Reasons why UK residents should not avoid the appointment of a company secretary - since 2008, private companies have not been legally obliged to appoint a company secretary, although public companies still must. Whilst this has given small companies an element of flexibility, it has not changed the fact that the specific tasks carried out by company secretaries still need to be completed.
Many of these tasks are mandatory, including the filing of official paperwork with Companies House and the submission of annual accounts. At Coddan, we can appoint a nominee secretary to your business - ensuring that these essential administrative duties are completed accurately and on time.
Although a limited company secretary is not required by law, any successful, well-run business should have someone to take responsibility for the essential duties they usually undertake. For instance, they will usually ensure that changes to directorships are filed with Companies House, and that the statutory registers are updated. They will take charge of meetings between directors, take minutes and deal with any subsequent actions.
A private company secretary monitors the general operations of the organisation to ensure that it remains compliant with the law. This includes notifying Companies House of any resolutions passed by directors - using the correct submission forms.
The secretary will usually be the person responsible for gathering profit and loss accounts and submitting them in the proper way. These are statutory responsibilities of all incorporated organisations, and failure to comply can lead to hefty fines, and in the most serious cases, being struck off the companies register.