Polish up your business!

With overwhelming responsibilities taking over your everyday work life, have you remembered to polish up your business so that it doesn’t look old and worn out? Are your registers up to date and documents filed? If not, have a look at the checklist below for things to remember:

  1. Maintain Statutory Registers

    All companies are expected to keep a Statutory Register containing information on Shareholders, Directors and Secretaries. Do you have a Statutory Register?  If you do, have a look at your Statutory Register, is it up to date? Does it have the most recent residential addresses for Directors for example? Brush up all this information to ensure it is correct and up to date.

  2. File documents at Companies House

    Every company has an obligation to complete an annual return each year, and to ensure this is filed at Companies House. Failure to do so before the deadline can result in the company and its officers having to pay fines. Please be aware of the annual return filing deadline for the Company.

  3. Articles

    Are the Company’s Articles of Association and Shareholders’ Agreements fit for purpose? Do they say what you expect them to say? When did you last review them? If you need assistance in re-drafting or reviewing these documents, we can assist you.

  4. Board Minutes

    Once Board Minutes have been signed by the Chairperson, they are required to be kept for a minimum of 10 years. These can be kept either as a hard copy or an electronic format, but must be made available to review if they need to be referred to at a later date.

    The above points are only a few suggestions as to what you should review; other factors such as reviewing your business contracts and checking for automatic renewals and price variations, as well as updating Software Licence policies should also be considered.

    If you would like legal advice on enhancing your business or any of the details above, please contact Saima Shabir on 01332 225 416 saima.shabir@smithpartnership.co.uk