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What Do You Need to Start a Limited Company?

15 August 2013

Do you want to set up a limited company but don’t know where to begin? We’ll give you a brief overview of everything you will need for your company formation.

Directors and company secretaries

You are legally required to have at least one director in order to register your limited company. Responsible for the running of the company, they must be at least sixteen years old. Anybody previously disqualified from being a company director is ineligible. Although it is possible to have a company as a director, at least one of your directors must be a person.

Since the Implementation of the Companies Act 2006 it is no longer necessary to have a secretary, although you may choose to have one to take on some of the director’s duties. A secretary may not be either the company’s auditor or an undischarged bankrupt (although they may be able to seek permission from the court).

Shareholders

Every limited company is required to have at least one shareholder as a minimum; there is no maximum number of shareholders. As part of your registration you will have to make a statement of capital, which details the number of shares the company has and their value (referred to as the share capital) and the names and addresses of all shareholders (they will be referred to as subscribers or members).

Registered address

All limited companies must have a registered office address to receive official communications, e.g. correspondence from Companies House and HMRC. Although it doesn’t necessarily have to be your centre of operations, it does need to be an actual physical address and based in the country where you registered your company, e.g. if you registered in Scotland, your registered address has to be in Scotland. If your own personal address meets these criteria, it may apply.

Company name

Your company name is one of the most important decisions you will ever make. If you’re registering a limited company, the name must fulfil certain requirements:

–          It must end with either Limited or Ltd (this can’t be placed anywhere else in the company name)

–          It can’t be the same as an existing company. Our intelligent name check service can cross reference your choice with the database at Companies House and make sure it’s not a duplicate

–          It may not contain sensitive words (the name check service will be able to identify any).

If you have any further questions about what you need for a company formation, we’ll be only too happy to hear from you. We can be contacted either by telephone on 0208 232 5479 or by email at info@eformations.co.uk.

Welcome to eformations

14 August 2013

Hello and welcome to eformations’ brand new blog

Since the firm’s creation in 1991, we have offered a wealth of services and attention to detail other company formation agents can’t touch. It doesn’t matter if you’re establishing a company for yourself or your clients – we will go out of our way to offer you the best possible deal, as well as take care of all the complicated legislation. You know that if you go through us your new company will be complying with all aspects of business law.

We’ve adapted with the times and modern technology; thanks to our easy to use development tools, our clients can receive their Certificate of Incorporation instantly. Once your company is up and running you can manage it via our admin portal, meaning you’ll always have assistance on hand when you need it.

Our name check service guarantees that you will not have the same name as an existing business, or have a name containing certain sensitive words – which may be allowed with our help. Whatever your requirements after that – business plans and cash flow forecasts, payroll and bookkeeping, a complete accountancy service, even restoring a company – we will be only too happy to oblige, giving you the high levels of customer care that our clients have come to expect.

We’re delighted to welcome you to eformations and hope you enjoy your time with us. If you have any further queries, please don’t hesitate to get in touch, either by telephone on 0208 232 5479 or email at info@eformations.co.uk.