Companies - Record-keeping, Filing, and Disclosure

Question 1

Which five registers must companies keep available for inspection or for the public?

Answer 1

1. Members
2. Directors
3. Secretaries
4. Charges
5. Persons with significant control

Question 2

How many years should a company keep minutes from general shareholder meetings available for inspection?

Answer 2

10 years

Question 3

How many years beyond the term of a service contract should copies of such contracts be kept by the company members?

Answer 3

1 year

Question 4

When a company has appointed a Director, within how many days must they file an appointment of Director form at Companies House?

Answer 4

14 days

Question 5

When a company has removed a Director, within how many days must they file a termination of appointment of Director form at Companies House?

Answer 5

14 days

Question 6

When there’s been a transfer or issue of shares, how soon must a company issue a new share certificate to the shareholder?

Answer 6

2 months

Question 7

When there’s been an issue of shares, what form must a company file at Companies House and within what timeframe?

Answer 7

Return of Allotment shares form

1 month

Question 8

When changing the articles of association, the special resolution and new articles must be filed at Companies House within how many days?

Answer 8

15 days

Question 9

What must companies submit to Companies House to state that the information at the house is up-to-date?

Answer 9

Annual confirmation statement

Question 10

It is a criminal offence to fail to file the confirmation statement within __ _____ of the end of the company’s review period

Answer 10

14 days

Question 11

How many months after the relevant accounting reference period must private companies send copies of their accounts to Companies House?

Answer 11

9 months

Question 12

How many months after the relevant accounting reference period must public companies send copies of their accounts to Companies House?

Answer 12

6 months

Question 13

What two things must accounts sent to Companies House include?

Answer 13

1. Balance sheet
2. Profit and Loss statement

Question 14

What is an annual director’s report?

Answer 14

A report that medium and large companies must file which names the directors and states any amounts they recommend should be paid by dividend

Question 15

What is an annual strategic report?

Answer 15

A report that medium and large companies must give to members of the company on the development and performance of the business, so members can assess director’s performance

Question 16

Failure to file accounts on time lead to what 3 things?

Answer 16

1. Automatic civil penalty
2. Possible criminal sanctions
3. Possible disqualification of directors

Question 17

What are the five things that a letterhead of a company must disclose?

Answer 17

1. Registered name
2. Part of UK which the company is registered
3. Registered number
4. Registered office
5. Any director = all directors

Question 18

What three things must a partnership letterhead disclose?

Answer 18

1. Partnership Name (a firm)
2. Member’s names
3. Business address

Question 19

What three things must a sole trader letterhead dislose?

Answer 19

1. Individual’s business name
2. Real name (if different to 1)
3. Business address