Single Member Companies - Company Formation - UK Registration Services

The following describes the various proposals for companies which are set to come in to force in the near future

1. Company Formation

The proposed changes to the law would allow the formation of single member companies. This would simply the company incorporation process and result in entities which are more suited to the people who own them.

2. Minimum membership for carrying on business

Currently if a company fail to have at least two officers for a duration of six months or longer, the company would forfeit its limited liability attribute. 

3. Interests in contracts with sole members who are Directors

Currently all directors must disclose their interests in any part of the company's business.

4. Disclosure of single member status

In the event that a company transfers to become a single officer  company of if a single member company has more officers join it, these facts must be included in the register of members.

5. Company meetings

For the purposes of single member companies a quorum will just be one person.

6. Recording of decision by a sole member

7. Registration of single member companies

Any private limited company whether limited by share capital or guarantee can become single member companies.

1. Forming A Company Just Became Easier

2. Statutory Requirements For New Companies

• Issue and Allotment of Shares
• Transfer of Shares
• Dividends
• Company Meetings
• Company Notices
• Directors Meetings
• Single Member Companies

3. Non Profit Organisations

• Options for incorporated not-for-profit organisations
• Companies House Coding System
• Non s30 companies
• Royal Charter
• Charitable Companies

4. Company Directors and Secretaries

• An introduction to limited companies
• Role and duties of a company director
• Role and duties of a company secretary
• What you have to send to Companies House
• Quality of company documents
• Further information

5. Annual Returns

• Completing an annual return
• Completing the shuttle annual return Form 363s

6. Accounts and Accounting Reference Dates

• Accounting reference dates
• Preparing and filing accounts to Companies House
• What if the accounts are delivered late?
• Small and medium-sized companies accounts submission
• Very small company audit exemptions
• Audit exemptions and accounts to shareholders
• Audit exemption for dormant companies
• What happens if my company starts trading again?
• Partnership accounts

7. Company Auditors

• Appointment of auditors
• Dormant company audit exemption
• What and who are recognised supervisory bodies?
• Removal of auditors

8. Share Capital and Prospectuses

• Share capital
• What is issued capital?
• Non-cash payments?
• Are there different types of shares?
• Can class rights be amended?
• Redemption and purchase of own shares?
• Prospectuses and listing particulars

9. Late Filing Penalties

• Late filing penalties
• Late filing penalties need not be necessary
• Once a late filing penalty has been imposed
• Further information

10. The Costs and Benefits of Company Registration

• Company Formation Introduction
• Costs and benefits of limited liability
• Restrictions and costs of setting up a company I
• Restrictions and costs of setting up a company II
• Restrictions and costs of setting up a company III
• Restrictions and costs of setting up a company IV
• The registration of company names
• The company’s constitution and the ultra vires rule
• Summary and conclusions