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What is a Dormant Company?
A dormant company is a limited company that has been registered, appointed directors and has all required documents in place but the company isn't trading and therefore no transactions that need to be accounted.
The company may have ceased trading, or plan to trade in the future or the dormant company may have been set up to protect a brand name to stop others from using it.
You will still be required to submit an annual return to Companies House.
However, if there have been no transactions in the current financial year or if the company has never traded before annual accounts can be filed via a Form DCA.
There is no limit on the time a company can remain dormant but there are costs and administration involved with keeping a company registered.
There is an annual fee payable each year for the submission of an annual return and also the submission of balance sheets to Companies House so it needs to be decided who will pay these fees and who will be responsible for ensuring all required documentation is kept up to date in line with current legislation.
Alternatively, if the dormant company is no longer required you can request that it is struck off the register either by:
applying for 'voluntary striking-off and dissolution' so that you do not need to go through the formal insolvency process.
or
'voluntary liquidation' if the company still has business affairs to sort out.
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