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can you resurrect a limited company?
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# 1
Deals
Old 09-02-2012, 12:04 PM
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Default can you resurrect a limited company?

what is involved etc? my other half should have gone ltd and i am lookign at whether i take it over but i might want it resurrect as ltd as it once was. thanks in advance for any tips.
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# 2
spadoosh
Old 09-02-2012, 12:06 PM
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Yeh, essentially most Ltd companies a ressurected companies. Its very rare a 'new' company is created. Get onto companies house and see if its already been taken, you know the company no.?
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# 3
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Old 09-02-2012, 12:09 PM
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Default does it cost anything to resurrect?

someone said something about you have to get a court writ or something . thanks in advance!!
Quote:
Originally Posted by spadoosh View Post
Yeh, essentially most Ltd companies a ressurected companies. Its very rare a 'new' company is created. Get onto companies house and see if its already been taken, you know the company no.?
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# 4
Pennywise
Old 09-02-2012, 12:18 PM
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Quote:
Originally Posted by spadoosh View Post
Yeh, essentially most Ltd companies a ressurected companies. Its very rare a 'new' company is created. Get onto companies house and see if its already been taken, you know the company no.?
That's not true at all. 3.4 million new companies were formed in the past decade. There are few reasons why anyone would want to restore a company or use someone else's, especially when it's as cheap as 25 or so to form a new one.

For details of restoring a company, have a look at Co House website:-

http://www.companieshouse.gov.uk/inf...ikingOff.shtml
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# 5
spadoosh
Old 09-02-2012, 12:59 PM
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Quote:
Originally Posted by Pennywise View Post
That's not true at all. 3.4 million new companies were formed in the past decade. There are few reasons why anyone would want to restore a company or use someone else's, especially when it's as cheap as 25 or so to form a new one.

For details of restoring a company, have a look at Co House website:-

http://www.companieshouse.gov.uk/inf...ikingOff.shtml
It is completely true. I think youll find legally speaking they are not 'new' companies merely companies that have been incorporated. To set up a new company costs considerably more than 25, Most businesses that do company registering buy 000's of dead businesses then simply alter the details to fit the new director and company. This is not a new company

Please dont assume you are correct all the time because on this occasion you are not.
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heathcote123
Old 09-02-2012, 1:20 PM
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Quote:
Originally Posted by spadoosh View Post
It is completely true. I think youll find legally speaking they are not 'new' companies merely companies that have been incorporated. To set up a new company costs considerably more than 25, Most businesses that do company registering buy 000's of dead businesses then simply alter the details to fit the new director and company. This is not a new company

Please dont assume you are correct all the time because on this occasion you are not.

Can't see any of the formation comapanies mentioning that.

Do do they change the company number as well as the directors etc?

Presumably they'd have to to avoid confusion?

Last edited by heathcote123; 09-02-2012 at 1:25 PM.
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# 7
WhiteHorse
Old 09-02-2012, 1:29 PM
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Quote:
Originally Posted by Deals View Post
what is involved etc? my other half should have gone ltd and i am lookign at whether i take it over but i might want it resurrect as ltd as it once was. thanks in advance for any tips.
This doesn't make sense.

Quote:
Originally Posted by spadoosh
Yeh, essentially most Ltd companies a ressurected companies. Its very rare a 'new' company is created.
No. 'Resurrecting' a company by reusing the name from a previously dissolved company is usually avoided because of the baggage that usually comes with it. There are also restrictions on reusing a name.

Quote:
Originally Posted by spadoosh
It is completely true. I think youll find legally speaking they are not 'new' companies merely companies that have been incorporated.
As far as it goes, this is true.

However, they have been ready-made by incorporation agents. That's why they are called 'off the shelf' companies.

Quote:
Originally Posted by spadoosh
]To set up a new company costs considerably more than 25 ...
About 150. You can pay a geat deal more, but you would be paying over the odds.

Quote:
Originally Posted by spadoosh
Most businesses that do company registering buy 000's of dead businesses then simply alter the details to fit the new director and company.
Not dead businesses, No.
&q!!!;!!v!! !!d!!!!!!m!!! !h! m!!d!!!! !!!!! !! ! g!v!!!m!!! !!!!!!!!!!y !!!!!!g !! !xp!!d !!! p!w!!, d!m!!!!! !!d !!dg!!&q!!!; J!y !!!!!!y, !m!!!!!! !!v!! !!!!!!!!! !!!!!.
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# 8
heathcote123
Old 09-02-2012, 1:32 PM
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Quote:
Originally Posted by WhiteHorse View Post
This doesn't make sense.


No. 'Resurrecting' a company by reusing the name from a previously dissolved company is usually avoided because of the baggage that usually comes with it. There are also restrictions on reusing a name.


As far as it goes, this is true.

However, they have been ready-made by incorporation agents. That's why they are called 'off the shelf' companies.


About 150. You can pay a geat deal more, but you would be paying over the odds.


Not dead businesses, No.

it's 40 direct with companies house, and about 250 to resurrect one. So it all seems a bit unlikely.

spadoosh, what makes you think it works this way?, it seems quite illogical.
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WhiteHorse
Old 09-02-2012, 1:34 PM
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Quote:
Originally Posted by heathcote123 View Post
Can't see any of the formation comapanies mentioning that.
Because that's not what they do.

Quote:
Do do they change the company number as well as the directors etc?
No.

This is how it works ... The incorporation agent creates the company and deals with all the initial paperwork. The company now exists.

As the company must have at least one Director and a Company Secretary (the 'Company Officers'), they will simply be staff at the agents office.

When you buy the company off them, you replace them.

You can do all the paperwork yourself, but it's a pain. That's why incorporation agents are so popular.
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# 10
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Old 09-02-2012, 1:39 PM
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Quote:
Originally Posted by heathcote123 View Post
it's 40 direct with companies house, and about 250 to resurrect one.
No ... a basic misunderstanding here.

Once a company is dead ('dissolved'), it's really dead. In law, a company is a person.

You can apply to register a new company with the same name (subject to certain restrictions), but you cannot resurrect one.
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# 11
heathcote123
Old 09-02-2012, 2:15 PM
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Quote:
Originally Posted by WhiteHorse View Post
No ... a basic misunderstanding here.

Once a company is dead ('dissolved'), it's really dead. In law, a company is a person.

You can apply to register a new company with the same name (subject to certain restrictions), but you cannot resurrect one.
Seems to say here it can be restored: http://www.companieshouse.gov.uk/about/gbhtml/gp4.shtml

But I do agree it sound like a bunch of hogwash that anyone would buy up thousands of companies to restore. That would just be silly...
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# 12
Pennywise
Old 09-02-2012, 2:37 PM
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New company formations ARE exactly that - newly formed companies. Just two examples of the cheapest:-

16.99 http://www.companyformations247.co.u...er_bronze.html

17.00 http://www.formationsdirect.com/comp...x#.TzPZq-UcaCk

Both the above are for entirely NEWLY formed same day companies - NOT off the shelf, NOT resurrected.

I've been an accountant for 30 years and have been forming companies for my clients using the above firms for the last few years and can categorically confirm they are brand new, never used nor registered before, etc etc.

I think people are harping back to the old days when it took more time and required statutory swearing infront of a notary to form a company - all that ended years ago with electronic registration.

The 3.5 million figure I quoted is from Co House website of the number of NEWLY FORMED companies.

And YES, you can resurrect a dissolved company - it may have been dead, but you can bring it back to life. It's not just using the same name on a new company, it really is restoring the dissolved company back into life, warts & all.

There seems to be a lot of misinformation and half-truths in this thread.
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# 13
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Old 09-02-2012, 3:57 PM
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Agree with everything Pennywise says. I too have been forming companies for many years, including in other countries. The whole point of forming a limited company is that it is unique - a unique number, unique name hence the convoluted names you'll see on Companies House.

Where "spadoosh" is probably getting mixed up is where you have a PLC which is not active that is a "shell" company. Suppose some really big guns get together, it can be cheaper for them to take over the shell than start a PLC from scratch. WPP plc is the second largest advertising agency in the world and was formed from taking over the "shell" Wire Plastics and Products, a company which had nothing to do with making adverts.

In your case, get the compeny number or name and look it up on Companies House web check. If it says "dormant" then you are free to run your business through it, though you might want to do some share transfers if the shareholdings are not what you want. If it says "dissolved" or anything else like that, forget that company and form a new one.
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# 14
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Old 09-02-2012, 5:15 PM
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Quote:
Originally Posted by Pennywise View Post
New company formations ARE exactly that - newly formed companies. Just two examples of the cheapest:-

.
Do you mind me picking your brains.

I currently have one limited company (10 years old with existing VAT number) and just about to set up another company which will carry out a fairly distinct bit of business.

Once I have done so, can I use VAT 50 to apply for Group VAT registration ?

The reason is that in short term one company will be paying VAT and the other will be in a reclaim position (although the net of the 2 companies will be a payment to HMCE)

What are the potential pitfalls ?




Thanks
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# 15
heathcote123
Old 09-02-2012, 8:56 PM
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Quote:
Originally Posted by Deals View Post
what is involved etc? my other half should have gone ltd and i am lookign at whether i take it over but i might want it resurrect as ltd as it once was. thanks in advance for any tips.
Here is the answer.

http://www.companieshouse.gov.uk/abo.../gp4.shtml#ch4
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