Setting up a limited company for £31.26...

Slinky

These guys will set up a ltd company for only £25 + VAT = £29.36. http://www.companiesmadesimple.com/index.htm

I used this service across the weekend to set up my company, so presumably it will be processed today. I've read in the other advice on this thread about Memorandum and Articles of Association needing witnessing and Form 12 needing to be witnessed by a Solicitor, before sending it all off to Companies House for registration. How does this lot all work if you're applying electronically? Don't want to discover there's something we should have signed and dealt with that we haven't done.

johnllew

As far as I understand, the form 12 will be dealt with by the formation company. My M&A of Assoc did not require witnessing - where did you come across that?

You can find advice on the procedures from Companies House

Slinky

As far as I understand, the form 12 will be dealt with by the formation company. My M&A of Assoc did not require witnessing - where did you come across that?

I came across it on the Companies House website:
"4. What is a memorandum of association?

This document sets out:
the company's name,
where the registered office of the company is situated (in England, Wales or Scotland); and
what it will do (its objects). The object of a company may simply be to carry on business as a general commercial company.
Other clauses to be included in the memorandum depend on the type of company being incorporated. The form of memorandum for each type of company is set out in a set of tables called The Companies (Tables A to F) Regulations, 1985. (In this booklet we have called them 'the Tables'.) The company's memorandum delivered to the Registrar must be signed by each subscriber in front of a witness who must attest the signature

5. What are articles of association?

This document sets out the rules for the running of the company's internal affairs. Model articles are provided in the Tables mentioned above.

A company may adopt the whole of Table A as its articles or any part of it.

A company limited by shares which has adopted the whole of Table A without modification does not need to deliver a copy for registration. However, you must attach a letter to your application saying this.

NOTE: If you adopt Table A without modification then you will need to appoint at least two directors. However, a private company can have just one director, if it's articles allow (see question 8). So if your company will have only one director, you need to adopt a modified version of Table A.

If Table A is adopted with modifications, you must deliver the articles for registration"

This makes me wonder whether I've done the right thing as I only have one director (me) and a secretary (my other half), but we've adopted the M&A without modification as far as I'm aware.  

Will have to have a close read of them and see what it says.

johnllew

This makes me wonder whether I've done the right thing as I only have one director (me) and a secretary (my other half), but we've adopted the M&A without modification as far as I'm.

Have you received confirmation that the company has been incorporated? If so, you should be able to take it as read that the formal requirements you've highlighted have been dealt with by the formation agent. If in doubt, give them a ring; they're quite helpful.

Have a look at the Articles of association sent to you electronically. Clause 8 (a) should say the minimum number of directors is one. So you should be OK with one director and a company secretary, though my wife is a director as well as a CS.

Slinky

Have you received confirmation that the company has been incorporated? If so, you should be able to take it as read that the formal requirements you've highlighted have been dealt with by the formation agent. If in doubt, give them a ring; they're quite helpful.

Have a look at the Articles of association sent to you electronically. Clause 8 (a) should say the minimum number of directors is one. So you should be OK with one director and a company secretary, though my wife is a director as well as a CS.

I have received the electronic M&A (although not the hardcopy of the Certificate of Incorporation, even though I paid the extra for this - chased them by email last night). I will take a good look at Clause 8 (a) tonight as you suggest.

Thanks

withnail71

By setting up your own LTD company does this make you VAT registered? Do you need to be VAT registered? to be able to buy wholesale stuff thinking of setting up a company to trade online. Does anyone have anymore info in laymans terms?

any help would be appreciated

thanks ???

MarkyMarkD

VAT registration and company status are two separate things. If you are over the VAT registration threshhold, you have to register whatever sort of entity you are. Being a limited company is neither here nor there.

You don't need to be a limited company, or VAT registered, to buy stuff wholesale or to trade, unless you go over the VAT registration threshhold in which case you still only need to be VAT registered and can remain as a sole trader/partnership/whatever.

Slinky

VAT threshhold is £58K for this tax year I believe.

Going back to my previous posts, it looks as though the registration company (Companiesmadesimple) have made the appropriate amendments to my documents to reflect there is only one director, so that's OK.

One thing I would say though, is don't whatever you do, waste any money on the 'certificate on legal paper'. I've paid £15 + VAT for a wonky print from an inkjet printer, on what is just a standard piece of yellow 100gsm paper. I happen to have some yellow paper and the copy I've printed from the elcectronic version they sent me is better than theirs. I have emailed the company and asked for my money back for this. Will let you know what happens.

Slinky

Correspondence is continuing with Companiesmadesimple. I've requested a refund of the £15 + VAT for my wonky certificate. They said they will check the quality of their printer output and re-print and send it to me. In the meantime I've checked with Companies House who inform me that Certificates should be printed on 160gsm paper (to be fair, the wonky copy I have probably is 160 not 100 that I previously thought).

Companiesmadesimple say this paper is expensive. I've found it at £16.95 for yellow 160gsm paper, for 250 sheets, which works out less than 7p per sheet. I have forwarded a link to Companiesmadesimple with the suggestion they change their paper supplier.

I await their reply, and the refund of £15 + VAT....

zcaprd7

To be fair Johnlew did say not to bother with the printed out documents and to DIY?