When a company has been struck off or dissolved, it is removed from the Companies House register and cannot trade, sell assets, make payments or be involved in any other business activities. In some cases, Directors may wish to restore the Company back to the register due to their either being a failure to file accounts , submit an annual confirmation statement form CS01 or that there has been a failure in notifying Companies House of the change in the Registered office address.
Here are a few tips on the process:-
Why would a director want to restore the Company?
- There may be assets in the company which can be distributed after restoration
- Legal claims can be continued or commenced
- To continue trading
It is important to note that once the Company is restored its financial position must be put back as it was before the dissolution took place.
The application
The Director or Shareholder of the company which has been dissolved and in some cases a creditor who may have a claim against the company before t was dissolved and certain types of stakeholders and investors.
Time limits
There is a six year timeline from the date of dissolution. Section 10249 4) of the Companies Act 2006.
The process
By way of obtaining a Court Order which requires the completion of a claim form and a witness statement.
An Administrative process is only available in instances where the company was struck off by Companies House due to non-compliance, such as when accounts have not been filed.
In the case of voluntary dissolution by the directors, a court order will have to be obtained in order to restore the company, which involves the preparation and filing of a Claim Form and Witness Statement.
It generally takes about four months (depending on the complexities of the circumstances) if carried out by way of a Court process. It is advisable to obtain consent from Companies House and without the need for a court hearing. If not, then a hearing may be required for the court to consider the application.
The application can be made either at the High Court or at the County Court which was most local to the Company’s registered office address. Some County Courts do not deal with the process and so the hearing will depend on the Court in which the application is made.
A few different options for company restoration can be considered and it is important to review the circumstance surrounding the reason for the strike off carefully before deciding what action you wish to take.
Conclusion
If you want to find out anything further about this topic then please feel free to call me on 0330 236 9930, 0330 236 9938 or 07961 116321. All conversations will be in strict confidence. You can also email me vee@navigatebr.com.
This article is for information and interest only. It is not a substitute for full professional advice, which will take in to account the specific and individual circumstances. Navigate Business Recovery Limited cannot accept any responsibility for any loss arising as a result of any person or organisation acting or refraining from acting on any information.
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