Beta Companies' House: How to Use Companies House Services the Ultimate Guide

Navigating the intricacies of company registration and management can be a daunting task for entrepreneurs and business owners alike. Fortunately, Companies House, often referred to as the "Beta Companies' House," provides a wealth of resources and services to streamline this process.

Whether you're incorporating a new business, filing annual returns, or researching companies for due diligence purposes, Companies House offers essential tools and information to support your endeavors. In this post, we look into the various services offered by Companies House, equipping you with the knowledge and insights needed to effectively utilize its resources. Let's get started.

What is Beta Companies House

Beta Companies House is an organization the UK government runs to check business data online of the companies registered under its jurisdiction. It is a platform that makes the UK corporate sector transparent, as you can search for details of any private company in the United Kingdom for free. The Companies House beta was launched in 2015, but after four years, it was rebranded to Companies House Services (CHS). However, its URL still reads as https://beta.companieshouse.gov.uk/.

Which Data Appears on Beta Companies' House

The beta companies house operates under the department's umbrella for business energy and industrial strategy. Every company must file the following information to companies house search service available to the public. Here is the information you will find in the company profile in detail.

SIC Codes

SIC code is a code that directors choose to clarify the nature of their company. There are more than 600 codes to choose from. One is usually enough, but entities can choose up to four. Although the codes are vital in business descriptions, they have limitations. Despite covering a wide range of businesses, some of these codes are old and revised occasionally. For instance, in 1948, the classification was first revised in 1958, then these years followed

• 1968
• 1980
• 1992
• 1997
• 2003

With the change of technology since the 21st century, you will still find some no longer usable codes, like videotapes and disk rental (77220), and are still covered. On the other hand, businesses such as blockchain, artificial intelligence, fintech, etc, are not yet covered. The tech-related categories are under a massive umbrella, such as:

• Web portals (63120)
• Information technology services activities (62090)
• Business and domestic software development (62012)

Furthermore, some SIC codes don't refer to business sectors but describe the company's status, for instance.

• Dormant (99999)
• Non trading (74990)

Company Incorporation

In the incorporation data, you will find information on when the business was registered with the Companies House. This data is vital to know how old the company is and compare it with companies of similar age. However, this date doesn't mean it's the date the company started trading. Some company owners may reserve the business name for a while before trading.

Company Status

The Companies House indicates a business's legal status, but not its trading status. There are several company statuses, but we will cover the most common:

• Active: once a company is incorporated and added to the Companies House register, it is marked as active. So, even when the company is dormant, it will still be marked as active.
• Administration: if a company can't pay its debt, it may file for administration, which protects it from creditors. It appoints a licensed insolvency practitioner who controls the business and its assets and prevents it from entering the liquidation process. If not possible, the administrators use company assets to cover the debt.
• Dissolution: this is when a company is no longer a legal entity.
• Liquidation: this is a phase when the company stops its operation and is not hiring employees. Its assets are used to pay its debts, and the remaining money is divided among shareholders.

Registered Address

This is the official address where business letters are delivered. The business's official location is mainly where the accountant's office is located or the director's address. To find more information about the company address, check their company website.

Company Filing History

If you navigate the company filing history tab, you will see the business filing in an order such as

• Date of filing
• Description
• Download the PDF link for free

With the download option, you can easily download and review the information about a business, its financial performance, and its directors. Unfortunately, these data are stored as PDF images, which is challenging to sift them through.

The filings don't have a standard template, and each will look different. This makes it difficult to scan through documents or compare them side by side.

Annual Accounts

The companies must also prepare financial records and provide account notes, profit and loss statements, and balance sheets, to the Companies House. However, companies of different sizes have different requirements. Here are the types of company annual accounts

• Large company accounts
• Small company accounts
• Medium-sized company accounts
• Micro-entity accounts
• Dormant company accounts

Small and micro entities companies submit short version accounts with less detailed balance sheets. The company under the small company category must meet two of these conditions

• A £10.2 million turnover or less
• £5.1 million on balance sheet or less
• 50 or fewer employees

To submit under micro company accounts, the business must meet two of these conditions to submit

• A £632,000 turnover or less
• £316,000 on balance sheet or less
• Ten or fewer employees

When is a Company Supposed to File its Annual Account?

A company receives an accounting reference (ARD) date during incorporation, which also marks the end of its accounting period. The date is usually the last day and month of the company's incorporation. For instance, if the company was incorporated on 7th March 2023, its ARD will be 31st March 2024. However, private limited companies must file accounts within nine months of a given date, or they can face penalties.

Confirmation Statement (Form CS01)

This should be submitted yearly with information about company directors, registered office share capital, and shareholders. The information ensures the public register is accurate and up to date. The form CS01 replaced the annual return form in June 2016.

Event-based Filings

Companies must also report any updates or changes in events, such as:

• Company name (CERTNM) change
• Registered office address (AD01) change
• Termination of the appointment (TM01) or newly appointing (AP01) of a director
• Change of details like secretary (CH03), director (CH01), or a person with significant control (PSC04)
• Allotment of new shares (SH01)
• Second filing of an already delivered document (RP04)
• Reorganization of the various companies' share capital
• Company article of association (MA) updates

Remember, companies that don't adhere to the filing requirements between 14–30 days since the event can face.

• Possible dissolution
• Penalties
• Fines

How do I Remove Information from the Company's House?

Ask the Companies House to remove the information like your address, although at a fee. It will cost you £55 to remove the information from each document, which might be more than a dozen per year. If you're attacked because of your work, you can ask Companies House to withhold your address out of credit reference agencies. This will cost you £100.

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Frequently Asked Questions

How do I get data from Companies House?

You can download the company data from Companies House for free. It consists of the company's basic data.

Does Companies House have an API?

Yes, the Companies House has the API. This lets you retrieve information about limited companies under the Companies Act 2006. The data is easy to understand since it's provided in real-time.

Can you submit accounts to Companies House?

To submit an account in Companies House, you need a password and a Companies House authentication code. If you own a private limited company that doesn't require an auditor, you may use company accounts and tax online service to file your HMRC and Companies House accounts tax return together.

How do I get a copy of company accounts?

If the annual report is unavailable on the company's site, contact the company directly and request a copy. You can request the investor relations department through email or by calling using the contacts given on the company's website.

Conclusion

The Companies House beta, now Companies House Services (CHS), serves as a comprehensive storehouse for UK company data. Offering various insights, it's a vital resource for the public to understand business landscapes. However, the system's rigidity in data presentation poses challenges in analysis. Timely compliance with filing requirements is crucial, and individuals can request specific information removal at a cost. Do you want help in filing these Companies House requirements? Reach us today at IncorpUK for professional help