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Winding down an insolvent company.

(1 Post)
AbbreviatedAccounts Wed 12-Mar-14 10:21:47

I need a bit of help with this please. It is a small service company that has not been making money for a while but I have been putting my money in marketing, hoping it will take off. No more point kidding myself.

The problem is in the last attempt to get things going I took a 2 year contract with a telecom provider last year. 6 months in and we are insolvent. I looked online at Companies House and gov.uk websites and they imply you have to employ a liquidator. No way I have £2000 plus to do that.

I found an accounting business's website, where they said you can in fact do it yourself for £10. But it seem you can only wind up if there are no claims from creditors. But the company will end up owing money. So what do I do? There are only intangible assets of roughly £100, such as leaflet design artwork.

I contacted the company that we will end up owning money too and they said if we should the paperwork that we are dissolved, they will rethink the debt. But it doesn't seem I can dissolve company, if there is a debt confused.

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