Under the Companies Act 2006 the following is required to be kept by every company that is registered in the UK:

• A register of directors and the company secretary – Although private companies need not have a company secretary, the company must keep a register of its secretaries if it appoints one. These registers must be kept at the registered office of the company. The company must also keep a separate register of its directors’ residential addresses which are not available for public inspection.
• Copies of all directors’ service contracts or memoranda of terms. These should be kept at the company’s registered office.
• Register of members. This may be kept at the company’s registered office.

The contents of the register of members needs to include an entry for each member of the company showing:

• The member’s name and address.
• The date on which the member was registered as a member.
• The date on which the member ceased to be a member.

Where the company has a share capital:

• the number and class of shares held by the member (and, if the shares are numbered, their distinguishing numbers); and
• the amount paid or agreed to be considered as paid on the member’s shares.

Register of charges

There is no requirement for a company to keep a register of charges created on or after 6 April 2013. However, a company was under an obligation to keep a register of charges created before 6 April 2013 and this requirement continues to apply to charges created before 6 April 2013. This must be kept at the registered office of the company.

• Register of debenture holders.
• Records of resolutions and shareholder meetings.
• If applicable, a register of persons with significant control.

What are the sanctions/penalties for not keeping accurate records for your company?

The following sanctions and penalties can be given if records are not kept or inaccurate records are kept:

•  If you do not keep accounting records for your company then HMRC can charge up to £3,000 per tax year for failure to keep records or keeping inadequate records.
• A director may also be disqualified for unfit conduct, which includes not keeping proper company accounting records.
• A director of the company, who was a director at the time of the records being inaccurate or not kept, can also be fined individually for their conduct and then daily if the contravention continues.

For more information about the company record keeping requirements in the UK, please contact one of our team.