Property Companies

We provide company incorporation and outsourced corporate secretarial and accounting solutions to residential property companies of all sizes, our largest freehold collective enfranchisement client is a converted hospital containing 225 apartments, and our smallest is a maisonette with two leaseholders.  1,500 leaseholders in the UK trust Virtual Company Secretary to act as their Company Secretary.

Please contact us to discuss how we can assist you on 0330 128 1586.

 

Company Incorporation Services

Virtual Company Secretary Limited is listed on the Companies House list of approved company formation agents.

Until a business has been incorporated under the Companies Act 2006, it cannot operate as a Limited Company.  Post incorporation the Directors and Officers are required to file certain documents every year such as the confirmation statement and the annual accounts.  This is in addition to notifying of changes, such as the appointment or resignation of Directors or a change to the Company’s registered office.

Virtual Company Secretary on your behalf can obtain approval from the Registrar of Companies for the use of the proposed name and the setting up of the Company, draft the Memorandum and Articles of Association, in addition to the associated written resolutions of the Directors  and Shareholders to approve the incorporation.  We prepare the Registers of Directors and Officers, Shareholders and Persons of Significant Control; we issue a printed Certificate of Incorporation, Memorandum and Articles of Association and physical Share Certificates; finally, we will deal with the Registrar of Companies for post-incorporation requirements.

It is important to set up your Company correctly to avoid any legal issues or additional changes, and setting up a Company with multiple owners can be complex.

Unlike some other formation companies, we will not pass your details on to any third parties.

Post incorporation we can provide ongoing Company Secretarial support and Registered Office and Directors Service Addresses.

Q – What’s the difference between a Director’s service address and the Company registered office? 

A – The Registered office must be based in England, Scotland, Northern Ireland or Wales. The service address can be the Registered office or any other address globally.

Company Secretarial and accounting Services for Residential Property Companies

We are specialists in freehold companies (companies owning the freehold interest in a property) and Right to Manage (RTM) companies, and the incorporation of Companies Limited by Shares (freehold companies) and Companies Limited by Guarantee (RTM Companies).  The residents usually act as the Company Directors and shareholders. In large properties, it is not normally necessary for every person to be a Director although all residents will normally hold one share.

VCS can assist with the provision of ongoing support to the residents.  We act as Registered Office for the Company, and also provide Directors’ service addresses so that home addresses are not publicly disclosed and easily searchable on the internet.  We prepare and file financial accounts, prepare and file annual confirmation statements, comply with legal requirements on the sale of a property, arrange to transfer the shares, draft indemnities required, draft Deeds of Covenant and provide Certificates of Compliance for the Land Registry.

1,500 leaseholders in the UK trust Virtual Company Secretary to act as their Company Secretary. Our largest freehold collective enfranchisement client is a converted hospital containing 225 apartments, and our smallest is a maisonette with two leaseholders.

We cannot stress enough the importance that Directors ensure they are in compliance with the Companies Act, that the correct fillings are made at Companies House and with HMRC, and that all documentation be properly dealt with at the time of a property transfer.

To provide the following services on an annual basis:

  • Provision of Registered Office & Directors Service Addresses;
  • Act as Company Secretary;
  • Prepare & file the annual confirmation Statement with the Registrar of Companies;
  • Prepare & file the annual statutory accounts with the Registrar of Companies & HMRC;
  • Process all applications from new lessees to become shareholders;
  • Hold the Registers of Directors, Shareholders and Persons of Significant Control;
  • Advice on compliance with the Companies Act.

Further to the above, we are able to offer ad hoc Company Secretarial services; examples include:

  • Resignations and appointments of Directors;
  • Redrafting of the Articles of Association and filing with the Registrar of Companies;
  • Issuing additional shares;
  • Drafting resolutions and minutes or attending meetings of the Directors or Shareholders;
  • Checking eligibility & producing share certificates for all Shareholders;
  • Company Health Check; review of the documents & public filings of the Company.

Company SecretARIAL AND INCORPORATION SERVICES for Block Managers

Why outsource your Company Secretary and statutory accounting function?

Some of the biggest issues facing block managers are:

  • Low management fees leading to low profit margins;
  • An increasing amount of time being spent on compliance and administration tasks which are not valued by leaseholders;
  • High fees charged by legal and accounting firms.

Key benefits of outsourcing to VCS:

  • Time saved to focus on core areas of property management;
  • Economies of scale and increased flexibility to cope with periods of high and low demand;
  • No overheads;
  • Transfer risk for guaranteed compliance, customer satisfaction and high-quality fast service from specialists.
Manage in House Use of a Lawyer / Accountant VCS
Employee overhead costs High Fees

On average fees are 50% less than other professional service providers

Unable to focus on core competence, reduced employee utilisation

Tasks may be delegated to junior employees Qualified Company Secretaries and Accountants who have specialist expertise in Freehold and RTM companies

Too many conflicting priorities

Heavy workloads

Faster response times, you gain the benefit of economies of scale and time for your employees to focus on key issues

Risk of non-compliance and customer dissatisfaction

Risk of partial compliance

Guaranteed full compliance and customer satisfaction

Not able to keep up to date with legislative changes

Reactive notifications

Comprehensive and proactive advice on all relevant legislative changes

Virtual Company Secretary Ltd is registered with Companies House, HM Revenue & Customs Anti Money Laundering Regulations, and the Information Commissioners Office.

Our expert team is keen to support our clients who are faced with the constant changes to legislation, are time poor and have conflicting priorities.

Take a look at our Property case studies

Please contact us to discuss how we can assist you