Winding up a dormant company

T

trg

Registered User
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90
Hi,

Just wish to confirm (or be educated!) a couple of things:

To wind up a dormant company that was never registered for any tax and the only creditors are 2 directors and 1 shareholder, €500 each, does a letter of forgiveness from directors satisfy as removal of debt thus clearing the current liabilities?

Droll situation, they traded for a manner of weeks and then just quit, they received bad advice and realised quickly they were going the wrong way about it.

Balance sheet is
Directors A/c (1,002)
Other creditors (500)

Reserve 1000
OSC 2

If the creditors forgive the debt officially then can the company be deemed to be solvent and apply for voluntary wind-up?

If it cant then it'll just lie there and the B1's will continually have to be filed but they forgot this year and got hit with audit and late filing fees, utter waste.
 
If you clear all the debts, you can ask to have the company stroke off. Here is the details from the [broken link removed]. Much cheaper than going through a wind up.

Jim2007
 
Who are the other creditors.
If you file the H15 and they still exist you can't really claim that the company has no creditors.
 
The other creditor is a shareholder and returns are up to date alright.
Does the letter of debt forgiveness satisfy as clearing the debts for strike-off purposes?
From recollection the auditor would have signed that there was no going concern issue so should talk with him also. Best keep him involved anyway
 
No need to talk to the auditor. If you have letters from all creditors stating that they waive the debt you can sign the H15 saying the company has no assets or liabilities.

Need to get letter of no objection and ad in national newspaper.
 
Hi

Whats missing from the balance sheet

1002+500 does not equal 2+1000.

Kind Regards

capnhand
 
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