Closing a limited company
I have a client for whom I have just prepared accounts. The company is closing and currently there is a P/L reserve from last year that was not taken as dividends.
Using roung numbers, this year profit is 25k, there is 10k in p/l reserve. I am assuming that to close the company permanently, I have to pay the full 35k dividend to the director and ensure any debts are also cleared from the B/S. Also what do you have to do with regards the fixed assets? Not much but probably 3k worth.