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All limited companies are required by law to file annual accounts at Companies House, however, if your company is dormant, it does not need to file full accounts. Instead, it is only required to file an abbreviated version of accounts, known as dormant company accounts.
If your company is dormant and has never traded since the date of incorporation, Quality Company Formations will be able to prepare and file dormant company accounts within 48 to 72 hours.
Failure to file your company’s annual accounts on time will result in a late filing penalty from Companies House.
A dormant company is a new company that has not started trading, or a company that has not traded within the current financial year, i.e. it has had ‘no significant accounting transactions’ during the financial year.
If a company has had no significant accounting transactions in the financial year, it can be classified as dormant; however, if it has settled an invoice, paid bank charges, bank interest, paid employees, or paid dividends to shareholders, it will lose its dormant status, as these are all examples of significant accounting transactions.
Exclusions to the rule are: payment for shares issued at the time of incorporation, late filing penalties, and filing fees paid to Companies House.
Companies with dormant company status only need to file an abbreviated form of accounts to Companies House. These abbreviated accounts are known as dormant company accounts, and they represent a considerable benefit, as they reduce the statutory burden of filing profit and loss accounts and a director’s report.
If you formed your company using our website, then we will only need to know your company name and number, and if your shares are paid or unpaid, i.e. have the shareholders paid the company for the shares issued to them?
If you did not form your company using our website, we will require your company name and number, webfiling authentication code, shares paid or unpaid, and the name of one director.
It usually takes 48 to 72 hours to prepare and file dormant company accounts with Companies House (subject to having the webfiling authentication code and other required information). We recommend you order the service at least 7 days prior to the due date.
Please note: We cannot take responsibility for any late filing penalties or fines if your order was not submitted at least 7 days from the due date.
This service is only available to clients whose limited company or companies have never traded, since the date of incorporation.
This service is not available to Limited Liability Partnerships.
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