Glossary

A, B, C, D, E, I, L, M, N, O, P, R, S, T, U, V, W

A

Accounting Reference Date - A company accounting reference date is the date in each year to which a company's financial accounts are prepared. This date usually ends at the end of a particular month. The accounting reference date marks the start of the time allowed to deliver accounts to the Registrar of Companies at Companies House.

Annual Return - It is a legal requirement that a limited company must draw up an annual summary of its capital and shares, together with an up-to-date list of directors and members (shareholders) including their names, addresses and number of shares held, and occupation. Now called the confirmation statement.

Annual Account - Called ‘statutory accounts', are a company’s financial records that must be prepared at the end of the company’s financial year.

Articles of Association - The Articles of Association document sets out the rules and regulations for the running of the company's internal affairs.

Authentication Code - Authentication Code is a 6 alphanumeric code that enables the submission of data for an individual company. The Authentication Code is the electronic equivalent of a company officer’s signature. It enables the submission of data for an individual company and is linked directly to the company number.

Apostilled Documents - Documents that have been notarized by a Solicitor and then certified with a conformant apostille are accepted for legal and international use in all the nations that have signed the Hague Convention.

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B

Barclays Business Bank Account -  Through our relationship with Barclays, we can offer a business bank account referral to UK residents (subject to availability).

Business Apps - Get business apps on your mobile while on the go.

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C

Certificate of Good Standing - A company is in good standing with Companies House, can obtain a certificate of good standing that indicates this to be the case.

Certificate of Incorporation - A document issued by Companies House that states a limited company in existence. It includes the company name and number.

Chartered Accountants - An individual must be a member of the Institute of Chartered Accountants. Membership is separated geographically into 3 organisations: England & Wales, Scotland and Ireland.

Company Pack - Organise and style your company documents with a company register, seal or stamp. (For UK companies only)

Confirmation Statement - Previously, Annual Returns. A confirmation statement is a snapshot of general information about a company's directors, secretary (where one has been appointed), registered office address, shareholders, share capital and people with significant control.

Consent to Act -  For newly appointed officers, a statement was added by Companies House to the relevant appointment and incorporation forms (paper and electronic) that the person has consented to act in their relevant capacity. Companies are required to agree to this statement. This replaced the previous consent to act procedure of providing a signature on paper forms and personal authentication on electronic filings.
As part of this, Companies House write to all newly appointed directors to make them aware that their appointment has been filed on the public register and explain their general legal duties. See also the new director disputes procedure.

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D

Director - A Company Director is a person who will run the company. There must be a least one director when forming a Limited company, and they can also be a shareholder.

Dissolution - If a limited company is no longer required, the directors can request that it be removed from the Companies House register. This process is known as a "Voluntary Company Dissolution".

Dividend - Dividends are payments made to the members of that company. Most listed companies (those who can afford it) pay dividends to their shareholders often twice a year. They are a means to reward and repay investors for purchasing a stake in the company.

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E

EEA Company (European Economic Area) - An EEA company is one to which the First Company Law Directive (68/151/EEC) applies. For EEA companies, you are required to give details of the register where the company file is kept (including the relevant state), plus the register (central register, commercial register, company register) as mentioned in Article 3 of the Directive. An EEA company is not determined by whether it is geographically situated within one of the countries comprising the EEA.

Elective Resolutions - Elective resolutions allow the company to simplify the procedures for certain statutory requirements. The primary purpose of elective resolutions is to simplify the running of a company in terms of the number of meetings and the resolutions which it has to pass.

I

Incorporation Date - The incorporation date is the date the company was registered at Companies House.

Issue of Shares - The Issue of shares service is for customers who want to issue new shares in the company. This includes submitting a return of allotment to Companies House to apply for new shares, as well as, preparation of meeting minutes, board resolution and a blank share certificate.

International Packages - Ideal for non-UK residents looking to form a UK company, including maintenance services, a prestigious London address and international mail forwarding. Plus the option of a UK bank account for your business.

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L

Limited by Guarantee - A company Limited by Guarantee is an alternative type of company used mainly for non-profit organisations.

Limited Liability Partnership (LLP) - An LLP member is a person, natural or corporate entity, appointed to run the affairs of the Limited Liability Partnership (LLP). An LLP member will be appointed as either a Designated Member or a non-Designated Member.
A Designated Member has the same rights and duties as other (non-designated) members  but has extra responsibilities, such as authorising the submission of documents to Companies House.

Limited by Shares - A company Limited by Shares have shareholders that are responsible for the company’s financial liabilities. They are limited to the value of shares that they own but haven’t paid for. Company directors aren’t personally responsible for debts the business can’t pay if it goes wrong, as long as they haven’t broken the law.

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M

Memorandum - The Memorandum of Association is a one page document, part of the Articles of Association. The document includes: company name, subscriber, share capital, and date.

N

Notary - A Notary public deals with authenticating and certificating signatures and documents for use overseas.

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O

Offshore Formation - An Offshore Company Formation is the setting up of a company as a legal entity, incorporated in a tax haven which is free from all local taxes. Typically offshore companies give a range of features where tax can be saved. These tax savings can be available to both the company and the people who own the entity.

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P

PAYE -  The process of signing up with the Inland revenue (HMRC) in order to deduct NI contributions and tax from a company's employee salary.

R

Registered Office - A registered office is an address where the company's statutory books are available for inspection. Companies must display their registered office address on all company literature and stationery.  Companies House will always send official notices and other documents to the registered address of the company.

Reserve a Company Name -  You can protect the company name you want or the name you trade under by reserving a company name.

Resolution - An agreement or decision made by the members, a class of members, or the directors of a company to carry out certain changes.

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S

SAIL Address - Single Alternative Inspection Location is an alternative local to the registered office, where company records are kept.

Secretary - A secretary is not needed for a limited company however you may choose to have one. A company secretary is normally expected to:

• Prepare and maintain the company's statutory books 
• Make sure Companies House, HMRC receive all required documents promptly
• Prepare paperwork.

Service Address - The service address is a location where official documents and notices can be delivered (serviced) for the attention of the company officer. The service address information provided will appear on the public record. This is included within our Registered Office service.

Share Capital - is the money invested in a company by the shareholders. Shareholders will hold shares and therefore partially or wholly own the company

Shareholder - Shareholders (subscribers) are owners of a company, and there must be a minimum of one shareholder to incorporate a company. A shareholder can also be the company director or secretary. Limited by Guarantee (non-profit) companies do not have shareholders; they have Members or Guarantors instead.

Subscriber - A subscriber is someone who was a shareholder at the time of a company's incorporation. This term is used by Companies House to distinguish from the shareholders who currently own the company. Subscribers have no responsibility of the company.

Sync data with Companies House - To ensure the company information we hold mirrors that which Companies House have.

S243 exemption - This is an exemption from disclosing the director's usual residential address to credit reference agencies. It only applies to director's who have been granted a disclosure exemption under section 243 of the Companies Act 2006. This is to protect the safety of the director and those they live with.

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T

Transfer of Shares - The Transfer of Shares service is for customers who want to transfer share/s from one shareholder to another and require the transfer to be documented on paper.

TSB Business Bank Account - Through our relationship with, we can offer a business bank account referral to UK residents with £50 cash back.

U

Umbrella company -  As an umbrella company is an organisation that employs temporary workers and enables them to carry out a number of short-term contracts for agencies and end-clients.

Unique Tax Reference Number (UTR) - A Unique Tax Reference number (UTR) is made up of 10 numbers and is posted by HM Revenue and Customs to you when your company has been incorporated. The UTR is used when completing your Self Assessment tax return.

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V

Virtual Office - The Virtual Office service specialises in providing virtual office solutions that can make a difference to your business, including mail forwarding, telephone answering and fax forwarding.

W

WebFilling - WebFiling provides a secure system for users to submit company information to Companies House. A WebFiling link is on the Companies House homepage or use the WebFiling website address.

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