Every limited company in the UK is required to file accounts on an annual basis. If your company is classified as dormant (not trading), you do not need to file full accounts, however, you are required to file dormant company accounts.
1st Formations provide a dormant account filing service for limited companies, regardless of whether the company was incorporated using our website. The process is simple and should take no longer than 3 to 5 working days (excluding weekends and bank holidays).
The cost of our dormant company accounts service is £39.99 plus VAT.
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Frequently asked questions
What is a dormant company?
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.What is classified as a significant accounting transaction?
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.What are dormant company accounts?
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.
What information is required to file dormant company accounts?
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?
How long does it take?
It usually takes 3 to 5 working days 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.
Who can use this service?
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.