Ltd Company set up question?

[azil]

Can someone explain in details what the following are, and what is required to be in them, in relation to setting up a Ltd Company:

• Memorandum and Articles Of Association
  First Minutes of the board

Thanks!

 

[Ozzy]

Hi Azil,
The Mem&Arts as they are commonly known detail how the company is to be structured and run, including the policies relating to things such as share transfers, appointing of directors, etc.

The first minutes of the board is something which is usually referred to when purchasing an "Off the shelf" company. These usually record the moment when the first director, secretary and shareholder remove themselves from the company and the new company owners are appointed. Ofcourse, technically the first minutes are just that, if the first meeting was to discuss what coffee machine to get then that is what is recorded

There is a lot more to the Mem&Arts than what I mention above, and various things to take into account if your requirements go "beyond the norm" such as FSA approval and so on. If you need more information I would recommend giving a formation agent a call (hint hint) or having a read through http://www.companies-house.gov.uk/

 

[BMS]

Hi Azil

As Ozzy says, a good formation agent (as I'm Sure Ozzy is) will be able to provide Mem & Arts when you set the company up.

If you need any advice on the bookkeeping and payroll side ( also hint hint ) please feel free to contact us.

Every success in your new venture.

 

[azil]

I'd already looked at companies house website but couldn't seem to find what I was looking for. :roll:

So thanks for the replies.

 

[MikeH]

Here is a link to some basic answers to some popular questions including your question-

http://www.sfsgo.com/faqs.asp#27

Hope that it helps

Mike.