What company records and registers do I have to keep?
Limited companies must keep business and accounting records of all income, expenditure, assets and liabilities, as well as statutory registers, copies of all accounts and statutory filings, minutes of meetings and decisions taken by directors and shareholders.
Limited companies are legally required to keep and maintain a number of statutory records and registers.
It is the responsibility of directors (or a company secretary, if one is appointed) to ensure these important records are accurate, up to date, and made available for public inspection at the registered office address or an appropriate Single Alternative Inspection Location (SAIL address).
Where applicable, you should keep the following records and registers:
- Register of members – shareholders or guarantors
- Register of directors
- Register of directors’ usual residential addresses
- Register of secretaries
- Directors’ service contracts
- Register of charges and instruments creating charges – mortgages or secured loans
- Minutes of board meetings and shareholders’ meetings
- Copies of decisions and resolutions
- Record of directors’ indemnities – security against liability claims or legal costs.
- Record of debenture holders
- Record of the sale of company shares
Where to keep your company records?
Unless otherwise notified, Companies House will assume your statutory records are held at your registered office address. If it is inconvenient to make certain records available for inspection at your registered office, you may keep some or all of them at a SAIL address. You must notify Companies House if you keep any statutory records at a SAIL address, and you must confirm which records are held there.
A SAIL address must be in the same country as your registered office, and you can only have one SAIL address at any given time. You must notify Companies House if you move any records, and you will be expected to confirm their location whenever you file an annual return.
Inspection of statutory records
Companies are required by law to make their statutory records available for public inspection at their registered office or SAIL address every working day between the hours of 9am-3pm.
Advance notice of the date and time of inspection must be provided to the company – a minimum of 2 days’ notice is required if the requested inspection date coincides with the notice period of a general meeting of the shareholders or a written members’ resolution. In all other cases, the required notice period is 10 working days.
How to keep your statutory records
The majority of limited companies will keep all of their statutory registers together in a bound or loose-leaf folder or book. This ensures all important documents are filed together and easily accessible for inspection purposes.
If you wish, you may keep digital copies instead of, or in addition to, your paper registers.
Rapid Formations Services
We provide digital copies of statutory registers with all of our company formation packages, with the exception of the Basic Package. The option of a hardback loose-leaf register is also available during the registration process, or afterwards through our Online Admin Portal.By Rachel Craig at Rapid Formations – Follow Rachel on Google +