Company Secretarial

Company Secretarial

FREQUENTLY ASKED QUESTIONS (FAQ) ABOUT COMPANY SECRETARIAL

Is a Company Secretary the same as a Secretary?

No. A Company Secretary's role does not entail clerical or secretarial.

What is the role of a Company Secretary?

A Company Secretary is responsible for running the administrative side of the company efficiently. It involves ensuring that the company and its directors comply with relevant legislation such as:

  • Maintain the company's statutory books and records.

  • Maintain the Registered Office Address which is the address for formal communications.

  • Arrange Directors' and Shareholders' meetings.

  • Sign legal documents on behalf of the company's directors.

  • Ensure the company complies with Companies Act 2006.

  • Ensure the security of the company's legal documents including the certificate of incorporation, Memorandum and Articles of Association and share certificates.

  • Complete and file the Confirmation Statement i.e. Companies House has up to date details of the company.

  • File changes in company details such as appointments and resignations of directors with Companies House.

VF Accountants can help you by undertaking some of the filing duties.

 

What are the implications of non-compliance with filing requirements?

The company may face late filing penalties and it may even be struck off the register of companies i.e. closed down. Directors can be personally prosecuted and fined. Thus, non-compliance can be costly.

What are the penalties for failing to maintain the company's statutory books and records?

Failure to keep statutory registers up to day will result in a penalty of £5,000.

 
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