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April News COMPANIES ACT 2006 – APRIL 2008 IMPLEMENTATION A number of matters under the Companies Act 2006 are implemented from 6 April 2008: (a) Accounts changes for companies with accounting periods starting on or after 6 April 2008. The delivery time for accounts has been reduced by one month for both private and public limited companies. Private companies have reduced from 10 months to 9 months and public companies from 7 months to 6 months. Full calendar months for filing periods have been introduced. Where the accounting period ends on a month end, the accounts filing period will end on a month end, except for the first accounting period. The accounts balance sheet and the directors’ report will be required to refer to the Companies Act 2006 statement. (b) Secretary changes. The company secretary becomes optional for private companies but will remain mandatory for public companies. From 6 April 2008 the provision for enabling private companies to choose whether they wish to have a company secretary will come into force. A private company will have the option of whether or not to maintain their company secretary. If they no longer need a company secretary they will need to inform Companies House and may be required to amend the Articles of Association if there is a specific reference to the company having a secretary. However, if the Articles only refer to the secretary’s duties there is no need to make an amendment. The company may need to submit a written or special resolution, together with an updated version of the Articles. (c) Capital changes Public Limited companies need to establish whether they are maintaining the minimum share capital in sterling or Euros, whereas previously only sterling was permitted. The minimum authorised share capital is either £50,000 in sterling or €65,600. (d) Auditors For accounting periods starting on or after 6 April 2006 auditors’ reports will have to state in the case of an individual the name of the auditor and be signed by him. Where the auditor is a firm the report must state the name of the senior statutory auditor, the name of the firm and be signed by the statutory auditor in his own name. All signatures on auditors’ reports must be dated. For any advice on company matters, please contact us. The Companies Act 2006 is one of the largest pieces of legislation passed in the UK. We can assist in ensuring that your company continues to be compliant with up to date legislation.
March News HIPS
LGP can provide your HIP guaranteed to be compliant with HIP legislation and competitively priced. Divorce Following the high profile McCartney –v- Mills divorce settlement, good legal advice is clearly a pre-requisite to obtaining a settlement that meets the parties’ needs. Unrepresented parties in any litigation can be at a great disadvantage not only in finding their way around the law and their opponent but also in dealing with the masses of paperwork that may be involved in a divorce. February News Lucinda Holliday, a trainee with LGP Solicitors, was admitted to the Roll of solicitors on 15th February. January News New law firm emerges from recently dissolved Marlow business A new legal practice, LGP Solicitors, opened for business on January 2nd 2008. The practice, which has been set up by three partners of the recently dissolved Cripps and Shone, is based in Chapel Street and offers the local community all key legal services including Property and Conveyancing, Dispute Resolution, Wills, Trusts and Probate and matters regarding Family and Children. The three partners, Patrick Land, Timothy Graham, and Keith Green have extensive experience in providing specialist legal services to private and corporate clients. Patrick, who has over twenty five years experience in the field, said “We are extremely excited about the new practice and intend to offer Marlow a professional yet vibrant, open, modern and client-focused service in all of the areas that matter.” Working alongside the three partners will be Lucinda Holliday, Clare Garnett and David Cogan, Accounts Manager as well as the administrative and secretarial team. All are previous employees of Cripps and Shone. Patrick and his family have lived in Marlow for over 45 years and he and his children were educated in local schools including Sir William Borlase’s school. Patrick is particularly well known in the local sporting community being the first international hockey player to come from Borlase school. More recently he has been involved in coaching local youngsters and has enjoyed success as a coach with Reading Hockey club.
Sharon, Lucinda and Lucinda’s daughter Thomasen also ran in the Rotary Clubs of Marlow and Marlow Thames ‘Santa Fun Run’ last December raising money for Marlow Rotary Club. Various events and challenges will be undertaken each year to add to their fund raising efforts.
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As part of its aim to be a valuable and positive element of the community, the new business will nominate their ‘LGP Charity of the Year’. This year they have collectively chosen to support the Maidenhead Slough and District MS Society and a number of their employees, including Sharon Davidson, who works in the Probate Department and Lucinda Holliday, who specialises in Family Work and whose children attend Danesfield School, will be running in various local races including the Marlow 5 later this year to raise funds for the charity.
