Dormant Company Audit Exemption - Company Formation - UK Registration Services

Dormant company accounts are generally not audited and therefore the requirement to appoint auditor is not relevant in these cases.

As most people use dormant company formation to protect the name of an entity, the likelihood of trading transactions is minimal.

The form which dormant accounts take are a simplified version of small company accounts and consist only of some of the standard pages. The profit and loss account for example would provide no valuable information if the company has not traded and therefore can be left out.

Requirements relating to filing deadlines are similar to those for small private companies.

The exceptions to the rule regarding the filing of dormant company accounts relate to:

• Where the dormant company is part of a group
• Where the dormant company is listed or a PLC
• Where the company id regulated by the FSA to carryout investment business

1. Forming A Company Just Became Easier

2. Statutory Requirements For New Companies

• Issue and Allotment of Shares
• Transfer of Shares
• Dividends
• Company Meetings
• Company Notices
• Directors Meetings
• Single Member Companies

3. Non Profit Organisations

• Options for incorporated not-for-profit organisations
• Companies House Coding System
• Non s30 companies
• Royal Charter
• Charitable Companies

4. Company Directors and Secretaries

• An introduction to limited companies
• Role and duties of a company director
• Role and duties of a company secretary
• What you have to send to Companies House
• Quality of company documents
• Further information

5. Annual Returns

• Completing an annual return
• Completing the shuttle annual return Form 363s

6. Accounts and Accounting Reference Dates

• Accounting reference dates
• Submitting accounts to Companies House
• What if the accounts are delivered late?
• Small and medium sized companies accounts submission
• Very small company audit exemptions
• Audit exemptions and accounts to shareholders
• Exemption from audits for dormant companies
• What happens if my company starts trading again?
• Partnership accounts

7. Company Auditors

• Appointment of auditors
• Dormant company audit exemption
• What and who are recognised supervisory bodies?
• Removal of auditors

8. Share Capital and Prospectuses

• Share capital
• What is issued capital?
• Non-cash payments?
• Are there different types of shares?
• Can class rights be amended?
• Redemption and purchase of own shares?
• Prospectuses and listing particulars

9. Late Filing Penalties

• Late filing penalties
• Late filing penalties need not be necessary
• Once a late filing penalty has been imposed
• Further information

10. The Costs and Benefits of Company Registration

• Company Formation Introduction
• Costs and benefits of limited liability
• Restrictions and costs of setting up a company I
• Restrictions and costs of setting up a company II
• Restrictions and costs of setting up a company III
• Restrictions and costs of setting up a company IV
• The registration of company names
• The company’s constitution and the ultra vires rule
• Summary and conclusions

9. Late Filing Penalties

• Late filing penalties explained
• How to avoid late filing penalties
• Once a late filing penalty has been imposed
• Further information

10. The Costs and Benefits of Company Registration

• Company Formation Introduction
• Costs and benefits of limited liability
• Restrictions and costs of setting up a company I
• Restrictions and costs of setting up a company II
• Restrictions and costs of setting up a company III
• Restrictions and costs of setting up a company IV
• The registration of company names
• The company’s constitution and the ultra vires rule
• Summary and conclusions