The Simplest Company Formation Service
Site Updated:
Bronze
Bronze Plus
Silver
Gold
Platinum
Diamond

 

Off The Shelf Companies

 

In the past when company formations were not easily available via the Internet; companies would be need to be manually set up either by post or in person at Companies House.  Postal applications could often take up to two weeks and any application in person was also very time consuming.   The idea behind these Off the Shelf Companies was to reduce the time it took to get companies up and running for individuals wanting to get new businesses going; therefore accountants and formation agents would hold already registered Off the Shelf Companies quite literally for sale “off the shelf”.


So if time is a pressing factor, an individual could always look at acquiring a ready made company. There are many Off the Shelf Companies available from numerous formation agents as well as accountants and this can be a very attractive alternative to having to set up a company from the beginning in conjunction with Companies House. Many off the shelf companies can be acquired and then be up & running in a matter of hours.


The process involved is dependent on which formation agents you opt to work with, however the basic steps in this procedure are;


Firstly you need to reserve and purchase the company.  Formation agents typically have quite a number of companies recently incorporated already available from their shelves.

 

Formation agents can provide a list of names for you to make your selection from.

 

Additionally, if need be, the formation agents can also set up special resolutions to change the name and main objects, and subsequently arrange for these to be sent to the Registrar of Companies. This can happen at the time of purchase.

 

Off The Shelf Companies


Secondly, in order to proceed with the acquisition of the company; purchasers will have to provide the formation agents with;  

 

  • AP01 that provides the name of the new director and the new secretary.  It is also signed by them.  A couple of points to note; that the same individual may not be both director and secretary and that for the appointment of a corporate director, an AP02 form should be filled out instead.  
  • AD01 declaring the site of the new registered office should be completed.  An AD05 should be used if it is for a change of the location of a Welsh company or an English / Welsh Company.

 

Any applicant wanting to be a company director must fulfill certain criteria to be considered suitable for the role. This means they cannot be:


•           Bankrupt
•           Below sixteen years of age
•           Prohibited from being a director by a Court.


Off The Shelf CompaniesTo qualify, any potential applicant for the role of a company secretary must:

 

  • Be a lawyer practicing in the UK,
  • Or possess membership of a professional accountancy body within the UK,
  • Or has been a company secretary before,
  • Or the directors have confidence that the individual possesses good enough experience and knowledge for the intended role,
  • Or the individual has membership of some other professional body deemed acceptable by the directors.