Cessation Accounts

vickidm
vickidm Registered Posts: 12 Regular contributor ⭐ ? ⭐
Hi All,

I wonder if anyone can provide some advice please. A client of mine is Ltd co. They incorp in Nov 11. 1 set of accts to March 31st 2012 have been filed. They now want to dissolve company as of 31st March 13. I know I have to provide cessation accts for this, and i am in the process of preparing balance sheet, p&l to yr end etc. I also understand re informing HMRC and Companies hse and completion of ds01 after 3 mths no trade. However is there anything else I should consider. The only assets they have in the business are 2 x ipads purchased in mar of last yr. The company may have a small profit of £500 if that this yr, and a loss bgt fwd of approx £1000. Any advice on pitfalls, additional information to include/update would be much appreciated. Also, as always I love my back ground reading...so any pointers of where I might read a bit more on this is always appreciated. Thanks everyone for any advice.

Comments

  • vickidm
    vickidm Registered Posts: 12 Regular contributor ⭐ ? ⭐
    Hi all....just bumping this to see if anyone can offer any guidance. Many thanks
  • JodieR
    JodieR Registered Posts: 1,002
    You've got it pretty spot-on already - just treat the ipads as if they were sold at market value in the final accounts. And make sure that after the tax and any other liabilities are paid that you remove any remaining funds out of the bank account as once the company is closed any money left in the account becomes the property of the crown (there is a de-minimus on this, but I can't remember off the top of my head what it is)

    Jodie
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