companies

After the UK limited liability company formation documents have been submitted to Companies House to register the new company Companies House will then send notification to the new registered office that the new company has been incorporated with the Certificate of Incorporation. Following confirmation that the new company has been formed the directors need to take a number of actions to start the new company on the correct footing. Statutory Books and Registers Following the company formation the directors have a legal responsibility to keep a set of statutory registers on behalf of the limited liability company, known as the statutory books. The statutory books to be kept include a statutory register of the appointed directors and their interests, a statutory register of members and a statutory register of charges on the company assets. The majority of company formation agents provide templates for the statutory registers The statutory register of directors should include the f...

A dormant company in the UK is defined as a company that has had no significant accounting transactions during its financial year. It is not sufficient that the company may not have traded if the company has had any accounting transactions at all with the exception of three specific transactions that are allowed. Transactions regarded as allowable for the company to retain its dormant company status are the amount received by the company in respect of the first shares issued to the memorandum of association subscribers, the annual filing fee payable to companies house and fines and penalties issued by companies house for non filing of the annual return. The term dormant company has legal significance quite separate to a company which might be described as a non trading company. The difference being that a non trading company may still have other financial transactions entered into its accounting records which even though not related t trading would disqualify that company as a dorm...

Starting a limited liability company in the UK requires the submission to Company House forms, 10 and 12, plus a memorandum and articles of association to complete the company formation and registration. Companies House Form 10 First directors and secretary and intended situation of registered office Company formation Form 10 is where the details of the first director(s), company secretary and the proposed registered address of the proposed limited liability company are recorded. Details required include the names and addresses of the officers and in respect of directors the date of birth, occupation and details of other directorships held within the last five years. Before submitting the registration forms visit the Companies House website and carry out a name check to ensure the name is suitable and available. Names similar to existing companies are unsuitable as are any names likely to cause offence. On form 10 enter the proposed limited liability company name in full includ...

Winding up of Company: Winding up of a company is the process whereby its life is ended and its property administered for the benefit of its creditors and members. An direktur called a liquidator, is appointed and he takes control of the company, collects its debts and finally distributes any surplus among the members in accordance with their rights. Kind of Companies can be wound up: Only a limited company can be wound-up. The term "winding-up" (or "wound-up") bears a similar meaning of "liquidation". It generally means that all the assets of the company would be realized (sold off and converted to cash) through a legal process in order to repay its debts. Winding-up would bring a company to an end. A limited company is a company that is registered under the Companies Ordinance. It is a separate legal entity (i.e. it can sue or be sued in legal proceedings). The liabilities of shareholders are limited to the value of the company's shares held ...

Introduction The world that we are seeing around us has not been created or built in one day. In the beginning everything was new, fresh, and small in size, simple and fewer in numbers. With constant changes, evolution, improvements and collaborations things around us has become larger in size and more complex. In my career so far, I have worked in start-up companies; new projects; new ventures and new assignments and having been a part of HR Profession, I think it is just appropriate for me to share those experiences. In this article, we will not be talking about everything around us but about the corporate world, its evolution, growth and its analogy with human life cycle. Types of start-up companies Every big company around us, be it Microsoft, IBM, Google, GE, Cisco and etc were start-up companies at one stage or another. In the beginning, there were fewer employees, less capital, poor infrastructure and less facilities. Over the period of time with consistent growth and expa...

Introduction A few years ago, a small oil and gas company in a large city re-located its principal offices to a smaller city in the same state, but forgot to change its registered agent address at the Secretary of State's office to reflect the move. Later, a third party filed a lawsuit against the company but could not locate its registered agent. As required, the third party checked the Secretary of State's office to obtain the current address for the registered agent so that he could serve the summons on the oil and gas company, but the old address was of no use. Eventually, after being unable to locate and serve the oil and gas company with the lawsuit papers, the third party obtained a default judgment against the company. The oil and gas company later had to spend a substantial amount of money to vacate the default judgment, all because the company acted as its own registered agent and failed to file a change of address when it moved. In another case, an individual agr...

A company name check is essential when selecting a name for your proposed company. A thorough check will inform you of relevant legal restrictions, and allow you to work with them in the quest for the perfect name. You should perform a company name check on every likely candidate for your proposed company name during the creative process, rather than just on the name you settle on. There is nothing worse than finding out that the name you have spent days choosing has already been taken or is otherwise restricted. This article outlines how to perform a company name check to aid in your search for the perfect company name. 1. Company Name Check - Summary In summary you should perform the following company name checks as a minimum: o Check that your proposed company name is available. o Ensure that the name is not a registered trade mark in relation to the goods or services you provide. o Ensure that the name is not being used by a competing business that operates in your ar...