A common fate for many limited companies is to close. Contrary to popular belief, this isn’t always down to financial hardship. While that certainly is one reason for a limited company to close, there are many others. Retirement and transition to different roles being noteworthy examples. Though this is a common occurrence, one largely understood by most people at a glance. One aspect is left unclear – what happens to the assets of a struck-off company?

1. What Happens to
the Assets of a
Struck-Off Limited
Company?

2. Agenda
 What is a company strike-off?
 What happens to the assets?
 What happens to company-owned
land?
 ConTeTra can help
9/3/20XX Presentation Title 2

3. Introduction
 A common fate for many limited companies is to close.
 Contrary to popular belief, this isn’t always down to financial
hardship. While that certainly is one reason for a limited company
to close, there are many others.
 Retirement and transition to different roles being noteworthy
examples.
 Though this is a common occurrence, one largely understood by
most people at a glance. One aspect is left unclear – what
happens to the assets of a struck-off company?
9/3/20XX Presentation Title 3

4. What is a
Company
Strike-off?

5. What is a Company Strike-Off?
9/3/20XX Presentation Title 5
A company strike-off, often referred to as a dissolution, is the process of removing a company from
the Companies House register. At the end of the process, a struck-off company will be closed and no
longer exist.
There are two types of company strike-offs – voluntary and compulsory.
A voluntary strike-off is initiated by a company’s directors, and for a whole host of reasons. While
retirement and a role change are two aforementioned reasons, countless others could inspire
directors to wind down operations.
Directors will file a DS01 form, applying for the strike-off. A notice will be published in the Gazette.
This allows for a two-month window in which to object to the strike-off.
If none are made, the company will close, and the process will end. However, for companies
experiencing financial hardship, a voluntary strike-off is not the way forward.
In fact, if the problem is allowed to get out of control, the company may be forced into a compulsory
strike-off. Which can be disastrous for an insolvent company and its directors.

6. What Happens
to the Assets?

7. What Happens to the Assets?
9/3/20XX Presentation Title 7
When a company is being struck off, the directors are responsible for disposing of the assets before
the process ends.
During a voluntary strike-off, this means that directors must either liquidate any assets and keep the
money, or transfer them elsewhere.
If neither of these options is taken, then the assets, including company accounts, will be transferred
to the Crown upon the company’s closing.

8. What Happens
to Company-
Owned Land?

9. What happens to company-owned land?
For some companies, land will be a part of their list of assets. Given that land is quite
different to most other company assets, it is often treated differently.
Unlike other assets, the Crown may well leave company land alone. The Crown wants
to make as much money as possible in the shortest space of time. As land often comes
with maintenance costs, it doesn’t always make sense to hold.
A prime example of such an occurrence is leasehold land. Leasehold land comes with a
recurring cost. If there is a lot of time left on the contract, the Crown will end up
paying a hefty fee in order to keep it.
Conversely, if the land is a freehold and lacks any notable maintenance costs, the
Crown will likely press its right to take ownership of the land. Selling it on if it finds a
buyer.
9/3/20XX Presentation Title 9

10. Contetra Can
Help

11. ConTeTra Can Help
• If your company is facing financial hardship, then it might be best to explore your options for winding
down operations. Strike That is A Service That Helps You Get The Details Of “STRUCK OFF”
Companies, for Hassle-free Compliance With The New Mandatory
Disclosure Requirement Of Schedule III.
• ConTeTra provides solution for below Two Steps only-
9/3/20XX Presentation Title 11
Upload your list of vendors/suppliers
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12. Contact Us
Website :
https://contetra.com/strike-
that/
Email Id :
tejas.savla@contetra.com
Phone No : 98338 18857