (and run open/close technicality with account-drain themselves) in order to evaluate if it's worth all the hustle with opening it again (and then sending back into dormant, or dissolving)
    Last edited by Yuri F; 5th April 2020 at 19:03.

  8. #8

    Godlike

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    HMT ultimately snaffle it up

  9. #9

    My post count is Majestic

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    Quote Originally Posted by Yuri F View Post
    northernladuk - Isn't it just sitting with commercial bank your account is hosted by? In this case it's quite a long way between benefiting someone else pocket and country (not to mention gov efficiency issues with all this bureaucracy vs declarative good goals).. 5K will produce 50K of money in banking system, at current 15-25% loan interests it will yield 7K+ annual income for bank shareholders (net impairments/costs)..

    I would probably quote several accountants - for how much they can buy this company from me (and run open/close technicality with account-drain themselves) in order to evaluate if it's worth all the hustle with opening it again (and then sending back into dormant, or dissolving)
    No. It passes straight through to the Crown as it no longer has a legal owner.

    Do the google that Cojak suggested
    'CUK forum personality of 2011 - Winner - Yes really!!!!

  10. #10

    Still gathering requirements...


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    Well, thanks for tip, it looks like it's almost toasted then.. in this case as pointed by cojak - not yet "abandon hopes all .." situation based on
    bona vacantia and company restoration

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