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Welcome to the final UK Business Club Newsletter of 2009. We would like to take
this opportunity to wish everyone a happy Christmas break and good business in
2010.
Best regards
Martin Williams
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Firstly Suzie Hall and Mary Abrahams have joined the accounting services team
providing bookkeeping, accounting and monthly reports to our clients.
Dawn Walker has joined us to help take care of the increasing payroll workload.
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Sales Aid Leasing
EBS clients who are selling what the English call Capital goods, that is
relatively expensive pieces of equipment, are finding that the pressures on
cash flow for their customer
We always take these difficulties seriously and try to find a solution. In this
case we have identified Public Sector Finance Ltd (PSF) as an organisation
which can help by providing Sales Aid Finance to EBS clients.
Sales Aid Finance is an invaluable tool for anyone selling capital equipment to
business.
PSF offer fully managed arrangements where they take care of the finance,
leaving you free to sell your equipment.
Sales Aid Finance is an essential tool for anyone selling capital equipment into
the commercial sector. By partnering with a reputable finance provider you can
improve your cash flow, provide yourself with several financing possibilities
and ensure that you remain ahead of the competition.
As a licensed credit broker, PSF is able to offer fully hands-on finance
support, from marketing through quotation to the underwriting process and
completion of documentation, ensuring prompt payment to you. This enables you
to benefit from the Sales aid scheme whilst concentrating on what you know best
– your product – without getting diverted by technical and administrative issues.
The directors and staff of PSF have several decades’ experience in the sector and have supported schemes for all types of equipment
costing from GBP4,000 to over GBP500,000. Obviously in the current climate where finance is harder to come by, our many
contacts and one-to-one approach will greatly enhance the chances of getting
the right deal for your customer.
Please write to PSF by email mail@psfportal.com or your usual contact at EBS.
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Changes to Company Administration Law
On 1st October 2009 the company administration procedures and laws were changed
in the UK, partly to make the establishment and management of a company easier,
and partly to recognise and regularise simplifications which had effectively
been going on for a number of years.
The number of changes is many and complex, but many of these will not be
affecting the readers of this newsletter. The main items to consider are: -
Authorised Capital
Most companies have only Ordinary Shares in issue, and the new regulations mean
that it is no longer necessary to set a maximum limit on the number of shares
to be issued by the company. Things are more complex if different classes of
shares are required and we will of course be happy to give advice in this area.
The necessity to hold an Annual General Meeting has been removed, recognising
the fact that this was almost always taken care of in paper form only in any
event, and for
Reducing the Share Capital in issue in a company has been made considerably
easier as the expensive requirement of getting a Court Order has been removed.
Home addresses of the Company Directors
It is now possible to, on the public record at least, show the service Address
of any Company Directors as the company’s Registered Office, although the real home address of the Directors must be
declared to the Registrar of Companies and will be available to the statutory
authorities and recognised credit reference agencies. The credit reference
agencies will not however be allowed to disclose this information to their
clients and can only use if for their own internal purposes in order to
establish the credit worthiness of a company and its directors.
It is now possible to change the addresses on the public register for directors
of companies which were formed before October 2009, and this EBS will be happy
to do for its clients without charge.
However, it must be remembered that the previous home addresses which were
available to the public will still be able to be found as they are on the
publicly accessible part of the register when searching documents which have
been previously filed.
Companies as directors of other companies
Whilst it is still acceptable for one company to be a director of a UK company,
every UK Company must have at least one director who is a “real person”. We will be writing separately to any of our clients who are affected by this
change.
Period to file accounts
The period allowed for the filing of accounts has been reduced by one month to 9
months after the book closing date for private companies, and 6 months after
the book closing date for public companies. This change applies to all book
closing dates on or after 6th April 2008.
New Companies House forms
With effect from 1st October 2009 all the Companies House forms have changed.
The new forms must be used in respect of all changes which are effective on or
after 1st October 2009.
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During October and November seven Bridge to Growth seminars have been held
across the Nordic region and in Germany. These have again proved exceptionally
popular with approximately 350 companies attending these information seminars
with a view to visiting the West Midlands region.
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