Missing statutory books

Missing statutory books

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I have a new client that does not know where his statutory books are (or even that he had any before I mentioned them).

The previous (unregulated) advisor did not answer our clearance letter/reminders/phone calls, and luckily the director had enough information for us to be able to start work.

If the previous advisor has the statutory books, it is unlikely that we are going to be able to get hold of them.

Can we just recontruct a new set of records?

The company has only ever had 1 director/shareholder, and has changed its name (for which the client has all the necessary paperwork).

Any help would be appreciated
SteffiBC

Replies (5)

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By User deleted
28th Feb 2007 15:58

VAT
I realise Waqqas had gone away from the question by accident, but about 15 years ago I did what he suggests - I wrote to HMC+E asking for copies of old VAT returns. I got a letter back saying that they would not supply that information and did I realise that they had committed an offence under blah blah section about keeping proper records.

Somtimes I think they forget that we are acting as unpaid tax collectors for them.

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By User deleted
23rd Feb 2007 16:46

Thanks :)
Thanks for these replies - I have copies of old accounts/VAT returns/Tax calculations - thankfully the client kept copies of everything ever sent to him!!

I also have copies of Mem & Arts so no problems their either.

My client has tried to contact the old advisor, but to no avail - he seems to have disappeared..................

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Euan's picture
By Euan MacLennan
24th Feb 2007 11:35

I am confused
I thought the question was about statutory books - registers of members, directors, etc., minutes and the like - not about accounting records such as VAT returns, tax calculations, etc.

I agree with Greg that if there are no existing statutory books, you can write up the registers from scratch. I am surprised that you have not come across this circumstance before. Most of the existing company clients that we acquire do not seem to have statutory books. They are evidently not a high priority with many accountants and usually completely ignored by the clients themselves.

You do not need a company seal - the signatures of two officers are sufficient to execute any deed or other formal document on behalf of the company.

I think that the cost of company secretarial software is difficult to justify for a one-man company with no changes - it is a much better proposition for flat management companies. If the company was incorporated electronically, you may well find that the schedules produced by the online formation agents make adequate statutory registers - all you need to add are Minutes as you go along.

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By AnonymousUser
23rd Feb 2007 14:51

Another way
if your client is a limited company, you can get access to any old accounts which have been submitted to Companies House via their website. You can also find other forms like 363 from companies house which may be helpful to you for finding out more about that company. In addition to this you can request copies of tax returns which have been submitted to HMRC either in Corporation capacity or individual capacity of your client i,e any previous tax returns if he is sole-trader. But as your question says it appear to be a limited company. Also if it is VAT registered, you can request copies of VAT returns from VAT department at: Written Enquiries
HM Revenue & Customs
Alexander House
21 Victoria Avenue
Southend-on-sea
SS99 1BD
If you get hold of VAT copies which might have been submitted by old accountant, you can have an idea of Clients business. There are good chances that you get recent VAT returns from them as well helping you to prepare recent accounts. Well this is all assumed if it is VAT registered.

Another way you can ask your client to see his previous accountant himself. may be he will listen to him for the sake of good times (when was getting fee from poor guy) ... ohh these unregulated accountants....
Wish you luck ...

On the basis of any information or accounts you get which have been filed before, you can construct a new set of accounts on any information provided by client and on basis of reasonable prediction made by extrapolating past information as it gives reasonable ground in case of loss of records.

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By Greg Cust
23rd Feb 2007 15:34

MISSING STATUTORY BOOKS
Yes you can reconstruct the statutory books.

Obtain all the information you need by arranging for a comprehensive search at Companies House. Buy a compbined register and write it up.

Obviously you will not have copies of any minutes but it is likely that none have ever been prepared.

You should also purchase a company seal for future use. You can also obatin a copy of the Mem & Arts from Companies House.

As an alternative to buying a Combined Register, you might consider investing in PTP's PC Share Register software which could be used to maintain the statutory records for all your client companies.

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