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User Guide - Dormant Companies |
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Abbreviated
Accounts are the default Accounts Type in TDF. But it also
handles Dormant Accounts. Two types of dormancy are recognized. For
companies which have never traded the short Dormant Company Accounts
(DCA) format is used - Share Capital details and a couple of current
asset elements. For companies which have traded in earlier periods, but
are dormant in the current year, the abbreviated format is used
(bringing forward the residual balance sheet items from the previous
year) and adding a dormancy note. These are known as Residual Dormant
Companies. DORMANT COMPANY ACCOUNTS (DCA) To create DCA type accounts you select this option on the Add New Company form. TDF will then recognize this option throughout the creation and filing process. In subsequent years of dormancy this option is automatically set up, thus duplicating the DCA accounts without amendment. If a DCA company commences trading, you must deselect the DCA option on the Add New Year form and TDF will treat the company as a normal trading company and produce Abbreviated accounts. RESIDUAL DORMANT COMPANY ACCOUNTS If a formerly active company is dormant in the current year, DO NOT select the DCA option - abbreviated accounts are required for such companies. Instead, on the ACCOUNTS DATA screen, select Abbreviated & Dormant in the Accounts Data screen, select Abbreviated & Dormant in the Accounts Type selector and enter or import the data as usual. (The balance sheet amounts will, usually, be the same as the previous year). A note of the current year's dormancy will be automatically added to the rendered accounts.
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