Company Restoration Service
Our Company Restoration Service is designed to assist companies that have been struck off the register of companies to regain their legal status.
After the company has been restored, it can then either resume its business activities or the business owners can unfreeze assets in the dissolved company.
Our expert team is here to guide you through the restoration process seamlessly. We’ll review the circumstances that led to the strike-off and determine the most appropriate course of action. We’ll work with you to prepare and file all necessary documentation and will communicate with the authorities on your behalf.
When a company has been dissolved it is no longer able to trade. The company is struck off the Register of Companies and in a legal capacity it ceases to exist.
After the company has been dissolved its bank accounts are frozen and any remaining assets are transferred to the Crown. If you decide that you would like to restore the company and unfreeze its assets we can help.
On most occasions, a company will be Involuntarily struck off due to a failure to follow procedures such as the filing of Confirmation Statements with Companies House on time or failing to file annual accounts.
Occasionally a company member or Director will apply to dissolve a company and then when it has been legally dissolved they realise that the company still owns assets or a right to bring a legal claim against a company or institution. This process can be reversed and is called Company Restoration.
Reversing the situation and restoring a company back into a legally trading entity or to a position where assets can be recovered is possible. Callan Accountancy can help you with the process as long as it’s within 6 years of the date of company dissolution. Should the case have to do with a personal injury claim that can be made at any time.
There are two ways to restore a company in Scotland, Restoration through a Court Order or Administrative Restoration. Callan Accountancy can help you with both options.
A company can only be restored through Administrative Restoration if it was struck off while it was carrying out business and not if the company was struck off at its own request.
The application for company restoration must be made within 6 years of the company’s dissolution and must be made by a director or member of the company. If the Registrar restores the company then it’s considered to have continued in existence as if there had never been a dissolvement.
Callan Accountancy would complete all required documentation including any outstanding confirmation statements and waiver letters. This method usually takes between 2 and 4 weeks once all required documentation has been completed and filed.
Restoration by Court Order
If the company was dissolved by a director or member of the company voluntarily filling in a DS01 form the company must be restored via the Courts. This method is open to those seeking frozen assets that are held by the Crown and who don’t wish to continue trading afterwards. If you want the company to continue trading after it’s restored any outstanding company accounts and confirmation statements will be required to be filed. Late filing penalties will have to be paid on restoration only if the company intends to continue trading.
People seeking to make a personal injury claim against a dissolved or struck-off company may also apply for Restoration by Court Order.
The restoration by Court Order method usually takes between 2 and 4 weeks once all required documentation has been completed and filed.
Callan Accountancy offers a free consultation with a professional advisor to talk about the Restoration of your Company. We’ll carefully prepare and submit all documentation and can carry out annual returns if required. Call us now on 0141 204 0930.