9. Companies: Recordkeeping, Filing, and Disclosure Flashcards
A private company is required to keep a register of what four groups and what one thing?
- Members
- Directors
- Secretaries
- People with significant control
- Charges against the company’s assets
Where are the registers required to be kept, to be inspected by whom?
At the company’s registered address, to be inspected by members for free and the public for a fee
Which registers can the company elect to keep at Companies House?
Registers of directors and members
What is the minimum time minutes of shareholders’ meetings must be kept?
10 years
What is a confirmation statement and is it always required?
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
What must a company with share capital deliver with their confirmation statement?
A statement of capital if there has been a change since the last confirmation statement
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?
14 days
Within what period from the end of the accounting period must (1) a private company and (2) a public company file their accounts?
Private company: Nine months
Public company: Six months
What two things must be included in the accounts, and what view must they give?
- Balance sheets on the last day of the accounting period
- Statement of profit and losses
Must give a true and fair view of the company.
Who must approve that the accounts reach this standard?
The directors
What type of companies must file an annual directors report?
Medium and large companies, i.e. companies with more than 50 employees or turnover of £10 million or more
What type of companies must file a strategic report, and what is the purpose of this?
Medium and large companies. Strategic report helps members assess how the directors have promoted the success of the company.
Concerning a director/officer, what two things must be reported to Companies House within 14 days?
- Appointment or termination
- Change in residential address
Within what time period must special resolutions, as well as ordinary resolutions to allot new shares be filed with Companies House?
15 days
Where a special resolution to reduce share capital is filed with Companies House, what must accompany it?
A statement of solvency
