Company Records

Good Company Record Keeping

Primary Eyecare Companies need to maintain accurate and thorough records of their activities as part of their governance programme. Good records underpin all company activities. 

Records about the company must be kept, including details of:

  • Company secretaries if any (it is not a requirement of Companies Act 2006 for companies to have company secretaries)
  • Statutory registers including register of directors and register of members The company’s registered address is LOCSU’s office: 2 Woodbridge Street, London EC1R 0DG
  • Promises for the company to repay loans at a specific date in the future (‘debentures’) and whom they must be paid back to
  • Promises the company makes for payments if something goes wrong and it is the company’s fault (‘indemnities’)
  • Loans or mortgages secured against the company’s assets

Companies House must be informed if the company keep records somewhere other than the company’s registered office address.

Confirmation statement (annual return)

Companies need to check that the information Companies House has about the company is correct every year. This is called a confirmation statement (previously an annual return). It can be sent to Companies House online or by post. The filing fee is £40 if done on paper and £13 if done by electronic filing.

Companies need to check the following:

Reporting changes

Companies can report changes to their statement of capital, shareholder information and SIC codes at the same time.

Companies can’t use the confirmation statement to report changes to their company’s officers, registered office address or the address where it keeps records – file those changes separately.

Deadline

The due date is usually a year after either:

  • The date the company was incorporated
  • The date the company filed the last annual return or confirmation statement

Companies can be fined and the company may be struck off if the confirmation statement is not sent.

Company changes

The company must report certain changes to Companies House.

The company must tell HMRC if:

  • Business contact details change – for example, name, business name or personal or trading address
  • The company appoints an accountant or tax advisor.

The company must tell Companies House via LOCSU within 14 days if it makes changes to:

  • Directors or their personal details like their address
  • Company secretaries (appointing a new one or ending an existing one’s appointment)
  • The address where the company keeps its records, and which records are kept there

Changes that the company member (LOCSU) must approve

  • Change of the company name
  • Removing a director
  • Changing the company’s articles of association

The new company name won’t take effect until it’s registered by Companies House – they will tell the company when this happens.

Annual Report

Although this is not required for a small company it can be good practice to produce an annual report. Annual reports are intended to give members and other people information about the company’s activities. Typical annual reports will include:

  • Introduction from the Chair
  • Business profile – a brief description of the company including its operations, market it is competing in and risk factors for the business. Major changes made in the past year are also highlighted and any special operating cost
  • Management’s analysis – Looking back at the past year and looking at the company’s operations in detail. Plans for the company’s future growth are also included
  • Listing of the company’s directors and executive officers
  • Letter from the auditor
  • Statements of income, financial position and any notes to the statements

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PEC Training

LOCSU provides training and support for members of Primary Eyecare Companies (PECs).