9. Companies: Recordkeeping, Filing, and Disclosure

Question 1

A private company is required to keep a register of what four groups and what one thing?

Answer 1

1. Members
2. Directors
3. Secretaries
4. People with significant control
5. Charges against the company’s assets

Question 2

Where are the registers required to be kept, to be inspected by whom?

Answer 2

At the company’s registered address, to be inspected by members for free and the public for a fee

Question 3

Which registers can the company elect to keep at Companies House?

Answer 3

Registers of directors and members

Question 4

For how long must the minutes of shareholders’ meetings at least be kept stored?

Answer 4

At least 10 years.

Question 5

What is a confirmation statement and is it always required?

Answer 5

An annual update from the company confirming that the information held by Companies House is up to date, and must be filed even if there have not been any changes

Question 6

What must a company with share capital deliver with their confirmation statement?

Answer 6

A statement of capital if there has been a change since the last confirmation statement

Question 7

Within what period of the end of the company’s accounting period must a confirmation statement be filed, failure to do so is a criminal offence?

Answer 7

14 days

Question 8

Within what period from the end of the accounting period must (1) a private company and (2) a public company file their accounts?

Answer 8

Private company: Nine months
Public company: Six months

Question 9

What two things must be included in the accounts, and what view must they give?

Answer 9

1. Balance sheets on the last day of the accounting period
2. Statement of profit and losses

Must give a true and fair view of the company.

Question 10

Who must approve that the accounts reach this standard?

Answer 10

The directors

Question 11

What type of companies must file an annual directors report?

Answer 11

Medium and large companies, i.e. companies with more than 50 employees or turnover of £10 million or more

Question 12

What type of companies must file a strategic report, and what is the purpose of this?

Answer 12

Medium and large companies. Strategic report helps members assess how the directors have promoted the success of the company.

Question 13

Concerning a director/officer, what two things must be reported to Companies House within 14 days?

Answer 13

1. Appointment or termination
2. Change in residential address

Question 14

Within what time period must special resolutions (including to reduce share capital), as well as ordinary resolutions to allot new shares be filed with Companies House?

Answer 14

15 days

Question 15

Where a special resolution to reduce share capital is filed with Companies House, what must accompany it?

Answer 15

A statement of solvency

Question 16

Within what time period of the issuance of new shares must Companies House be notified?

Answer 16

One month

Question 17

When is a change of company’s registered office effective?

Answer 17

When it is filed with Companies House

Question 18

What four things must a company disclose on its letterhead?

Answer 18

1. Registered name
2. Part of the UK it is registered
3. Company number
4. Registered office address

Question 19

What must a company do if it displays the name of one director on its letterhead?

Answer 19

Display the name of all of them

Question 20

What three things must a partnership display on its letterhead?

Answer 20

1. Name of the partnership
2. Name of each member
3. Business address

Question 21

Following the appointment of a director what must be filed at Companies House within 14 days?

Answer 21

The Appointment of Director form must be filed at Companies House within 14 days.