A company can apply to the registrar to be struck off the register and dissolved.
The company can do this if it’s no longer needed, for example if:
the directors wish to retire and there is no one to take over the running of the company
the company is a subsidiary whose name is no longer needed
the company was originally set up to exploit an idea that turned out not to be feasible
Some companies which are dormant or no longer trading can choose to apply for strike off. If you have decided that you do not want to retain your company and wish to have it struck off, the registrar will not normally pursue any outstanding late filing penalties unless you restore the company to the register at a later stage.
This procedure is not an alternative to formal insolvency proceedings where these are appropriate. Even if the company is struck off and dissolved, creditors and others could apply for the company to be restored to the register.