Does a company need articles of association?

Рет қаралды 7,575

Күн бұрын

Does a company need articles of association? If so, what is their purpose? And are they the same thing as the memorandum of association?
Our resident company expert Nicholas Campion answers these questions and more, as he continues to unravel the mysteries of company governance in another episode of Whiteboard Thursday.
We also cover the subject of model articles of association, where articles should be kept and how to make changes to this important company document after incorporation.
The links mentioned in the video:
Model articles of association for limited companies - www.gov.uk/guidance/model-art...
Website: www.1stformations.co.uk/
Blog: www.1stformations.co.uk/blog/
Facebook: / 1stformations
Instagram: / 1stformationsofficial
LinkedIn: / 1st-formations
Twitter: / 1stformation

Пікірлер: 74

@kreisitsela2874 3 жыл бұрын

This is so important it constitutes the basic set of rules on how the company is to be run and the first sort of contractual agreement between the company and the members. Good work everyone! 🙂

@1stformations 3 жыл бұрын

Hi Kreisi. Thank you for your continued support! What other videos would you like to see from us in the coming weeks?

@DKOrihime 3 жыл бұрын

Loving the suit this week!

@1stformations 3 жыл бұрын

Thank you, Denzel. What were your main takeaways from this week's video?

@lauram4848 3 жыл бұрын

Another amazing video! I never knew that you could make changes to your Articles!

@1stformations 3 жыл бұрын

Thank you, Laura! Yes, you can make changes and it is surprising that many people did not know this, hence this being an episode this week! Do you currently have your own limited company?

@bryanlopez8067 3 жыл бұрын

Great video, thank you guys for all these informative and FREE videos!

@1stformations 3 жыл бұрын

Hi Bryan, thank you for your feedback! What have you learnt from Nicholas over the past fortnight?

@zafirahchoudhry6646 3 жыл бұрын

Great explanation! Thank you for also clarifying the difference between the articles of association and memorandum of association as it can be easy to confuse the two :)

@1stformations 3 жыл бұрын

Thank you for your comment, Zafirah. Yes, it is a common misconception that these two documents are the same. Is there anything else you would like to see from us?

@marianneoraw6886 3 жыл бұрын

This is such an informative video about such an important document! Thank you as always 1st Formations! :)

@1stformations 3 жыл бұрын

Hi Marianne, thank you for your feedback. What did you learn from the video today?

@mathildarimbaud2957 3 жыл бұрын

Thank you for this video Nick, I have now a much better understanding of the Articles of Association :)

@1stformations 3 жыл бұрын

Hello Mathilda, thank you for your comment. We are so glad to hear that this video has helped you understand the Articles of Association better. If there is something else that you have any questions about, then please let us know. We will be delighted to answer those for you.

@saran2869 3 жыл бұрын

Fantastic video 👍 well done guys

@1stformations 3 жыл бұрын

Thank you, Sara. What would you like to see next from us?

@samb3151 3 жыл бұрын

All questions below so helpful - great vid 👍

@1stformations 3 жыл бұрын

Thank you, Sam. We are glad you found this useful. What was your main takeaway from this episode?

@adamthomsett1569 3 жыл бұрын

Summarised really well - nice production

@1stformations 3 жыл бұрын

Thank you for your kind feedback, Adam, we are glad this helped. Did you know much about the articles of association before watching this?

@rakheepatel9815 3 жыл бұрын

Great video, thanks again!

@1stformations 3 жыл бұрын

Thanks for your kind comment, Rakhee! Are there any other topics you would like us to cover?

@ninawaller615 Жыл бұрын

Fab explaination!

@graemedonnelly2039 3 жыл бұрын

The articles of association must be the most important unread document on the planet (apart from Apple's T&Cs). So this short video is ideal for all those who have never opened their articles (like me!). Great presentation by Nicholas - as usual. Quick question: Are 1st Formations able to make changes to a company's articles, and if so what is the cost?

@1stformations 3 жыл бұрын

Hi Graeme, thank you for your comment. We totally agree, so many people do not understand the importance of their company articles, hence this weeks' episode. 1st Formations are indeed able to help file for the adoption of new articles at Companies House. Prices start from £60+ VAT depending on the amendments required. Were you thinking to change your company articles? If so, please feel free to give our Company Secretarial Team a call on 020 3897 2233 and they will be happy to give you more information on what you require.

@graemedonnelly2039 3 жыл бұрын

@@1stformations Thank you for your kind response. That is good to know you are able to carry out this service. I do not have any plans to amend my articles right at the moment, but will be sure to get in touch when I am ready. Thank you again 1st Formations!

@1stformations 3 жыл бұрын

@@graemedonnelly2039 That is great Graeme. Do be sure to get in touch, we are always available and on hand to help our wonderful clients!

@ChuggyandMe 2 жыл бұрын

Very helpful, thank you 🙏🏼

@1stformations 2 жыл бұрын

You're so welcome!

@abbieoneill9133 3 жыл бұрын

Very helpful, thank you!

@1stformations 3 жыл бұрын

Thanks for your comment - did you learn anything new from this video?

@benmarsay-smith1551 3 жыл бұрын

Very helpful!

@1stformations 3 жыл бұрын

We are glad to hear this, Ben. What were your main takeaways from the video?

@munyanezagodfrey513 2 жыл бұрын

Hello, Thanks for the explanations, hopefully in future you will get time & show us how both the Articles & Memorandum of Association are prepared. Like from zero to the conclusions! Thanks

@1stformations 2 жыл бұрын

Thanks for the suggestion, that's a great idea! We'll add it to our list. Are you currently operating as a limited company?

@munyanezagodfrey513 2 жыл бұрын

@@1stformations , Opening soon as a limited company but searched everywhere to get an idea of how Memorandum & 'Articles of Association' are prepared, only to find none on KZfaq. If you can make both available, it's a big deal, please 🙏🏿 Thanks

@1stformations 2 жыл бұрын

Hi! When forming a limited company, the memorandum and articles of association are automatically drawn up for you. You are welcome to make certain ammendments but this can complicate the process. Have you seen our company formation packages? www.1stformations.co.uk/compare-packages/

@taylorsimpson6117 3 жыл бұрын

This is a helpful video, very well explained

@1stformations 3 жыл бұрын

Thanks for your comment, Taylor. Did you find out anything you new about articles of association

@johncarpenter8651 3 жыл бұрын

Thanks for the video. Good to know that I need articles of association at all times. Am I allowed to have articles which are contrary to what is written in UK company law if I want?

@1stformations 3 жыл бұрын

We are glad you enjoyed this week's episode, John. To answer your question, in general terms, you typically can't override the provisions explicitly set out by the Companies Act. However, there are some provisions that can be removed if the company desires. For example, it is possible to disapply the statutory pre-emption rights provided by the Companies Act 2006 under section 561. Do you currently have your own limited company?

@darkdancer1983 3 жыл бұрын

Very useful information, thank you for sharing your knowledge!

@1stformations 3 жыл бұрын

Thank you for your feedback, Peter. Do you have any requests for future videos?

@darkdancer1983 3 жыл бұрын

@@1stformations the more the merrier, love the content

@1stformations 3 жыл бұрын

@@darkdancer1983 Thank you, Peter! Our new video comes out tomorrow. Be sure to have your post notifications on to be updated on when the video is released.

@mileshogg4918 3 жыл бұрын

Thank you for another useful video. Quick question: If I was to create my company through your website, do I have to supply my own articles, or is this something you can provide?

@1stformations 3 жыл бұрын

Hello Miles. Thank you for your question, it is a great one! Our packages come with our model articles, so you do not have to worry about having your own! We do the work for you. Were you thinking to start a limited company?

@PriscilaDexheimer 3 жыл бұрын

Great video! In case I decide to make changes to the Articles of Association, how long does this usually take to be reflected at Companies House?

@1stformations 3 жыл бұрын

Hi Priscila. Thank you for your feedback. It can take around 2-3 weeks for your new articles to be drawn up and reflected at Companies House. What topics would you like us to cover in future episodes?

@keziahcowan648 3 жыл бұрын

Great video! Thank you for distinguishing between memorandum of association and articles of association - do 1st Formations provide both?

@1stformations 3 жыл бұрын

Hi Keziah, we are glad you enjoyed it! Yes, we do provide both the memorandum and articles of association within our formation packages. Are you thinking of starting a company?

@sabakebede6056 2 жыл бұрын

Very useful!!

@1stformations 2 жыл бұрын

Thank you for your feedback, have you got any questions for us?

@Iliketrainsbrooooom 3 жыл бұрын

I have a question, can you amend the articles if you are thinking of moving to a PLC?

@1stformations 3 жыл бұрын

Hi Tommaso, thank you for your question. Yes, you can amend the articles to convert your private limited company to a PLC. In this situation, the adoption of a new set of articles set up for PLCs is undertaken. Is there anything else you would like to find out today?

@CricBestperformance 3 жыл бұрын

Dear sir my company name is Humaid distribution limited. I am trying to find Articles of Association but i m not able to find it. Could you please help me how to download sir. I m desperately waiting for it. Thanks

@1stformations 3 жыл бұрын

Hi there! Thank you for your message. We have checked our records and your company was not registered through us, therefore, we will not have a record of your documents. Feel free to ask your Company Formation agent or an Accountant for a copy of those or alternatively you can find the information on the Companies House BETA site. Simply follow the below link, search your company name and then go to Filing history to view the initial incorporation document which you can save. find-and-update.company-information.service.gov.uk/company/12505463/filing-history If you have other queries then please do not hesitate to direct them to us by email to info@1stformations.co.uk - Thanks! 1st Formations Team

@JuvelonDaan 2 ай бұрын

Articles of association is the same we called By Laws?

@1stformations Ай бұрын

Thank you for your comment. Articles of Association are written rules about running a company agreed by the shareholders or guarantors, directors and the company secretary. However, byelaws are laws of local or limited application made by local councils or other bodies, in specific areas using powers granted by the relevant Acts of Parliament.

@MrKm1066 Жыл бұрын

What is the difference for AA for a freehold company which has six apartments within a building.

@1stformations Жыл бұрын

Is it a property management company?

@MrKm1066 Жыл бұрын

@@1stformations yes, with six directors which have a equal shares: one direct has just resigned because the LTD company in non functional & refuse to have AGM meetings for the last four years!!

@coachedo1728 Жыл бұрын

I've formed a limited company by guarantee with no share capital and did not upload an Articles of Association. I have significant control, and would now like to upload an AOA stipulating our non profit status. What do I need to do?

@1stformations Жыл бұрын

If you did not upload articles at the time of incorporation then you will automatically have the Model Articles or the standard articles of the company formation agent that set up your company. In most cases, a company can adopt new articles at any time during the lifetime of the company. To adopt new articles, your company would need to send their new articles along with a signed resolution of the members to Companies House. Do you require assistance with drafting such articles?

@coachedo1728 Жыл бұрын

@@1stformations Thanks. Do I still need to do the resolution If I have significant (75%) control?

@1stformations Жыл бұрын

@@coachedo1728 Yes, the resolution would still be necessary. Would you like some assistance in doing this?

@coachedo1728 Жыл бұрын

@@1stformations I will email you.

@1stformations Жыл бұрын

@@coachedo1728 Great thanks