Category Archives: Company Law

What Company Stationery Information?

company-stationery-information
Company Stationery Information
To limit personal liability and for tax purposes, many small businesses incorporate and become limited companies.

On incorporation, a company must provide company stationery information on letterheads, invoices, official orders, delivery notes, cheques and so forth.

Company websites must also provide certain company information.

Below, I have summarised some of the legal requirements of the Companies Act.

Information Required on Company Stationery

The following information must be clearly shown on company stationery:

    • The full name of the company as shown on the Certificate of Incorporation including the word ‘Limited’ or ‘Ltd’. See note below.
    • Place of registration: ‘registered in England & Wales’, ‘registered in Scotland’ etc. depending where it was registered.
    • The company registration number as shown on the Certificate of Incorporation.
    • The registered office address as recorded at Companies House and shown as the ‘registered office’ if the trading address is different.
    • All company cheques must show the word ‘Limited’ or ‘Ltd’ as above, if not, the signatory will be liable for the value of the cheque if it is not honoured.

Note: There is no difference between ‘Limited’ and ‘Ltd’. These two suffixes are interchangeable if the company has the full ‘Limited’ suffix on the Certificate of Incorporation. If, on the Certificate of Incorporation the suffix is ‘Ltd’, then only ‘Ltd’ can be used and not ‘Limited’.

Information Required on Company Websites

As with official company stationery, the company websites also have to include certain information as follows:

  • The full name of the company as shown on the Certificate of Incorporation including the word ‘Limited’ or ‘Ltd’. See note above.
  • Place of registration: ‘registered in England & Wales’, ‘registered in Scotland’ etc. depending where it was registered.
  • The company registration number as shown on the Certificate of Incorporation.
  • The registered office address as recorded at Companies House and shown as the ‘registered office’ if the trading address is different.

This information does not need to be on every page but it must be easy to find. Some web sites show the information in the footer section of every page but it can be simply put on the Contact page.

Disclaimer

The above is not exhaustive and is for guidance only and you should consult your accountant or other professional adviser before taking action on any of the above. See the Disclaimer

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The Small Business, Enterprise and Investment Bill

The Small Business, Enterprise and Investment Bill received Royal Assent on 26 March, 2015. Companies House has published the following timetable for bringing the company law provisions of the new Act into force:

Bearer Shares

The prohibition on issuing new bearer shares will come into force in late may or early June 2015. Holders of existing bearer shares will then have nine months in which to surrender those shares in exchange for registered shares.

October 2015

The following changes will come into force in October, 2015:

  • No longer be able to appoint a company as a director of another company. Existing appointments will become void 12 months after October, 2015.
  • Date of birth information available to the public in relation to company directors will be limited to month and year of birth.
  • Simplifying the procedure for removing an individual’s name from the public register if he or she confirms that they never consented to act as a or company secretary. From October, when a company registers the appointment of a new director, Companies House will notify them.
  • There will be a simplified procedure for amending the the register if a company is using an address as its registered office, without the permission of the person who’s address it is.
  • The time it takes to strike-off companies will be accelerated.

Significant Control

From April 2016, all companies will be required to keep (and make availablefor public inspection) a register of ‘people with significant control’ over the company.

‘Significant control’ includes (but not restricted to) owning 25% of the shares, or being able to exercise 25% of the voting rights, or being able to appoint a majority of the Board of Directors.

Companies House says that, from January 2016, companies should compile the information required for this register.

Annual Return

From April 2016, the requirement to file an Annual Return at Companies House will be replaced by a requirement to ‘check and confirm’ the information already filed at Companies House at least once every twelve months.

Private companies, which most owner-managed business are, will be allowed to file certain categories of ‘optional information’, in addition to the information required by law.

Private companies will also be able to keep certain information on the public register, instead of a statutory register. This will apply to the registers of members, directors, company secretaries, directors’ residential addresses and the new register of ‘people with significant contro’ (PSC’s).

Comment

Your accountant should be able to advise on these changes when they come in.

 

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