COMPANY SECRETARIAL
Keeping on top of all the legal formalities required in any business by the Companies Acts is a formidable task. Failure to comply with these formalities can result in heavy fines, legal fees and bad publicity.
The primary responsibility for complying with all the relevant formalities falls to the directors, but it is usually the Company Secretary who has the practical task of completing the necessary paperwork.
Every company must have a Company Secretary, though this position need not necessarily be full time or internal. However, even for a small private company, the position of Company Secretary can carry daunting duties and responsibilities. Shipleys’ long-established Company Secretarial department offers a wide range of support services to the Company Secretary of any type or size of company and, in certain circumstances, can act for companies which do not have their own Company Secretary internally. The department currently services in excess of 800 companies and is led by a qualified Chartered Company Secretary.
Company Formation
Frequently, one of the first tasks in setting up a new business venture is the formation of a company.
The process of incorporating a company can be time consuming and tedious. Shipleys arranges the
incorporation of more than 100 new companies every year, with minimum time and effort required by the client.
With electronic communications to Companies House we can now incorporate companies within 24 hours of
receiving the instruction.
Company Formalities and Procedures
Once formed, there is an ongoing requirement to maintain proper records of the directors and ownership of the
company. Any changes to the directors must be notified to the Registrar of Companies, within two weeks of the
change taking place. Shipleys can take care of all the company’s statutory records and notify the
Registrar of any relevant changes to the management.
Annual Compliance
Each year, every company is required to file a return of all its current directors and list any changes to
its shareholders. Shipleys can ensure that these returns are filed promptly and deal with any questions
raised in connection with such returns. We can also draft the formal minutes of statutory meetings and
dividend documentation.
Limited Liability Partnerships (LLPs)
Limited Liability Partnerships are, effectively, also subject to most of the requirements of the Companies Acts.
Although originally intended for professions such as accountants, lawyers and surveyors which have traditionally practised as partnerships, LLPs are proving increasingly popular for a variety of uses, particularly with respect to tax planning.
Shipleys can assist in the formation and maintenance of LLPs; we have experience of the registration requirements, and we look after the compliance requirements of a number of LLPs. We can provide any level of support the Partnership Secretary may require.
Registered Office Facilities and Safe Custody of Documents
Shipleys’ prestigious London address may be used as the Registered Office for any client company or LLP.
Official correspondence received at the address is forwarded to an address nominated by the client, or can be
dealt with on the client’s behalf. Documents of title, such as share certificates, may also be kept securely
at our London office.
Provision of Company Information and Research
Using the latest on-line technology, Shipleys can access the statutory information on any company or LLP
registered in England and Wales. This includes the statutory accounts, together with the management and
ownership details. This information can be invaluable when seeking out new customers and assessing their
creditworthiness. Shipleys can also access general market information, which can be of particular benefit
in business planning.
General Compliance Support
Apart from the Companies Acts rules and regulations described above, there are many more regulations that
management must comply with, specific to the nature of the business. Employment, Health & Safety and Data
Protection are just some of the issues upon which business managers frequently require support. Shipleys
can assist with the formalities associated with these issues, either directly or through the considerable
network of specialists with whom the firm has a close relationship.