Apply to strike off. To apply to strike off your limited company, you must send Companies House form DS01. The form must be signed by a majority of the company's directors. You should deal with any of the assets of the company before applying, e.g. close any bank accounts and transfer any domain names.
Defunct, in a business context, refers to the condition of a company, whether publicly traded or private, that has gone bankrupt and ceased to exist. In general, "defunct" refers to something that is no longer existing , functioning, or in use.
It takes at least 3 months for a company to be officially dissolved, but the length of time can vary considerably if the process is complex. Generally, however, a company will cease to exist no less than 3 months of the winding-up notice being advertised in the Gazette.
Liquidation is when a company's assets are extracted and used to pay off any remaining debts before that company is dissolved. Creditors' voluntary liquidation (CVL): generally appropriate in situations where you and your shareholders conclude that the company is unable to pay its debts.
Usually, if you are a director (or acting as a director), you are not personally liable for paying the company's debts. This means that if the limited company does not pay its debts and a creditor takes court action, only the company assets are at risk. However, you can be made personally liable for the following.