Limited Liability protects the owner of a Limited Company from personal loss as the company is a separate entity and hence has its own profits and debts - i.e. any debts incurred would be the company's debts and not the individuals. This is unlike the owner of a business as his business debts would in fact be his personal debts.
Yes, you cannot use certain "sensitive words or expressions". These word include British, Great Britain, England, English, Scotland, Scottish, Wales, Welsh, Ireland, Irish, United Kingdom, National, International, Association, Authority, Group, Holdings and many more. However, this does not mean that it is impossible to use them because they each have specific criteria governing their use. 121 Company Advice will be happy to advise our customers regarding these criteria for any "sensitive words". For example, the word "International" can be used if we are advised of the countries that the Limited Company would be trading with, "Holdings" can be used if we are advised of another Limited Company that the new company will hold the majority of shares in.
Yes, although it may be wise to protect your trading name using the Business Names Registration service through National Business Register before commencing business so as not to infringe on an existing trading name and to ensure protection for your name for the future.
Yes, once the company is formed and the Directors/Secretary are in place, the company can remain dormant until you need it. However, on the anniversary of its incorporation you must file an annual return and nil accounts ("nil" if it has never traded) with Companies House. You must also remember to keep Companies House informed of any changes within the infrastructure of the company as they happen e.g. if there are changes in Directorship or Registered office. This requirement is also the same for companies that are trading and we can assist you with these ongoing matters.
To form your company, the minimum requirements are as follows:- You will need at least one director and at least one shareholder, a UK registered office address (or it can be your home address although, by law you must display a company nameplate at the premises). We can supply a prestige registered office address.
At a convenient place on your letterhead and other stationery, you need to state the full name of the limited company, the registered office address, the incorporation number and where the company was registered (e.g. Registered in England and Wales). If you are using a trading name or using a different trading address then these trading details can be prominent at the top of the paperwork, whilst the official details must still be visible at the bottom. If you need to register for VAT, then the VAT number must be stated on any invoices.
Our team are able to provide a variety of services for the set up and maintenance of your company. These services include acting as your registered office, acting as your company secretary, providing a service address, supplying a nameplate plaque, and registering for VAT and obtaining domain names. Please do not hesitate to contact us for further details.
To set up a new company costs £15 inclusive of VAT (+ £15 Companies House fee). A fully completed 'company kit' is supplied by email.
The cost includes all formation fees and the unique 121 Company Advice full company kit. This comprises of the memorandum and articles of association, the certificate of incorporation, the completed company register, share certificates, board minutes, annual accounting reference date notification and your webfiling authentication code.
To form a new company takes just a few hours.