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Companies House London Information Centre - new address from October
15-08-2019

Companies House London Information Centre  - new address from October

The London Information Centre of Companies House is moving to new offices in Westminster from Monday, 7 October 2019.

The new address for the London Information Centre will be:

Companies House
Ground Floor
80 Petty France
Westminster
London
SW1H 9EX

The new offices (see Google Maps) are adjacent to the Ministry of Justice and close to St James’s Park tube station.

Companies House is having to move as the lease on its current office on Abbey Orchard Road, just behind the Victoria Street offices of the Department for Business, Energy and Industrial Strategy, is about to run out. It currently shares the premises with the Insolvency Service.

Insolvency Service – new address

The Insolvency Service has announced that it will be moving to new offices in Stratford, East London in the Autumn, but has not yet announced exactly when the move will take place.

The new Insolvency Service address will be:

Insolvency Service
16th Floor
1 Westfield Avenue
Stratford
London, E20 1HZ

View the new Insolvency Service address in Google Maps.

 

Information for subscribers

The above article is relevant to CSP 10.18 ─ Companies House.


 

Companies register continues to grow

The number of companies registered in the UK continues to grow according to the latest statistical release by Companies House - Companies register activities: 2018 to 2019. The total size of the register at the end of March 2019 was 4,202,044, an increase of 4.2% compared to the previous year.

This represents a reduction in the rate of growth seen in recent years, which averaged 5.8% over the previous five years. The number of new incorporations in 2018 to 2019 increased by 8.5% to 672,890. However, this was partly offset by an increase in the number of dissolutions which rose by 3.7% to 508,865.

The Companies House statistical release provides information about the population of companies and corporate bodies in the UK. It complements the quarterly Incorporated Companies in the UK release by providing information on both companies to which the Companies Act 2006 relates, and on wider corporate body types.

 

Incorporated companies

The above figures represent the total register size, which includes companies in the process of dissolution and liquidation (275,670). The effective register, which does not include companies in the process of dissolution and liquidation, was 3,926,374 at the end of March 2019.

The number of companies by region was:

Region                         Number           Increase

England & Wales        3,992,330        4.2%

Northern Ireland          62,193             6.4%

Scotland                      217,521           4.1%

Incorporations increased by 49,170 (8.4%) in England and Wales and by 2,420 (7.9%) in Scotland. Northern Ireland saw the highest percentage increase of 14.3%, an increase of 1,015 incorporations.

In the same year, there were 508,865 dissolutions, an increase of 3.7% compared with 2017 to 2018. The highest rate of increase in dissolutions were found in Northern Ireland (12.1%), followed by Scotland (7.4%) and England and Wales (3.4%).

 

Age of companies on the register

The average age of UK companies on the register in 2018 to 2019 was 8.5 years, consistent with 2017 to 2018. Over half of companies were aged under five years. Over two-thirds were under 10 years’ old. Less than one in ten companies were aged over 20.

The average age of companies has gradually declined from 10.7 years in 2000 to 2001 to 8.5 years in 2018 to 2019. This is mainly a result of the increasing number of incorporations, which has led to a greater number of younger companies on the register, reducing the average age of companies overall. However, the average age of dissolved and closed companies has also declined from 5.7 years in 2012 to 2013 to 5.0 years in 2018 to 2019.

 

Types of corporate body on the register

There are over 23 types of corporate body held on the register. These include a number of corporate body types not incorporated under the Companies Act 2006.

Since 2004, private limited companies have consistently accounted for over 96% of all corporate body types. During this time, the three corporate bodies accounting for the highest proportion of all corporate bodies were private companies limited by shares, limited liability partnerships (LLPs) and limited partnerships. These three corporate body types account for over 98% of the total register.

Table 1: Breakdown of corporate body types on the total UK register for 2018 to 2019

Corporate body type

Number

Percentage of all corporate bodies

Private company limited by shares

4,040,779

92.8

Private company limited by guarantee/No share capital

108,483

2.5

Limited Liability Partnership

52,429

1.2

Limited Partnership

51,761

1.2

Private Limited by Guarantee/No Share Capital/(Use of Limited Exemption)

41,923

1.0

Charitable Incorporated Organisation

20,863

0.5

Overseas Company

12,236

0.3

Industrial and Provident Society

9,543

0.2

Public Limited Company

6,529

0.1

Other corporate body types

9,028

0.2

Total of corporate body types

4,353,574

100.0

Source: Companies register activities for 2018 to 2019, Companies House.

Although the composition of the register overall has remained stable, there have been some minor fluctuations within the individual company types:

  • Charitable Incorporated Organisations (CIOs) were introduced in late 2017. The Charity Commission allowed charitable companies to convert to CIOs. This is an incorporated structure designed for charities and needs to be registered with the Charity Commission. For the financial year of 2018-19, there were 16,999 CIOs in England, Wales and Northern Ireland (0.4% of all corporate bodies) and 3,864 Scottish CIOs (0.1% of all corporate bodies).
  • Limited liability partnerships (LLPs) were introduced in 2001. They gradually increased in number to make up 1.8% of the register in the years 2012-2014. However, the proportion of LLPs has since gradually declined, and they now account for 1.2% of the register.
  • Limited partnerships have grown from 0.5% of the register at the end of 2004 to 1.2% at the end of March 2019. This has been primarily due to large increases in the numbers of limited partnerships in Scotland between 2012 and 2013, where they have corporate personality.
  • Public limited companies have been declining in number since 2008, from 9,900 in 2008 to just 6,529 in 2019. They now make up only 0.1% of the register overall. This is partly a result of the decline in the number of listed companies over that period but may also be consequence of conversions by companies that were incorporated as a public company as a kind of status symbol.

The above figure for other corporate body types include:

  • 47 European public limited liability companies (Societas Europaea);
  • 294 European Economic Interest Groupings (EEIGs);
  • 862 Companies incorporated by Royal Charter;
  • 39 Companies incorporated under special Acts of Parliament; and
  • 4,431 Unlimited companies.

 

Overseas companies

At the end of March 2019, there were 11,773 overseas companies - corporate bodies incorporated outside of the UK that have a physical presence in the UK (such as a place of business or branch) through which they carry out their business. Since 2013-14, the number of overseas corporate bodies on the register has increased by 1,355.

Over a fifth (21.7%) of overseas companies on the register originate from the USA. The Republic of Ireland, the second highest originating country, accounts for 987 overseas companies (8.4%). The top ten countries accounted for 63.1% of all overseas companies on the total register at the end of March 2019. The total numbers from these top ten countries were:

  • USA (2,552);
  • Republic of Ireland (987);
  • Channel Islands (873);
  • Netherlands (597);
  • Isle of Man (517);
  • Germany (515);
  • Virgin Islands (461);
  • Cayman Islands (322);
  • India (320); and
  • France (284).

There were 738 new overseas companies registrations in 2018 to 2019. Of these, 98 (13.3%) originated from the USA, 96 (13.0%) from the Channel Islands and 70 (9.5%) from the Republic of Ireland.

 

Further information

A full breakdown of figures for England and Wales, Scotland, Northern Ireland and the UK as a whole is provided in an Excel workbook that accompanies the Companies register activities: 2018 to 2019 release, which can be downloaded from the Companies House website. The spreadsheet provides detailed comparative figures for previous years, going back as far as 2008 in some cases.

 


Information for subscribers

The above article is relevant to CSP 10.18 ─ Companies House.