Hi,
You would need minutes, special resolution, solvency statement and CH forms and yes you can move the share premium to the P&L.
You do not need to touch the redemption reserve, if you have a separate CRR you can also reduce that to P&L, and also any unwanted paid up share capital
We can take of this for you for £160 plus vat plus £10 duty fee. [email protected] (fcls.co.uk)
You can form the company with two subscriber shares and then either double up the shares so the percentages remain the same so they end up with 2 each in the holding company, or you can form the company with one subscriber share or two unpaid shares and pay up the shares as part of the share for share exchange - either way works.
You will need an ordinary resolution to reclassify the preference shares as B ordinary shares and adopt new articles updating the rights of the class shares along with SH08 form and possible SH10
We (First Corporate Law Services) can arrange for £165 plus vat if you need any help.
The company would need to do a reduction of capital via the solvency statement route, you cannot lodge a confirmation statement to change things, so you would need minutes, resolutions and form SH19 to cancel unpaid share capital as I assume they have not paid, this can also reduce nominal values down at the same time
We do a lot of these sadly as mistakes are quite frequent when clients form companies through Companies house direct
Depending on the Articles, you could allot one new ordinary share so you would then obviously have two shares in issue - one ordinary & one preference.
An alternative is to pass a ordinary resolution to re-classify the preference share as an ordinary share, along with a CH form SH08, and possible SH10 depending on the rights of the preference share.
My answers
Hi,
You may find this article useful.
https://www.fcls.co.uk/reduction-share-capital-need-know/
We'd also be happy to help out with the paperwork. The cost will be £170 + vat.
Cheers
Adrian
Hi,
You would need minutes, special resolution, solvency statement and CH forms and yes you can move the share premium to the P&L.
You do not need to touch the redemption reserve, if you have a separate CRR you can also reduce that to P&L, and also any unwanted paid up share capital
We can take of this for you for £160 plus vat plus £10 duty fee. [email protected] (fcls.co.uk)
You can form the company with two subscriber shares and then either double up the shares so the percentages remain the same so they end up with 2 each in the holding company, or you can form the company with one subscriber share or two unpaid shares and pay up the shares as part of the share for share exchange - either way works.
Let us know if we can help - https://www.fcls.co.uk/share-for-share-exchange/
You will need an ordinary resolution to reclassify the preference shares as B ordinary shares and adopt new articles updating the rights of the class shares along with SH08 form and possible SH10
We (First Corporate Law Services) can arrange for £165 plus vat if you need any help.
Hi,
Would this be his companies registered office address?
Adrian
It's not worth it, but for future reference...
https://www.fcls.co.uk/corporate-law/company-restorations/
Thankfully not!
Somebody please back me up :-(
This should help:-
https://www.fcls.co.uk/share-restructures-requirements-pitfalls/
The company would need to do a reduction of capital via the solvency statement route, you cannot lodge a confirmation statement to change things, so you would need minutes, resolutions and form SH19 to cancel unpaid share capital as I assume they have not paid, this can also reduce nominal values down at the same time
We do a lot of these sadly as mistakes are quite frequent when clients form companies through Companies house direct
Happy to help
Depending on the Articles, you could allot one new ordinary share so you would then obviously have two shares in issue - one ordinary & one preference.
An alternative is to pass a ordinary resolution to re-classify the preference share as an ordinary share, along with a CH form SH08, and possible SH10 depending on the rights of the preference share.
We can help prepare a full pack for £135.00 + vat
https://www.fcls.co.uk/corporate-law/full-corporate-law-price-list/
Adrian