When you register your new company you need two documents: a memorandum of association and articles of association. The memorandum of association is a legal statement signed by all initial shareholders or guarantors agreeing to form the company. The ‘articles of association’ are the written rules about the running of the of the company as agreed by shareholders and guarantors, directors and the company secretary. Below we will explain in further detail when and how these documents are used.
What is the Memorandum of Association?
When submitting a Memorandum of Association, the document needs to have pertinent information which includes the following: • Where the registered office of the company is located • What the company’s purpose is • The details of the share capital that is available for issuance by the company • Descriptions of the liabilities of all the members or shareholders of the company as well as descriptions of the limits of these liabilities. Those who do the registration online (for example with a company formations agent like Company address) would not need to create a Memorandum of Association since it will be automatically made during the registration process.
What are Articles of Association?
In the document Articles of Association, one can find the rules here of how directors of a company can run the venture. Under the Companies Law in the United Kingdom, there are a number of Articles of Association that are recognized. Limited companies usually use Table A, which has a set of rules on various internal company activities. These include how to conduct general meetings, the power of the directors, shares of the company, minutes of meetings, the procedures needed for the payment of dividends, and the general way of conducting admin tasks.
How are the documents submitted?
When forming a new company, it is important that these documents are included during the application. Company address is an approved formations agent and companies can get help on these documents so owners and directors can focus more on other important things. Company Address can also assist with making sure that all pertinent documents and requirements are complete upon submission. All of these will be delivered to Companies House on the company’s behalf. With formation services from Company address, companies need not worry about not having the proper information on completing the documents. Otherwise, owners of companies can prepare the documents themselves and submit them to Companies House. Taking advantage of such services will give owners more time for other core tasks that come with forming a new company. A copy of the documents will be provided to the company. In any case that a copy is lost, companies get another copy by contacting Companies House. To find out more about how to form your company - you can contact our team on office@companyaddress.co.uk and we will be happy to talk you through the process and what’s required.
published under Business Address Guides
