3. Pepipoo offline again
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Re: Pepipoo offline again
« Reply #45 on: »
Quote from: The Rookie on August 19, 2024, 07:46:36 pm
Quote from: Southpaw82 on August 19, 2024, 04:12:56 pm
Why would any assets go to the directors?

They wouldn’t but they would normally go to the owners (after settling any liabilities) who in this case are the same people (unless their are other shareholders with less than 25%).
Even if the company is struck off?
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I am not qualified to give legal advice in the UK. While I will do my best to help you, you should not rely on my advice as if it was given by a lawyer qualified in the UK.
Re: Pepipoo offline again
« Reply #46 on: »
Quote from: Southpaw82 on August 19, 2024, 08:27:03 pm
Even if the company is struck off?
If left in at the point of strike off, then no (go to the crown), but usually the assets will be emptied before the actual striking off (especially with a voluntary SO where the directors/shareholders can pre-plan).  That could well/likely perhaps have already happened and we would have no way of knowing.
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Re: Pepipoo offline again
« Reply #47 on: »
Quote from: The Rookie on August 20, 2024, 01:08:24 pm
Quote from: Southpaw82 on August 19, 2024, 08:27:03 pm
Even if the company is struck off?
If left in at the point of strike off, then no (go to the crown)

Well, that’s the question posed, isn’t it?
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I am not qualified to give legal advice in the UK. While I will do my best to help you, you should not rely on my advice as if it was given by a lawyer qualified in the UK.
Re: Pepipoo offline again
« Reply #48 on: »
Not as I read it
Quote from: typefish on August 19, 2024, 03:19:59 pm
What would happen to the assets of Pepitec, namely approximately £30k?
Was the question, so the answer is the directors/shareholders have probably removed it already (if they have any sense as it's they who are applying for the strike off), but if left in then it would go to the crown. 

I see no rhyme or reason why they would leave the money in?
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Re: Pepipoo offline again
« Reply #49 on: »
You can see from the timeline on Companies House that the deadline to file accounts (31 May) was missed last year and the company was set for compulsory strike off. That was averted, late accounts filed no doubt with a penalty, accounts filed on time this year, at least 3 months no trading, and Bob's your voluntary strike off.
Any cash will have been taken out but how we have no idea - over £25,000 it has to be paid by dividend I think not capital but there may have been other things in place such as a loan by a director to the company.
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Re: Pepipoo offline again
« Reply #50 on: »
Typically it will have happened. Unless a set of final accounts have been passed to HMRC and any liabilities to them settled HMRC will object (I imagine they sometimes miss one).

I would imagine the value of the assets will be repaid to the shareholders as a distribution (which should be in the final accounts). It could be paid as a capital distribution by concession and with HMRC clearance.

An informal liquidation through strike off is not unusual and cheaper than formal MVL.
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  3. Pepipoo offline again