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Georgie


Guru

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Assets
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Hi,

I have a client who wants to make his company dormant. His accounts have just been done and I've explained that there should be no movement in the accounts and he has closed the business bank account. So  what would  happen to the assets of the company, for example the laptop? At the moment it's sitting on the balance sheet but he would like to sell it

Georgie



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Cheshire


Master Book-keeper

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Posts: 8646
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Hi Georgie
It sounds a bit cake and eat it. Also - Im wondering if he is thinking of the company as non trading rather than dormant. Or even winding it down ready for strike off. Would check his intentions as to why he wants to maintain the company as dormant as that might give you a better idea. But my understanding is that this will mean that its not dormant as the disposal would need to be reflected in the accounts, along with disposal proceeds and any other adjustments.

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Georgie


Guru

Status: Offline
Posts: 700
Date:
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Hi Joanne

I don't think he knows what he wants to do but I agree it's a cake and eat it.

Georgie

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