Number of Shares

[Spoiler]

Forgot to add - we're meeting with another accountant next week, so I now have a few more questions to ask them and hopefully their incorporation fee will be somewhat more reasonable.

Thanks.

[TheCyclingProgrammer]

Surely it can be incorporated with any number deemed suitable and only 100 issued ?

The remaining shares being alloted as options or whatever at some future date with the appropriates adjustments then madeto the share premium accounts.

Pretty sure that as of the Companies Act 2006, there is no longer the concept of "authorized capital". There is simply issued capital. Previously the authorized capital would represent the maximum number of shares you can issue without having to faff around with amending your company articles etc.

These days, you simply issue your shares when you form your company and if you want to issue more later, you just need to submit the right form (SH01 I think) to Companies House and update your company records.

I found this all out recently myself, my company having been incorporated at the beginning of 2009 under the old act, meaning I only have 100 authorized shares, all of which had been issued to myself. When it came to wanting to issue new shares to my partner (which would have been preferable to a transfer IMO), it would have been a complete pain as I would have had to update my company articles and various other things I can't remember in order to remove the authorized capital limit. In the end I just did a transfer.