You still require the firm, but it was taken off the register. There are numerous reasons why a company could be struck off the registry or dissolved. Either the board of directors made the decision or Companies House removed the firm for failing to file the required paperwork.
There are several accounts from numerous people who have discussed their experiences with firms that have been dissolved and struck from the company registry even if the directors or shareholders still need them. Your UK limited company may be reinstated after it has been dissolved by requesting “Administrative Restoration” or by “Court Order.”
Administrative restoration
If a firm was removed from the register because it didn’t appear to be operating anymore or because it failed to submit paperwork, administrative restoration can be finished. To restore the company to the public register, the corporation must apply to Companies House, the registrar of companies. Additional documents are often attached to the application to update the filing history.
Your firm is added to the register as if it had never been disbanded if the company has been restored through administrative restoration. This indicates that your statutory documents’ filing deadlines won’t change. The business can then carry on as usual at that point.
The company may also be required to submit any accounts, confirmation statements, or other paperwork that was overdue at the time of dissolution, in addition to the company restoration application, filing fees, and any outstanding fines. Additionally, the business must file any documentation that would have needed to be submitted before the dissolution. It must update all paperwork as though it had continued to exist. A director appointed at the time the company was dissolved must sign administrative restoration forms.
Court order restoration
Obtaining a court order is the way to restore a corporation that was voluntarily dissolved by one of the directors. Former directors, liquidators, parties with legal claims against the firm, and anybody the court determines to have an interest in the corporation may all submit applications for this.
It is advisable to contact a lawyer who specializes in company law if you wish to rebuild a corporation because there are legal difficulties that need to be resolved. If the dissolution date was on or after October 1, 2009, the company may be reinstated by court order up to six years after it was struck off the register. If the Dissolution date was earlier than this window, you must speak with Companies House directly for more advice.
Company’s name upon restoration
A firm must be allowed to register using the name it used before being dissolved. However, it’s possible that while the firm was being dissolved, another business started operating under a name that is the same as or similar to it. In this situation, the company cannot operate under its previous name. It must be restored with a distinctive name. In the event of administrative restoration, the firm may provide its alternate name on Form RT01, and in the event of administrative restoration under a court order, it shall submit its application to the court. Additionally, the corporation is reinstated with its registered number as if it were its name if no alternate name is given in these petitions.
The company must choose its name with the approval of the directors if it is restored with a registered number as its name, and it must notify ROC of that decision within 14 days after restoration.
Conclusion
Payment of fines, filing costs, application fees, etc. is required as part of the process of reviving a dissolved corporation, which can occasionally be expensive. Therefore, it’s crucial to balance the expenditures of the restoration procedure with the advantages that the organization stands to gain from it. The restoration process should only be taken into consideration if it appears to be a practical possibility.
