A Limited Company is simply a vehicle for carrying out business and is a considered to be a separate legal entity from the owners (shareholders) of the business, the company’s directors are then appointed by the shareholders to run the business on their behalf. With private companies, the shareholders and directors are often the same person. As the Director you have overall responsibility for the company, a duty to act in accordance with the company’s constitution (Articles of Association), in the best interests of the company and to promote the company’s success. It is also the responsibility of the director to ensure that all statutory documents and tax returns are filed on time.
For each accounting period, Companies House requires the company to deliver accounts within 9 months of the period end (earlier dates apply in the first year or when the accounting reference date has been altered). Providing the company is classed as ‘small’ under the Companies Act 2006, Companies House will allow Abbreviated Accounts to be submitted.
The company is also required to update its details with Companies House each year by submitting an Annual Return (AR01 form) which lists details of the registered office, service address and shareholder details etc. This is due for submission 28 days after the anniversary of the company’s incorporation each year.
Nixon Williams can assist you in meeting your statutory obligations with Companies House; feel free to contact us for assistance.
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