Corporate Update - April 2008
From 6 April 2008 a further raft of provisions under the Companies Act 2006 become effective:
- The delivery time for accounts is reduced from 10 to 9 months for private companies and from 7 to 6 months for public companies.
- The company secretary becomes optional for private companies (but not public companies)
- Public limited companies to establish whether they are maintaining the minimum share capital in sterling or euros; with the minimum authorized share capital being £50,000 or €70,000.
- For accounting periods starting on or after 6 April 2008, auditors reports shall state (i) in the case of an individual the name of the auditor who shall sign and date the report (ii) in the case of a firm the name of the senior statutory auditor, the name of the firm with the report signed and dated in the name of the statutory auditor.
Please contact us on 020 7420 7020 or enquiry@sethlovis.co.uk for further advice.