July 27, 2016

Forming a Private Limited Company

Are you thinking of starting a private limited company? A Glasgow accountant from The Kelvin Partnership will be able to help you no problem!

There are several different steps to be followed in the formation of a private limited company (Ltd). This guide will help you to understand the different aspects of company formation as well as the restrictions surrounding the different steps.

Men working starting a private limited company

How Do I Incorporate My Company?

There are a number of different ways of incorporating your private limited company. Each of the processes typically involves a cost and it is vital that your forms are filled in correctly. It can be helpful to have an accountant help you through the stages of company formation to ensure that the right steps are taken in incorporating your company. At The Kelvin Partnership we will make sure that you have all the correct documents as we will help you through all the stages of company formation.

Directors and Secretaries

Part of the process of company formation is the appointment of company directors and secretaries. When forming a private limited company, you must appoint at least one director, however, certain conditions may increase this minimum. We can guide you through this process to ensure that you meet the requirements for your company. Private companies do not require a secretary, unless it is specified by the company itself. There are also guidelines regarding who can be appointed as your company director. It is important that you appoint the right person as director, as this person(s) will be responsible for the running of your company. Again, we can guide you through the process and help you make the best decisions for your business.

Company Name

Before you can starting a private limited company, you must register your company with “Companies House”. This means that your name must meet strict guidelines. If you are unsure of whether your name meets these guidelines, then an accountant can help you with the formation of your company. We can help you understand the guidelines set out by Companies House to ensure that your name is suitable.

Quality of Documents

When starting a private limited company it is critical that your companies house forms are clear and legible. All forms must meet the specific guidelines around both paper and electronic forms. An accountant can ensure that the forms meet the strict guidelines (particularly for paper forms) to help with your company formation.

Company Formation

With so many strict guidelines and regulations surrounding company formation, it is crucial to file your forms correctly. At The Kelvin Partnership, we can help you through the process of company formation.

With an accountant by your side from the very beginning, you will have a business friend you can trust. We can provide you with guidance on many aspects of your business to keep you on track to success, from the first inception of your business.

If you are simply starting up a business and would like more information, see our last post about start up advice!

If you are interested in our company formation services, or any of our other accounting services, then do not hesitate to get in touch.