Formalities in Limited Company Registration

Not for no reason has the United Kingdom become the nucleus of business activities, with more that 2.6 million companies operating in the region as of October 2009. The country’s stable political and economic status, along with the convenient administrative procedures, makes the UK an ideal place to start a company. All company formations are looked into by the Companies House. For a limited company registration, entrepreneurs have to provide the requisite information and documents to the Companies House.

Limited Company Registration: Memorandum of Association
Every limited company registration requires the submission of the Memorandum of Association, along with the registration forms. The Memorandum is a crucial requirement, failing to submit which in the right format can lead to the company registration being declined. Some essentials that must be stated in the Memorandum are:

‘Limited’ - The Company’s name with ‘limited’ or ‘Ltd’ as the last word. This last word cannot be dispensed with unless specific exemption has been obtained. Such a dispensation can only be obtained on grounds that:

• The company is being formed for the objects specified
• The liability of the members or shareholders is unlimited

Before registering a company, a name check must be carried out to make sure that the proposed company name is suitable, not offensive and not similar to any existing name.

Location of the company - The memorandum has to state the location of the registered company office (whether it is in England, Wales or Scotland.) The official documents, such as the Companies House communications, notices, summons and writs, arrive in the registered office of the company.

Company objectives - The company objectives must be stated with clarity in the Memorandum. This section comprises:

• A main objects clause
• A number of clauses governing the company activities

The objects clause should include all the possible activities that a company may engage in to achieve its objectives.

Subscription of initial members – This document must contain a clause dealing with the subscription of the initial company members. This clause must state:

• The name of each member
• Their addresses
• Other details

Private limited company registration requires the presence of two members and a statement of the number of shares of each subscriber. Also, each subscriber has to sign the document under their allocated shares. The signatures of subscribers must be witnessed by a third party.

You can easily fulfill all formalities involved in a limited company registration with the aid of a professional company formation agency. To consult the experts in the industry, visit www.companyformations247.co.uk.

How to Register a Business in UK

To register a business you need to first decide the location where you want to trade. For instance, if you want to trade in the UK, you must register your company name with the Companies House. This agency is the legal entity in UK that oversees all aspects of company formations. Some documents that you require to register a business in the UK are the certified copies of your business documents and the registration fee.

Steps to Register a Business in the UK
Before you register a business, choose the business structure and organization. You can choose from among public limited companies, private limited companies or private unlimited companies. A private limited company is also of two types: those limited by shares and those limited by guarantee.

The next step is to register the name of your company. For registering your company name, you need to fill up forms that are downloaded from the website of the Companies House. For registering the address of your business, you must fill out Form 691.

The registration form should be mailed to the given address with a fee of £10. If you wish to operate your business in England and Wales, mail to the Registrar at Companies House, Cardiff. If you want to conduct your business in Scotland, mail to the Registrar at Companies House, Edinburgh.

How to Register a Business: Tips on Choosing Company Name
Choosing a company name is one of the first requirements of registering a business. Here are some tips to help you in the company name selection:

• The Companies House maintains an index of existent company names. Once you choose a name for your company, check in the index whether the name already exists. If it does, choose another name for your business.
• The proposed name must not include certain restricted terms, such as British, government, national, international and institution. Choose a legal name that is easily approved by the Companies House.
• The Intellectual Property Office also maintains a Trade Marks Register that contains a list of registered trademarks. Consult this to avoid any conflict with the existing trademarks.

To register a business in the UK, you can seek the specialised services of company formation agents. Company Formations 247 is a well-known agent in the UK who can help you in selecting a suitable name and office address, and register your company quickly and effectively.

A Guide to Start a Limited Liability Partnership in the UK

The UK business environment offers a variety of company formation options, which include public or private limited companies, companies limited by shares or guarantee, or a Limited Liability Partnership (LLP). It is the flexibility provided by an LLP that makes these the most preferred option for big firms, such as accounting and solicitor firms.

The legal framework of this type of business structure was created by the Limited Liability Partnership Act 2000. The main purpose of designing this business structure was to protect big professional partnerships, such as law and accountancy firms, from negligence actions. Like other business structures, an LLP in the UK is also regulated by the Companies Act 2006.

The only difference is that the structure of management in this case is fixed by the partnership agreement. One of the benefits of such company structure is that loans can be availed at floating rates.

The Companies Act 2006 has been formed after integrating all the preceding laws regulating companies in the UK. For carrying out business in the UK, these laws make for two types of business entities: partnerships and companies.

Main Provisions of the Limited Liability Partnership Act 2000
The main provision of this type of business structure is enshrined in the Limited Liability Partnership Act 2000. The Act allows the partners of the company to have liability up to a certain point. For general trading debts, the Act allows a limited liability. However, the personal liability of the partners in this structure is not limited.

In such business structures in the UK, the conduct of business is done by ‘designated members’ and the ‘members.’ The responsibility of the designated members is similar to that of a director or a secretary in a limited company. The responsibility of providing capital lies with the members. Since the working capital is provided by the members, they also share the profits. In this case, the profit would reflect the partnership rather than the dividends that is paid in case of companies.

One of the requirements of a limited liability partnership is the agreement between the members of the partnership. The process of forming the partnership becomes very easy if you get professional help from specialised agents. One such agent who can help you in getting a basic LLP agreement is the Company Formations 247. The agent can offer you all help, right from providing information to the registration process.