Setting Up A Limited Company

By | 4th July 2017 | Uncategorised | No Comments

Private Limited Companies are governed by the ‘Companies Act 1985’. A Private Limited Company is a legal entity in its own right; separate from those who run it, the shareholders. The limited liability, potential tax advantages and simplicity in running a private limited company make it the most common form of registered business in the UK. As a shareholder, your personal assets remain separate (unless they are secured against the business for borrowing) and your risk is reduced to only the money you have invested in the company and any shares you hold which you have not paid for.

There is no minimum capital requirement for a Private Limited Company. Private Limited Companies are required to have a minimum authorised share capital of GBP1 (or its currency equivalent) and are formed with both authorised and issued share capital. The minimum issued capital is one share but additional capital is usually issued to reflect the stability of the company. Unissued shares can be issued at any time by the directors, subject to prior approval from the shareholders. Shares in a Private Limited Company are transferred by private agreement between the seller and the buyer.

The three main reasons of trading as a limited company are status, tax efficiency and limited liability.

Limited Liability: It is the biggest benefit of running your business as a limited company. In case the company goes in to financial difficulty, the assets and personal finances of shareholders are protected beyond value of their shareholding. This means that if a company is unable to pay debts, the shareholder will only have to contribute according to the nominal value of their shareholding. It can be as small as £ 1.

If you want to provide high value services or supply which can lead to liability claims and/or operate in public domain then limited liability is important. In such situations, your personal finances and assets are protected. Operating as a sole trader does not have this benefit.

Tax efficiency: More opportunity and great flexibility is offered by limited companies in the case of taxation on profits and on personal income. The profits of companies have a rate of 20% Corporation Tax regardless of the size of profit. On the other hand, sole traders pay 40% income tax if their profits are between £31,868 and £150,000; and the rate is 45% for profits above £150,000.

The directors can keep their income level below the higher bands through taking remuneration in combination of dividends and salary. This results in more money being available for reinvestment or distribution among the shareholders and directors. Sole traders don’t have any such strategy to save tax.

Professional Status: A professional and corporate image is created by a limited company, thus boosting the value of business. More corporations and industries like to do business with companies, instead of sole traders. This is because limited companies are considered to be more established, credible and committed. Sense of security is also provided by limited liability to certain industry professions while choosing to use the services of new business or while investing.

Documents required for company formation:

  • In order to register a Private Limited Company the company name must be officially approved by the Registrar of Companies. Once approved the following documents are required:
  • Certified proof of ID for directors / shareholders and beneficial owner
  • Certified proof of address for directors / shareholders and beneficial owner
  • Completed Application Form (supplied by Maple Leaf)

The formation of a Private Limited Company is a very quick process and we can even offer samed day incorporation (once all documents are received and approved),

The following documents will be received upon incorporation:

  • A Certificate of Registration
  • Memorandum and Articles of Association
  • Minutes of the First Meeting of Directors
  • Share Certificates and Company Register

At Maple Leaf we provide a high-level service that will ensure your limited company is set up and registered correctly. Our team of experienced professionals can offer bespoke advice tailored to your needs.. Start your limited company with Maple Leaf and we will hold your hand through the process. www.mapleleaf.global

Ltd Company - Maple Leaf Global

 

Boost Your Startup Business With These 3 Co-Working Tips


When building a business from the ground up, success is a matter of creativity. The challenges as an entrepreneur can push anyone to the limits of their critical and imaginative thinking. Naturally, startups deserve working environments that maximise their flexibility and dynamism.  Co-working space providers like Maple Leaf recognise this need and offer a unique twist to office rental: a communal experience packed with amenities, extra services, and opportunities to interact with other professionals in your area.

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Consider these tips to make the most out of your co-working space:

1. Soak in the Productive Atmosphere

Startups have to contend with a plethora of challenges and tasks in order to thrive. Developing a product is complicated enough without having to consider growing a network, perfecting a brand, and nurturing a corporate culture that keeps all partners and employees passionate about their work. This means that a startup’s nine-to-five is hectic and full of things that need to get done.

One major benefit of shared space is the healthy sense of urgency that’s constantly in the air thanks to the variety of businesses and professionals making use of the communal areas. Startups stand to gain from this culture of focus, and setting up in an environment with a self-propelling vibe of productivity is the ideal direction for new companies to set an efficient pace for their workflow.

There’s also a great value in learning from the innovators, entrepreneurs, and experts who share a space with your business: keep an ear out for tips and best practices, or better yet, strike up conversations with the other professionals in your new office. Odds are, they’re willing to share a valuable insight or two.

2. Take Some Time to Mind Your Business

A good business begins with a unique vision. A great business never loses track of that vision, knowing that thriving in an industry means giving clients and customers a one-of-a-kind experience.

Co-working spaces can assemble scores of different businesses, professionals, and freelancers at a time – each one with a brand that sets them apart from the other. Faced with this diversity, a startup’s own corporate identity gets a chance to shine during the many interactions that can happen in a given day. More chances to share the details of your business means more chances to reflect on what your business means to you, and what it can mean to potential customers and clients.

3. Take a Break

Co-working spaces offer an easy solution to the problem of morale, freeing up time for management to keep its eye on launch or expansion. Many top-rated co-working businesses offer amenities to keep workers’ spirits high. In-house gyms, free-flowing coffee, and even siesta stations are common offerings when turning to co-working sites to house a business. Others go the extra mile and provide for regular social and recreational events like happy hour celebrations and bartending lessons. For the cost of rent, co-working is a great choice for any startup. But for those that know how to maximise their stay, these revolutionary office spaces can mean the difference between success and mediocrity.

Here at Maple Leaf we have succeeded in creating a working environment where our startup clients can thrive.  To discuss your startup plans and how your business may benefit from being part of our thriving co-working community visit www.mapleleaf.global.

 

 

Protecting the Hidden Assets in your Business


Maple Leaf_Drip ManagementHave you heard of DRIP Management?

Data + Reputation + Intellectual Assets + People = D R I P

We are always surprised by the entrepreneurs who have spent years thinking (and talking) about their business idea, only to risk everything by not protecting the intellectual property and business assets they’ve created. How do you identify, understand and protect the hidden assets in your business?

You need to understand where these assets live in the first place. Why? Because they are almost always at risk because they are not properly protected.

Good Risk Management around your Data, Reputation, Intellectual Property and People gives competitive advantage and therefore makes good business sense. In fact, in most cases the most significant asset of a company also represents the greatest risk.

Let’s quantify the cost to your business of not managing your DRIP with a few shocking facts you may not know about.

Data

50% of employees admit to taking corporate data when they leave a job and 40% say they plan to use the data in their new job. Over 50% of departing employees claimed one reason they took employer data was their perception that “everyone else did it when they left.” Other reasons cited include the employees’ sense of ownership around what they helped to create (52%) and their belief that the company cannot trace the theft back to them (49%).

If you’re handling customer data, do you manage and dispose of it properly? Under the Data Protection Act 1998 (DPA), companies are legally bound to ensure that any personal data is correctly disposed of when no longer required. A complaint could be made to the Information Commissioner’s Office and that could result in legal action and a fine anywhere up to £500,000. From January to October last year (2014) alone, a total of just over £1m in fines was levied by the ICO. Every single person in the UK has a legal right to ask at any point what information you hold on them, whether you still hold it and if not, how it was destroyed. Everything from a Post-It note with a name and telephone number to client surveys and customer reports must be disposed of under the DPA.
Here are some of the highest penalties issued by the ICO in 2014:
Loss or theft of unencrypted devices – £150,000
Insecure websites – £10,000
Postal errors – £140,000
Email errors – £140,000
Insecure disposal of both paper & electronic – £325,000
Loss or theft of paper records – £100,000

Reputation

Be mindful how you deal with people on your way to the top. Prospective job candidates are extremely hesitant to join a company or CEO with a bad reputation and among those who may be willing to accept a job offer, a significant pay raise is required.

To leave their current employer and take a job with a company with a bad reputation, Executives would require an average of a 53% pay increase.  93% of people who are currently employed would Read more

Your New Company Name

By | 10th October 2016 | Start-Ups, Strategy | No Comments

Maple Leaf_New Business Name

Here at Maple Leaf Corporate Services we often meet budding entrepreneurs incorporating their company with us and trying to think of a name for their new business. So what is in a name? A lot actually, when it comes to business success.

Your company name will make sure you are remembered and conveys the expertise, value and uniqueness of the product or service you have developed. Some experts believe abstract names are best, others think names should be informative so customers know immediately what your business is. In certain sectors coined names (made-up words) have found their place, the same approach can be considered inappropriate or unprofessional in other sectors. Memorable one word names are common practice in crowded market places where the brand needs to stand out.

In reality, any name can be effective when it’s backed by market research and a solid communications strategy. Here’s what you need to consider for your new business name.

Read more

7 Tips for a More Healthy Workspace

By | 7th April 2016 | Uncategorised | No Comments

Healthy Workspace

Healthy Workspace

  1. Light

We are the screen-dependent generation, from our computers at work to televisions at home and checking our phones before bed – we are never far from a backlit device, and they are terrible for our eyesight. The only way to mitigate against the risk of long-term damage is to ensure that you’re in a well lit environment. Having a desk lamp is not enough; your workspace needs to be lit from all angles to avoid squinting.

  1. Visual Stimulation

Focussing on one thing for a prolonged amount of time is also harmful for your eyes. It is best to ensure you have visual stimulation in your surroundings that will allow your eyes to focus on objects at varying distances to avoid eyestrain. Your eyes are muscles, just like any other, so it is important to ‘exercise’ them. Imagine doing a lunge and staying in that position without moving, you are only exercising one set of muscles in one way and after a while the stretch becomes a strain. It is the same for your eyes. We suggest trying to sit near a window or having artwork around to look at (but not procrastinate on!).

  1. Audio Stimulation

People work differently; some prefer absolute silence whilst others find they are more productive with a bit of background noise. Whether it’s the radio or just the humdrum of the world outside, studies have shown that a small amount of noise regularly throughout the working day is beneficial. Have you ever been awake at 3am and its been so silent that you hear a beeping / buzzing noise – that is your senses working overtime. It’s a quirk of our evolution that we’re programmed to be alert for any potential dangers so if you do prefer the library silence, make sure you break up the hours at your desk with a bit of music or be good and give your mum a call!

  1. Fresh Air

The air we breathe is getting less and less pure, fact. Especially for London commuters like us the need for cleaner air has never been more apparent. But most people aren’t aware that the air in our offices is almost as unhealthy and the air on the tube. We breathe out C02 and over the course of the day this builds up and, amongst other things, makes you sleepy. So, keep your productivity high and health boosted by throwing open the windows and getting a breeze running through the office to clear the air and keep you refreshed (and for all those who are perpetually cold – put a jumper on!).

  1. Healthy Snacks

Food gives you energy, and as we all know there are good sources of food and bad. Snacking is a workplace necessity – it alleviates boredom and is a great motivator so keep your office healthy by swapping out the biscuits. At Maple HQ we have (nearly) ditched the custard creams for a fruit bowl – but there is a sneaky packet in the cupboard for emergencies. Healthy snacks are the way forward and personal favourites in the office include dates, grapes and cashew nuts – all delicious and not so uber healthy that you crinkle your nose at the thought of them.

  1. Water

Got a headache? – drink water, tired? – drink water, bored? – drink water. It is a well known fact that no one drinks enough water so use it as your procrastination. We are supposed to drink 2 litres per day so build it into your new healthy office regime. Ditch the diet coke for good old tap water and you’ll see the benefits.

  1. Fun

Finally, and most importantly, make sure your day is peppered with human interaction. We are social animals and as such our ‘healthy’ is as much about our mental well being as it is our physical health. Working in isolation can be necessary at times but can lead to loneliness. So, take 5 minutes to ask someone in your office if they got up to anything fun over the weekend or could recommend a good programme on Netflix. Chatting to a co-worker, even for a short amount of time releases serotonin (the neurotransmitter responsible for mood balance) a deficit of which is linked to depression. Who knows, you might find out that the people you work with are actually quite fun!