company registers

Company Registers: What You Need To Know

Victoria Scally News

Company Registers are very important legal documents for your company.

In this blog we give you a summary of the information you need to know as a small business owner.

What are they?

Company Registers are simply documents that Limited Companies are required to hold. There is a piece of law called the Companies Act, amended in 2006.

These registers basically say who owns and control the company. The is crucial information required for many reasons, including validating the share ownership, securing a loan/investment or selling a business.

What registers and information do I have to keep?

  • Register of Members 
  • Register of Directors 
  • Register of Directors’ Usual Residential Addresses 
  • Register of Secretaries
  • Register of People with Significant Control (PSC register) 
  • Register of Charges (only those created before 6 April 2013) 

It is also normal to hold a register similar to that of the members register, which shows ‘allotments’ and transfers of shares.

There is a mix of personal details about the members and directors, along with key dates and information.

Where do they have to be kept?

Keep your registers digitally or on paper. In years past, a large binder was usually the standard format! Keep these at your registered office or a ‘SAIL’ address (Single Alternative Inspection Address).

Is there another option?

Yes. In June 2016 there was an option to put the registers on the public record at Companies House instead. The problem with this, is that all of the personal details of the members of the company will be public! Not a desired result for most owners!

Who can look at them?

Members of the company may inspect the registers free of charge. Members of the public even ask for access, although conditions apply and usually they will need to give at least 10 days notice.

What if I don’t keep them?

You risk an unlimited (‘Level 5’) fine.

Erm, ok. Well I don’t have these.

Many business owners that formed their company online, do not realise that these don’t automatically get produced. 

If you realise that you have not been keeping company registers you must rectify this oversight as soon as possible.

You can produce these yourself, or if you need any help, our team have a service that can get this sorted for you, so just get in touch.