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Flat Management Company Formation
Flat management companies are commonly used to store the freehold interest in a property and to provide facilities to the residents in the communal parts of the building.The residents themselves usually act as the company directors and shareholders. It is not normally necessary for every person to be a director although each will normally hold one share.
Legal Requirements
When forming a flat management company with a share capital you will need to appoint a minimum of one director and one subscriber holding at least one share in the company.
Our Procedure
We offer a quality service using specially drafted Articles of Association suitable for a flat management company.Your completed forms are received in our office; we check them for their accuracy and the availability of the company name. You will be notified of any irregularities in your forms so as to avoid the application being rejected by the Registrar of companies.We take care of the complete company registration process including appointment of your directors and secretary. Shares are issued at the time of company incorporation to your nominated shareholders.Time Scale: Your flat management company will be incorporated electronically within 24 hours and the certificate of incorporation delivered to you by email. The full set of documents and the completed statutory register will be posted to you within the next 1-2 days.
Price & Package
£176 + vat
What you will get:
- FREE intelligent name check
- Fast Track Service
- Companies House fee paid
- Add up to 6 directors and shareholders
- Certificate of incorporation by email and as a hard copy on quality paper
- 6 Bound copies of Memorandum and Articles of Association
- Companies House authentication code for web filing
- Unlimited email support
- Unlimited tel support
- FREE bank account *
- FREE tax advice from a qualified chartered accountant
- Company statutory register with fully completed sections
- First Minutes of the Board Meeting
- Share certificates on quality printed paper
- Form AA01 - change of accounting reference date
- Form SH01 – for further share allotment
- Delivery of documents by 1st class mail
The flat management company formation package provides you with all necessary documents printed on quality paper, ready to be presented to respective shareholders/directors. There is nothing for you to do when you receive the documents other than arrange a meeting with the dwelling holders. Additional forms are also supplied for any future requirements for the administration of your business.Our free business banking introduction is available to all customers purchasing the flat company formation pack. All you need to do is inform us of your interest by selecting the banking option on the order form.
If you have any questions please contact us by email info@eformations.co.uk or call us on 0208 232 5479
FAQ
What is the capital of a flat management company?
Typically, a property divided into 8 flats will have a capital of £8 divided into 8 shares of £1 each. Each flat owner will own a share in the company. As shareholders, the flat owners have their say in running the limited company.
What about Memorandum and Articles of Association?
The Memorandum and Articles of Association are based on Companies Act 2006, as for a private limited company but it will include specific clauses tailored for a flat management company. For example, the Articles of Association will usually say that when a flat owner sells his flat his share must be transferred to the new owner.
What does the company actually do?
A flat management company is commonly used to hold the freehold of a property. The property may be divided into various dwellings or flats. The company is often used for collecting a central pool of cash for carrying out repairs and maintenance to common parts of the property.
What are the requirements of a flat management company formation?
The requirements are the same as for a limited company with share capital: A minimum of one director and a minimum of one member. The registered office address must be in the country of incorporation
What are the annual costs of maintaining the company on the Register?
It should be particularly noted that the directors of a flat management company commonly overlook the annual compliance requirements laid down by Companies House with the result that the company gets struck off the Register. The property and any other assets owned by the company are frozen and go to the bona vacantia department.
