Company secretarial is one of the offices that every business should have. It ensures that the company has all the documents they need as per the Company Act. Many businesses consider this as an administrative burden. Yet failure to comply with keeping statutory books and up to up to date filing can lead to severe penalties. Luckily, we can take these burdens off your shoulder.
At Hammersmith Chartered Accountants, we help businesses take care of their company secretarial duties. Even though it is not mandatory for a private company to have a company secretary. But if your article of association requires that you have the company secretary post, you can trust us for help.
What you should do when you appoint a company secretary?
First, when you appoint a company secretary, it is important that you notify the company’s house of the new appointment. You must also update them on any termination you may have made.
What you may need to consider before you appoint a person to serve as your
There are plenty of things you need to consider. Firstly, the holder of the position must be knowledgeable. Also, they should be fit to discharge the duties bestowed upon them.
The role of A Company secretary
- They advise the board on governance matters.
- They should be capable of maintaining statutory books including the following registers:
- Past and present secretaries and directors register
- Present and past shareholders register
- Changes on the company’s assets register
- General and board meetings register
- Register for debenture holders
That aside, they should:
- Ensure that the annual returns are filed at the Companies House. Other
- documents that need to be filled include a report from the directors and auditors. They must also file a financial statement on the company’s liabilities and assets.
- Arrange the meetings for the shareholders and directors. To do this,
- they must issue notices for meetings and circulate relevant papers.
- Besides, they must produce minutes of the business transacted in the
- Inform the company’s house of any changes that take place in the
- company’s management structure.
- Ensure the company has a registered office where all formal
- communication can be forwarded.
- Are in charge of the safety of the company’s legal documents. The
- documents include article and memorandum of association and
- certificate of incorporation.
- Decide on a company’s policy to be used in retention and filing
- Advise directors on duties and ensure that they comply with the
- company’s article of association and corporate legislation.
- Other administrative duties
They are responsible for the following:
- PAYE& payroll
- Pension schemes
- Office management
- Intellectual property
- VAT registration
- Complying with health and safety requirements
The role of a company secretary is thus critical in helping the company to grow. The board secretary will always rely on the company secretary for guidance with respect to the regulations governing the operation of the company. They should advise the company directors and work with the chairman of the board to ensure that the board is functioning.
At Hammersmith Chartered accountants, we will help you take care of the following statutory registers:
- Mortgages and charges
We shall also help in preparing and filing the following to the Companies house
- Increases in the company’s share capital
- Changes in the registered office
- Changes in the officers
- Allotment of shares
- Accounting reference date changes
- Prepare documents required for the annual general meetings
Documents we will help to put in place Companies in the UK are required to keep statutory registers. They must ensure that such registers are updated on time. The registers should be available for inspection when requested. The registers must contain vital information such as the name of shareholders and the number of shares they own. This is important information that should be kept in the company’s registered office. Here are the most important documents that Hammersmith chartered accountants, will assist you to develop.
1. Register of members
This is the register of shareholders. It contains their names, addresses a number of shares and their respective classes. It also contains info on the amount paid, the price of each share and the date the shareholder was registered or ceased being one.
2. Register of Directors
The Company Act requires every company to keep an updated register of its directors. It includes details on the name and their address. The register captures the director’s nationality, their business occupation and when they were born. It also contains details of their residence in the UK.
This register is important and must be available for inspection. It should be availed at the
offices whose details are filed at the Companies House. If the address changes, the company secretary needs to inform the Companies House immediately.
The register should also be available to members or the shareholders for inspection at no charge. Members of the public have the right to access and inspect the register upon payment of a fee. They may also inspect it free of charge.
Requests to inspect the register must be complied with immediately. Failure to comply within 14 days can result in the issuance of a default fine. The court may also issue an order that compels the company to avail the register for the inspection.
3. Shareholders register
The company’s shareholder or a member of the public have the right to inspect this register. They should be given access after paying the levied fee. They can also request for a copy of the register upon payment of a fee. But the person wanting to inspect and review the register must disclose who they are.
They must also share their addresses. Besides, they must give the name of the organization they represent and state the reasons for inspecting the document. If they plan to pass the information obtained to another person, it should be stated. The company is under obligation to comply within 5 days.
However, if they feel that the reason, and the purpose the document is to be put to is not good, it can apply and share the reasons with the court. The company will be fined if it fails to share the register 5 days after the request was made. Also, anyone who inspects the register under the pretence of being a shareholder, or discloses any information obtained to another person can be
subjected to a fine.
4. Directors residence address register
Companies are obligated to provide a service address including the official mail of the directors. It allows the HMRC to easily communicate with the directors. The directors are also required to provide their residential address. But this info is not meant for the public consumption unless such an address is similar to their service address.
Other important registers
A register for changes on the floating charges or the company property must be also be kept. Also. The company secretary should keep a register of people who own more shares. They should be having significant control of the company.
From this discussion, it is clear that the company secretary plays a critical role in running a company. They ensure that the company complies with UK company law. When you choose to work with Hammersmith chartered accountants, we will help you maintain all the statutory registers. We will offer advice and guidance on company law and help you meet the required
We are professionals with many years of experience, and we will work hard to ensure that your company benefits. Many companies don’t file documents on time, so they lose money through unwarranted fines. This should not happen to you. We will ensure that all document filings are done on time and according to law.