What Happens After Company Formation?

Once you have registered your company the next step in the company formation process is appointing your Company Officers. Company’s officers are appointed members of the company who are formally named as Company Director and Company Secretary in the Articles of Association. The role of the Company Secretary will be considered in a future post, however, for now we will review the role of Company Director, the conditions of appointment and Company Director’s responsibilities.

As stated in the Articles of Association, to comply with company formation legal requirements, Company Directors must be appointed at the point of company formation and their names and personal addresses detailing in the company registration documents It is a legal requirement for company officers to be in place at all times and for their names and current addresses to be written on the registration documents

Company Directors

The Company Director is responsible for ensuring that the company conducts itself in accordance to what was stated in the Articles of Association. Though the Companies Act offers no definitive list of what a Company Director’s responsibilities are, the roles outlined below are commonly thought fall under the jurisdiction of Director’s responsibility. 

Responsibilities of a Director

-Manage a Companies accounts
-File annual returns with Companies House
-Inform Companies House of a change of directors or secretaries
-Notice of change of registered office

Though there are no formal requirements for being a company director, there are a couple of restrictions. You cannot hold a directorship if:

-You are an undischarged bankrupt
-You have been prohibited by a court from holding a directorship
-You are under 16