Dormant Company

Dormant Company

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Hi

If a company has traded in the past and has submitted exempt accounts then becomes non-trading, can they then submit Dormant accounts? Even though there is assets and money in the bank?

My first assumption is no, but would just like to clarify as talking to a new client he had been told by his previous accountant that this was acceptable??

Thanks

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Euan's picture
By Euan MacLennan
23rd Nov 2011 15:31

Yes & No

Yes - they must continue to file annual accounts at Companies House until they decide to close the company, but if there are no transactions (not even interest?), you would not need to file a P&L account, so you might refer to the accounts as "dormant".

No - you cannot file form DCA which is only available to companies limited by shares which are not only dormant, but which have never traded.

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Image is of a pin up style woman in a red dress with some of her skirt caught in the filing cabinet. She looks surprised.
By Monsoon
23rd Nov 2011 15:59

As Euan says

If it's previously traded then it can't file DCA.

"Dormant" accounts for a company that's no longer trading and has had no more activity would basically be the same balance sheet filed as ABBRV each year going forwards.

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