COMPANY RESTORATION

Companies can be struck off the register at Companies House voluntarily or by the Registrar of Companies.

At present if a company is struck off the register of companies at the instigation of the Registrar the company, or a member or creditor of it, can apply to the Court for restoration within 20 years of the dissolution. However from 1st October 2009 under the Companies Act 2006, the time limit for the restoration of a company will be amended to 6 years, with exceptions.

One reason the Registrar will remove a company from the register is because they have failed to file company accounts and annual returns. Before the Registrar strikes a company off he will satisfy himself that the company is still not in business or operation by sending letters to the company’s registered office, if the company does not respond a notice will be published in the London Gazette stating that he intends to strike the company off giving the company three months to respond unless cause is shown to do otherwise. The company will be dissolved on publication of a further notice in the Gazette. Any assets owned by the company at the time of dissolution including any credit balance in the company bank account will be passed to the crown (or the Duchy of Lancaster or Cornwall depending on the location of the company) and the bank account will be frozen.

The above highlights the importance of keeping the address of the company’s registered office up to date at Companies House.

To recover the assets the company must be restored, the company can be struck off again voluntarily once the assets have been recovered if required.

It is not unusual for a company that owns the freehold of a block of flats to be struck off by the registrar due to failure to file accounts and annual returns. If this has happened to your freehold company do not hesitate to contact this firm for a free quotation of costs.

This firm’s fee for dealing with a straightforward restoration is £395* plus vat where applicable & disbursements.

Disbursements (subject to change) are as follows:-

* If a court appearance is necessary which is unusual then an additional £200 will be payable.

Please note that the above costs DO NOT include Companies House late filing penalties. Filing penalties are to be increased on 1 February 2009.

Tel 0207 476 2544 or info@gmhewettsolicitor.com

This guide is intended as general information only it does not seek to summarise the relevant legislation which is a complex and technical area of law. You should take professional legal advice relating to your specific circumstances.

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