Share reduction

mc25

Hi,

Has anyone ever dealt with reducing the shares at companies house. Company formed recently but showing shareholder holding 1000 shares, need to reduce this to 1 share. Or can you recommend any organisation who can sort this out at a very reasonable rate.

Thanks

bumblebee

Hi
I havent done this myself personally, but i think you will need to complete one of these forms from Companies house website, form SH06


http://www.companieshouse.gov.uk/forms/formsContinuation.shtml#SH06

deanshepherd

I did one recently and it seemed to go through without a hitch. You do need to knock up a bit of additional paperwork (resolution, statement of capital, minutes..).

Although I believe that just because an individual has subscribed for shares when the company was formed, it does not necessarily follow that all the shares were issued. You could just declare on the first annual return to show that only 1 (or however many you prefer) was actually issued. Don't quote me on the above but I did get it from a (fairly) reliable source.

mc25

Thanks

Dean,
Thanks for your reply. I am stil trying to sort this out, what you have said somebody else mentioned that about declaring in the return, but not sure how to go about that. I rang companies house as well and they told me I have to submit insolvency statement, share capital statement,minutes etc... + submit with a £10 fee for standard.

Let hope i will get a solution soon. To add onto to this i did get a company which could do it but they were charging 120+vat which i thought was a bit high for sorting this out while there are other options out there.

Thanks once again.

bumblebee

Came across this, thought might be useful:

http://www.chiene.co.uk/GetFile.aspx?file_id=162