I've run a small business for the past 5 years. Covid has taken its toll over the last few years and my turnover has gone from 20k per year to less than 5k. The company made a very small profit (something in the order of 300 pounds) in 2019-20 but I don't think it's generated any real profit since then. I've never drawn funds down to pay myself and the company owes me 2k yearly in dividends which it's never been able to afford to pay me.
The company did have numerous assets but a recent electrical fire in my garage has ensured that most of them have been damaged beyond repair and it'll cost too much to replace them. On top of that, a competitor in the USA has managed to pull the source code from my website and now offers exactly the same product at a lower cost - so really, I've got no option but to shutdown my business to save my own sanity! (I work full time too and really can't take many more of these kicks).
I have just over 1k in the business bank account and I was really hoping I could actually just pay myself a portion of the dividends owed to me with that (considering my own effrots in running the business over the last 5 years I figured it was only fair!)
My accountant charges 500 pounds for preparing and filing accounts and has not budged on that figure since incorporation. I'm loathe to hand over such an amount for dealing with the accounts which basically consists of less than 50 transactions for the year.
The accounts for 2020-21 will be due by August and have yet to be prepared. Other than the dividends owed to me, the company has no debts.
Is it possible to apply to strike off the company, retain what little funds I have (in order to pay myself) and just cease all trading, while keeping expenses to a minumum?