Companies House is a large Executive Agency that is part of the Department of Trade. They work closely with them to draft new companies proposals and legislations. Companies House aim to satisfy customer needs and regulatory obligations with economical, efficient and quality services. With records of 1.7 million live and 2.6 million dissolved companies on their database, Companies House aim to become one of the best public sector organisations for customers to deal with.
Companies House Locations
Companies House have three main locations within the UK. They have headquarters in Cardiff and an office in London. There is also a registrar for Scotland in Edinburgh.
Achievements of Companies House
Over the past year, Companies House have had many key achievements as a registrar and provider of information on Limited companies within the UK:
- Even though the workload of Companies House have increased by 9%, they have still managed to achieve nine out of twelve targets.
- They have achieved 96% accuracy in data capture.
- 98% of complaints received at Companies House are resolved within five working days.
- Incorporations have increased by 40%
- Electronic incorporations have increased to to 60% of the total
Due to the fall in demand, Companies House have also made a successful migration from micofiche. Companies House now store all recent documents as electronically scanned images, microfiche records will now only archive those documents filed up to the end of December 2002.
The Role of Companies House
Companies House has two main functions:
- Companies house incorporate, re-register and strike-off companies.
- They then provide this company information to the public.
To carry out the former role, Companies House provides and registers documents which companies are required to file away with them. These documents are called Companies House Documents and there are many different types, those that deal with incorporation, appointment of directors and secretaries right through to bankruptcy and insolvency.
Other documents are also required to be filed at Companies House at regular intervals - these include Annual Accounts and Annual Returns. Companies House require all documents to be received within a set time period of the change with penalties against the company if they are late.
Companies House also exists to enforce companies' compliance with statutory requirements.
As to their latter role, Companies House provide their information in a variety of different formats, from raw financial data to scanned document images to the public. They will also supply the data to credit report companies for analysis and credit scoring.
Source - www.companieshouse.gov.uk
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