Yesterday’s blog concentrated on the role of the Company Director post company formation. Today, we are going to consider the roles and responsibilities of the Company Secretary. Historically, all limited companies must appoint a company secretary at the point of company formation. However, due to rules stipulated in The Companies Act, since April 2008, companies are no longer required by law to have a company secretary. Indeed, they can now operate, post company formation, with a sole director.
Traditionally, the role of Company Secretary is one of administration. Though the roles and responsibilities of the company secretary are not codified by law and will vary according to the size of the business, there are several activities that the company secretary would usually manage;
– Registered Office
A crucial point of the company formation process, is registering an address for your business. This address must appear on all company stationary and be made available on all literature. It is the Company Secretary who manages this.
– Company Meetings
Once the company formation process is complete, your company will begin to meet to discuss the activities of the business and how you will move forward. Traditionally the company secretary arranges company meetings and keeps a record of actions and points discussed.
– Companies House
Historically, the company secretary manages the relationship between your business and Companies House. They carry out the below activities:
Submission of Annual Returns
Submission of Annual accounts
Notifying Companies House of changes to company director details, registered office or share structure.