Company Formation

Businesses are broadly divided in to three main categories-Sole trader, Private and Public Limited companies.

Sole Trader: Sole trader could be a self employed person or a family business.

Private Limited companies can be –Company Limited by shares, Company Limited by Guarantee and Unlimited Company.

Company Limited by Guarantee: Most of the charities and social enterprises come under this category. The trustees become automatic directors of the company. There are no shares, but each directors liability is limited, usually £1.

Company Limited by Shares: Shareholders of the company have limited liability to the extent of their shareholding. If a share based company is liquidated, shareholders may be required to pay all amounts of unpaid monies relating to the shares they hold.

All Limited companies must be registered with Companies House using a paper form. Detailed information is available on Companies House website; some of the key requirements are as follows:

1) Form IN01 Application to register a company contains

• the company name - IMPORTANT check name availability
• the location of the registered office address, (either England & Wales, Northern Ireland, Scotland or Wales)
• the consenting company secretary (if applicable) and director(s)
• the subscriber details
• the share capital details and the prescribed particulars relating to each class of shares (only for companies limited by shares)

2) Memorandum of Association* (with share capital or without share capital)

Contains the names and signatures of the subscribers who are forming the company, and for companies limited by shares a commitment that each subscriber will take at least one share.

3) Articles of Association*

Contains details of running the company, internal management affairs and liability - they are the company’s internal rulebook. A company can choose to use the standard Model Articles and if they do so do not need to file these with Companies House.

Why Namaste Consulting?

· We will help you to set up your company

· We will draft the Memorandum and Articles of Association

· We will file the annual returns with Companies House and Charity Commissioner

· We will ensure that all reports are sent within the stipulated time to the concerned authorities

· We will also keep you informed about any changes to the Companies House rules and regulations

· We will ensure utmost confidentiality and security of your data

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