Frequently Asked Questions
Listed below are answers to some of the most common questions we are asked. If a question you need an answer to is not listed below please email us and we'll be happy to help.
A limited company is a separate legal person created by incorporation at Companies House. Its profits, losses, assets and liabilities are its own. The company is owned by its members (the shareholders) and run by the director (or directors) whose assets are protected from loss if the business should fail. This is sometimes referred to as limited liability. Because a company has a life of its own the business can continue despite the resignation or death of any directors or shareholders and the sale of the business or the introduction of outside investors is simplified. Reasons for wanting or needing a limited company may include ownership of property, obtaining outside finance, taxation, status and protection from risk.
Once incorporated Companies House issue a certificate and company registration number. This becomes the company's ID so to speak. You can change the company's name at any time but you still keep the registered number. The profits, losses, assets and liabilities belong to the company. The company is then owned by its members (the shareholders) and run by the directors. If the company should fail the directors personal assets are protected. Because a company has a life of its own the business can continue to trade despite the resignation or death of any directors or shareholders.
Our system uses the Electronic Filing facilities at Companies House. This means that whatever the time of day, when you place an order on our website your company formation request is sent instantly to Companies House for processing. Companies House then aim to respond to electronically filed documents within 4 working hours. Although this is not always possible, it does generally mean that if you placed an order before midday on a normal working day we can have your company incorporated by the end of that same day
It is important to check that the name you want is acceptable to Companies House.
The company must state its name, in legible lettering, on the following:
Every company must paint or fix its name on the outside of every office or place in which its business is carried on - even if it is a director's home. The name must be kept painted or fixed and it must be both conspicuous and legible.
Changes to the Companies Act in 1989 mean that a seal is no longer required and therefore our standard package does not include a seal.
Companies formed using Foerster Business Solutions Limited are formed with the correct offices and subscribers (shareholders) from incorporation. This means that there is no need for the commonly referred to "First Meeting" to resign the nominee officers. This also saves time when opening a bank account as it will always be the correct officer details displayed on a company search by the bank.
Companies formed using FBSL are formed with the correct share holders from incorporation, so there is no need for initial share transfer forms. Importantly, this also means there is no need to pay stamp duty on the transfer of any shares either. However, we do have Form 88(2) available for download from this website, under the Companies House menu option, should you wish to issue any further shares in your company after incorporation.
The accounting reference date is the date in each year to which accounts will be drawn up. The date depends on the date of incorporation as it is the last day of the month in which the anniversary of incorporation falls. For example, if your company is incorporated on 2 July this year, the accounting reference date will be 31 July, and its first financial year must end on 31 July next year (or within seven days of that date).
You may change it by sending Form 225 (available for download from this website under the Companies House menu option) to the Registrar. You must do this during the accounting period affected by the change or during the period allowed for delivering the associated accounts.
This is the number of shares your initially authorise your company to issue to shareholders/subscribers. Usually a share issue of 1000 with each share valued at £1.00 is used.
If you wish to issue further shares up to the authorised share capital form 88(2) should be completed and sent to the Registrar of Companies.
Private companies that have not traded or otherwise carried on business for at least three months may apply to the Registrar to be struck off the register.
The registered office is an address in England or Wales (or Scotland if your company is registered there) where documents can be delivered to the company.
Valid addresses - Companies House uses the Post Office address file to verify addresses; so, to avoid delays, please ensure that your proposed registered office address is recognised by the Post Office and always give the correct postcode on forms sent for registration.
If a company changes its registered office address the new address must be notified to Companies House on Form 287.
Yes, we are able to offer a Registered Office address based in Manchester at £55.00+VAT per year. To take advantage of this service just tick the box whilst filling in your company registration application.
We can register you for VAT at a cost of £45.00 whilst your company is being formed. For detailed advice on VAT issues it is best to seek the advice of an accountant.
Your Accountant is probably your best source together with the Inland Revenue Website. The Inland Revenue will automatically post you a registration form after you register your company.
Foerster Business Solutions offer six levels of registration package, along with a number of other options available at the end of the formation process. More information on these can be found on our Services page. However, all levels of service provide you with your complete company formation, certificate and Memorandum and Articles documents to start trading.
If Companies House reject your application our system will automatically email you informing you of this. You can then log back into our system and make the necessary modification to your application and resubmit your forms back to Companies House.
Yes. We offer formation agents and other organisations that form a large number of companies the opportunity to offer our services under their own name.