Companies Listed for Strike Off with the CRO – An Overview
A review of Companies Registration Office (CRO) records shows that 7,838 companies are currently recorded with a status of “Strike Off Listed”.
Under CRO procedures, where no corrective filings are made, companies with this status will ordinarily progress to “Struck Off” and then to “Dissolved”.
Company Strike Offs – Recent Trends
Over the past four years, an average of 6,557 companies per year have been removed from the register on a voluntary basis using the Form H1 strike‑off process (More details on this process available HERE).
As such, we can assume that there are approximately 1,300 companies which are about to be struck off on an in-voluntary basis in the very near future.
What Happens When a Company Is Struck Off?
Where a company is struck off the register involuntarily, a range of legal and administrative consequences may arise.
These can include:
Complications with company assets: If the company has any assets on its dissolution date, technically they become the property of the State;
Loss of Limited Liability: Upon dissolution, the Company ceases to exist as a legal entity . The protection of limited liability is lost with effect from their dissolution date, and if the business formerly carried on through the company is continued, the owners are trading in their personal capacity and take on personal liability;
Complications with Bank Accounts: When a company is struck off its bank will freeze any accounts which it holds, which causes obvious difficulties for day to day trading.
Business Reputation: The company and its Directors will suffer reputational damage in the wider business community and with credit ratings agencies who may down grade their score;
Further Legal Action: Where a company has been struck off for failure to file annual returns, application may be made to the High Court by the Corporate Enforcement Authority (CEA) for an order pursuant to section 842(h) Companies Act 2014, disqualifying the company’s directors from acting as directors or having any involvement in the management of any company;
How to Check Company Strike Off Status?
Directors, company secretaries, and professional advisers may wish to review the status of companies under their responsibility. Company status can be checked directly with the Companies Registration Office using the CORE online system HERE:
Company Secretarial and CRO Compliance Support
CFI provide a range of support services in relation to CRO compliance and strike‑off matters, including:
- Preparation and filing of outstanding Annual Returns
- Liaison with accountants regarding the preparation and audit of Financial Statements, where required
- Restoration of companies to the register following strike off
- Preparation of Section 343 applications to the District Court, which can:
- Extend the Annual Return Date
- Remove late filing penalties
- Restore audit exemption
- Ongoing support through our Company Secretarial Maintenance program, ensuring statutory filing deadlines are continually monitored and managed.
If you would like more information on any of the above services, please contact us at [email protected] or through our contact form HERE
Disclaimer: This article is for general informational purposes only. All content is provided in good faith; however, we make no representation or warranty of any kind regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information. All or any information is subject to change. This post does not constitute legal, financial, or professional advice. Always seek the advice of a qualified professional or legal advisor with any questions you may have. CFI are not liable for any loss or damage arising from your use of the information contained in this Article.
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