Form a Limited Company
Although it's possible to set up a company online quite easily nowadays we still see clients who get it wrong and don't consider all the options available.
If you are thinking of forming a limited company please get in touch before you proceed.
How the process works
The Companies Act 2006 sets out exactly what documentation is required for forming a company:
An application to form a company is made on Form IN01. This has to be accompanied by a Memorandum of Association (see below), the Articles and the correct registration fee.
The Memorandum of Association is a short document to confirm the intention of each subscriber to form a company and become a member of that company. Companies are no longer required
to specify their objects, and the concept of authorised share capital has been abolished altogether.
There are three types of Model Articles to choose from, as follows:
- Private company limited by shares
- Private company limited by guarantee
- Public limited company
Companies can be formed using either Model Articles, Model Articles with amended provisions, or bespoke Articles.
Companies incorporating as limited by shares must also complete a statement of capital and initial
shareholdings as part of the formation documentation.
A company must have at least one director who is a natural person aged 16 years or over. For each director who is an individual, the following information must be provided:
- full forename and surname
- any former name(s) used for business purposes,
- including maiden name(s) and previous married name(s)
- full service address including town, county and postcode
- (for the public record)
- usual residential address (protected information)
- country/state of residence
- date of birth
- the number of shares, if any, the director is to have in the company
- security items from the criteria required by Companies House
The following information must be provided in relation to each shareholder:
- full forename(s)
- full address including town, county and postcode
- the number of shares the shareholder is to have in the company
Details of people with significant control will also need to be provided, for example anyone with more than 25% share or voting rights.
Directors’ Service Addresses -
Directors have the right to use a service address rather than their usual residential address. The service address may be the company’s registered office.
Home addresses are no longer put on public record by the Registrar of Companies. Companies House still hold a register of residential addresses, but access will be very strictly limited (eg liquidators, the police, HM Revenue & Customs and credit reference agencies).