Small Ltd Co Incorporated Nov 13. 18 months and two days later they have decided to close the Ltd Co and write off the directors loan accounts (CR balances).
I will have to do 2 sets of accounts I think:
1. Nov 13 - Dec 14.
2. Jan 15 - closure (presumably we wait until all bills are paid and the bank account is closed)
My question is, how do I deal with the Dec 14 accounts in light of the knowledge that the business has ceased trading (officially 31/05/2015). Do I change to a break up basis?
What do I disclose?
Many thanks
Replies (12)
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There is still time to change the accounting reference date to that you only have to produce one set of accounts.
If you do that the question you ask will not arise.
There may possibly be a dormant period at the start...
... which you may be able to reduce the the first ARD and to take the second period to less than 18 months.
edit. having looked at the post again, why is the first ARD to 31/12/14 and not 30/11/14? Has the accounting period already been extented? if so then my suggestion would not work as this would result in extending accounting periods more than once in 5 years.
No it can't
Sorry I misread the question as saying trading ceased in January. Did much happen in the last two days?
If there was no trading in those two days then an 18 month period will include all the trading there was.
If the first ARD was extended from 30/11/14......
... can it be extended again so soon?
Date of incorp was in Nov 13 and I would therefore expect the first ARD to be 30/11/14. As it is 31/12/14 I can only assume that it has been extended.
Yes I think so provided the filing deadline has not passed, which in this case it hasn't.
There are rules to prevent the extending of two or more successive periods. But this is extending the same period twice, which as far as I am aware there is no rule to prevent.
Form DS01
I will contact Companies House and ask if the same period can be extended twice.
I wouldn't. I would just file the change.
Once this is all done, how do they get rid of the Ltd Co?
Form DS01
You wouldn't have this problem if you had heeded my advice not to contact Companies House.
If you are adamant that you need advance clearance from Companies House of what you propose to do (why is beyond me) you should get back on the phone with a copy of CA 2006 s392 (3) in front of you.