Company registration is the process of incorporating limited companies with the company registrar also known as Companies House. One can either apply directly to Companies House, by using the form IN01 or using an approved incorporation agent’s online portal. It takes between 3 to 6 working hours (subject to Companies House workload) to get a response after completion and submission of the online application form. Once approved, Companies House will issue a registration number, hence the limited company becomes an individual legal entity that is separate from its owners.
Types of registrations available from the registrar:
Private company limited by shares
Private company Limited by Guarantee
Public company Limited by shares (PLC)
Flat Management companies
Limited Liability Partnership (LLP)
Since Limited companies are distinct legal entities, the owners’ liability is restricted to the value of investment they make in the company through acquisition of shares or in the form of guarantee they provide. Limited liability is one of the benefits of registering companies limited by shares. This financial protection is what company shareholders, company guarantors and LLP members will all rely on in case of a dispute. Creditors will by law, only recover debts up to the amount invested or guarantee given; anything beyond these sums are the responsibility of the limited company alone. Business owners would be very reluctant to incorporate if they did not have this security that their personal assets would be at risk in case the business were to go down.
Company registration process
You can incorporate your company using the three methods available to member of the public: by post or online with Companies House, or online through a company registration agent. Using Lincroft Associates to incorporate your company makes it so easy and straightforward, with the extra support you get during this process. Sometimes it is just a matter of speaking to us over the phone and we will take care of the rest.
We will need the following information submitted before we can register your private company limited by shares or guarantee:
Your Chosen company name
Our real time name search will allow you to choose a company name which has not already been taken. However, the proposed name must not be the ‘same as’ or ‘too like’ the name of an existing company at Companies House. There are exceptions to this rule where this company will form part of the same group, or you have the permission from the existing owners to use this name.
The registered Office.
It needs to be in England and Wales, Scotland, or Northern Ireland, depending where trade will take place. The registered office of the company will be the legal address, where statutory mail will be delivered from Companies House and HMRC. You can always choose to use our office as your registered office as long as we are satisfied with the due diligence process we carry out on the officers of the company.
Officers of the company
At least one director is needed to open a limited company, but more may be appointed, provided they are 16 years old. Other corporate entities can also be appointed as directors, if there is already an individual acting as director of the company. One person can be shareholder or guarantor and be the sole director at the same time. The same principle applies to subscribers; the minimum is one, but you can have as many as you like; be it shareholders or guarantor. There is also the need to disclose who are the people with significant control and the nature of the control as well.
Details of the Capital structure
Once the directors’ and shareholders’ details are provided, you will have to give us full breakdown of the shares you wish to issue ie. quantity, type, value, attached rights, paid or unpaid by each shareholder.