| T O P I C R E V I E W |
| Mr.E.Guest |
Posted - 21 January 2009 : 11:09:07
Hi All,
We are in the process of winding up our business and also going BR.
Our company has to have ceased trading for 3 months to be "struck off" which should be around March/April - we will be applying for BR next month.
However - the company has a stock asset worth around £5000 - I could not sell it last year as no one wanted it but now I have a buyer (the guy who sold it to us) he is willing to take it for around £500 less than we paid.
Question is can I sell it - my company, which he would make the payment to has ceased trading - I can't accept the payment as its the company's property but if I declare the stock to the OR when we eventualy go BR the buyer will have moved on and the OR will realy struggle to dispose of the stock...
I can get a good price now - does anyone have any advise?
Cheers
Tim
What doesn't kill you makes you stronger (I hope ;-) |
| 9 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 22 January 2009 : 10:37:22
Fantastic Tim, I'll bear that in mind!!!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Mr.E.Guest |
Posted - 22 January 2009 : 10:27:22
Yes - If you ever pull your Forum get together off then you know where to come for a comemorative mug 
What doesn't kill you makes you stronger (I hope ;-) |
| JulianDonnelly |
Posted - 22 January 2009 : 10:17:34
Either that, or a ton of tea bags!!!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Reviva UK |
Posted - 22 January 2009 : 10:05:16
Hi
I assume you had a mug printing devide too?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| JulianDonnelly |
Posted - 22 January 2009 : 09:33:32
Hi Tim,
I would suggest speaking to one of my colleagues on the helpline who should be able to advise you further.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
| Mr.E.Guest |
Posted - 22 January 2009 : 09:28:49
8000 white mugs!
What doesn't kill you makes you stronger (I hope ;-) |
| Reviva UK |
Posted - 21 January 2009 : 18:37:21
Hi
As Julian suggests either call the helpline or speak to a bankruptcy expert with company experience.
It can get sorted out.
Incidentally what is the asset in question?
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
| Mr.E.Guest |
Posted - 21 January 2009 : 15:31:54
Hi Julian,
This is the ONLY asset we have - we have looked at liquidation specialists and we can't afford what has been quoted (£5000) to be honest we can't afford even £500.
So thats a catch 22? We cant do a simple "strike off" because we have an asset and we can't liquidate because we have no money...
What to do 
What doesn't kill you makes you stronger (I hope ;-) |
| JulianDonnelly |
Posted - 21 January 2009 : 14:58:13
Hi Tim,
If you have a limited company with assets, it is usual to have to perform a full liquidation rather than a company dissolution which is what you are proposing. The accounts will be scruitinised by the OR so you will have to explain what happened to the asset. I would recommend speaking to a specialist in this area before taking any action.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
