1st Formations
Company formation is not a popular subject in the industry but it is one that every company today has had to deal with sometime in the past. It is the process of registering or incorporating a business as a limited company. The registered business then becomes a legal entity and can be regarded as an individual in the eyes of the law. This means that the company is now separated from its founder or owner and as a result, is responsible for its liabilities, finances, contractual agreements, and ownership of assets & property. The law does not recognise unregistered businesses (e.g. sole trader) as legal entities. There are four steps or guidelines when it comes to registering a company - Promotion of a Company, Registration of a Country, Certificate of Incorporation and lastly Certificate of Commencement of Business. The most important step is the promotion part while the registration part is the most difficult and exhausting step. You can reduce the registration hassle by hiring the services of a formation company to get it done for you. It takes less than 24 hours or thereabout for these companies to complete all four steps of company formation. One of the many formation companies in the UK is 1st Formations. But are they worth considering giving a try? let’s find out.
About 1st Formations
1st Formations is an online formation company that specializes in registering companies. They are registered in both England and Wales with their statutory office is located in London, England. 1st Formations was founded by Graeme Donnelly. They claim to be an authorised agent of Companies House (a registrar of Companies in the UK) and a member of the Association of Company Registration Agents (ACRA). According to them, the formation of a company easy. They assert to be in partnership with Barclays, TSB, Mettle, Cashplus, Revolut and Counting Up.
Products and Services of 1st Formations
1st Formations has the following formation packages on their site - Digital, Privacy, Professional, Prestige, All-Inclusive, Non-Residents, LLP, eSeller and Limited by Guarantee. The All-Inclusive package is the most expensive. The package provides everything available on the prestige package while letting 1st Formations act as the client's company secretary. The cheapest package is the Digital which lets customers register a ready-to-trade basic limited company. 1st Formations offer the following services - confirmation statement, dormant company accounts, company dissolution, company name change, director appointment & resignation, business telephone services, full company secretary service, issue of shares, transfer of shares, certificate of good standing, apostilled documents, renewals, vat registration, Barclays bank account, cash plus bank account, and Anna bank account. They have a 14-day refund policy during which either the company or client has the right to cancel the agreement. This is only possible when a client has paid for a service in full but it has not been rendered. In a situation where the service(s) is already being fulfilled or it been carried out fully, the client has lost the right to cancel the agreement and will not be refunded.
