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Company Statement Of Affairs For CAC And FIRS Applications by innerkonsult1: 11:06am On Sep 06, 2019 |
Company Statement of Affairs The Statement of Affair is a summary of a Company’s assets and liabilities. It states the net book value and amount expected to realise at the date of Insolvency of the business. It provides a useful source of information for both the Administrator and the creditors. And It is often referred to by lenders should directors get involved in new ventures before lending to the new company to understand how serious the previous insolvency was. The SOA may also be considered when determining whether a director should be disqualified. Its analysis can be used to establish: The likely return to creditors The extent of the insolvency Whether the directors have concealed assets from the administrator Whether there are indications of wrongful trading Once the administration is complete the actual performance of the administrator. Filing of Statement of Affairs for CAC and FIRS Applications For CAC Filing of Annual Returns, requirement include: Audited financial statement or statement of affairs for "Small Companies" signed by 2 directors and duly certified by a chartered accountant where applicable. Small companies include Company with authorised share capital of less than N2million Company with annual turnover of less than N2million Company with no allien or foreign national member or government agent or nominee. Where the directors among them hold more than 51% of the alloted share capital. For FIRS Filling of annual return, requirement include: Company Statement of Affairs whereby the company is yet to commence business or/and audited financial statement signed by a director and duly certified by a chartered accountant where applicable Payment of fees Source: Marylea Contact InnerKonsult for Professional Services on Tax, Accountancy and CAC Services. O8038460036, www.innerkonsult.com |
Re: Company Statement Of Affairs For CAC And FIRS Applications by Nickisindigo(m): 11:54am On Sep 06, 2019 |
how much is it to create a limited company with 1million share capital |
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