Closed down my Ltd company about ten years ago. Not IT/ Contract based but one director/ employee and similar scenario regarding no debts, cash in bank etc.

As you have no Creditors, Liquidation (voluntary or otherwise) can be avoided. I opted to dissolve. Simple process to strike the business of the Companies Register. Think the fee was £10.00 and there was a requirement to file an application with Companies House. From memory basic criteria was the business had not traded for three months. I closed my business bank accounts in the interim.

Received notice from Companies House that the form had been completed correctly. Second correspondence to indicate the intention to dissolve had gone in the London Gazette to ensure no potential creditors come forward to object. Assuming they don’t a final entry is made in the LG to confirm the business has been “struck off”.

All quite painless.