Frequently Asked Questions

The Companies Act doesn't give an age limit for a director to be appointed in England & Wales, but the person must be able to consent to their own appointment.

You cannot be a company director of a Limited Company if you are an undischarged bankrupt or disqualified by a court from holding a directorship, unless given leave to act in respect of a particular company or companies.

The registered office is an address in England or Wales (or Scotland if your company is registered there) where documents can be delivered to the company. If a companies registered office address changes, Companies House must be notified on Form 287.

The Memorandum of Association document comprises the following:

The name of the company
Where the registered office of the company is located
What the company will do (its objects)

Depending on the type of company being incorporated, other clauses may be included.

All companies must have a fixed sign or the company name painted on the outside of every office or place where its business is carried out (including director's homes). The name must be legible, visible and maintained.

Companies House require all companies to file an annual return at least once per year. 28 days grace is given from the date to which the return is made up to do this.

Companies House will send you a pre-printed 'shuttle' form to the registered office a few weeks before the anniversary of incorporation date to assist you with the annual return filing requirement. This form will have the information you have provided previously.

You will have to:

Check all details are still current
Amend incorrect details
Sign, date and return the form within 28 days of the date of the return

N.B. A £15 filing fee has to be sent to Companies House with the annual return.

To transfer the original subscriber share to the new shareholder, use the stock transfer form (J10).

Form 88(2) should be completed and sent to the registrar of companies if you wish to issue further shares up to the authorised share capital.

A company's first accounts must start on the day of incorporation. The accounting reference date or a date within 7 days either side of this date must be used as the end of the first financial year.

Future accounts must start on the day following the year end date of the previous accounts and will end on the next accounting reference date or a date within 7 days either side.

Sending form 225 to the Registrar can be used to change the accounting reference date. This must be done during the period allowed for delivering the associated accounts or during the accounting period affected by the change.

A private company's first accounts must be delivered:

Within 10 months of the end of the accounting reference period, or
If the accounting reference period is longer than 12 months, within 22 months of the date of incorporation, or 3 months from the end of the accounting reference period, whichever is longer.

The date in each year to which accounts will be drawn up is called the accounting reference date. This date is relative to the date of incorporation as it is the last day of the month in which the anniversary of incorporation falls.

e.g. If your company is incorporated on 5th August this year, the accounting reference date will be 31st August, and the company's first financial year must end on 31st August the following year (or within 7 days of this date).

Not sending the relevant information to Companies House on time may affect your company's credit rating or cause trading problems.

Potential clients will not have access to up to date records about your company and you may be prevented from obtaining a loan when you need it or even deter potential investors.

Guidance booklets and forms can be obtained from Companies House or contact us at Premier Company Services UK Ltd.

The name of the company, where the company is registered and the company number must be stated on the following:

All official company publications and notices
Business cards and compliment slips
Business letterheads
Cheques, endorsements, bills of exchange etc.

Basically, the company details must be shown on all company documentation.

The Articles of Association document sets out the rules for the running of the companies internal affairs.

Formally appointed company officers are required by every company at all times.

A private company must have at least:

One director
One secretary (A company's sole director can't also be the company secretary)

Companies House must be informed when:

An officer resigns from the company (use form 288b)
A new officer is appointed (use form 288a)
An officer's name or address changes (use form 288c)

You can obtain Inland Revenue information either from your accountant or the Inland Revenue Service.

You should get professional advice on whether to register for VAT either from an accountant or from the VAT Office Information Service.

As a rule of thumb, if you sell to the public you will be able charge a lower price if you do not charge VAT. Registration for VAT is compulsory, however, once your business turnover exceeds a certain figure.

Further information can be found at the VAT Office Information Service.

If your private company has not traded or carried on business for at least 3 months, you can apply to the Registrar to be struck off the register.