Ready Made Company
What Is a Ready Made Company?
Historically, new companies had to be registered with Companies House by the submission of paper forms and hard-copies of the company articles. This process took a number of days and was not much use to those people in a hurry to get started with their new company right away.
As a result, company formation agents started pre-registering companies and holding them in stock for clients to purchase; transferring into their names on request. These kinds of pre-registered companies were referred to as "ready many companies" or "off the shelf companies".
Online Company Registration
In the age of electronic filing systems, registration of a new company with Companies House takes just a few hours, rather than a few days. So the need for ready made companies has become less relevant. For those people who want to form a company in their own name we have a range of company formation packages.
However, there may be circumstances where a ready made company might still be relevant.
Why You Might Need One
If you've got an important contract in the works, you might need a company registration number in order to enter into it. In this case, a ready made company is the best option, as it may take time to get a company number for a brand new company started from scratch.
Purchasing a ready made company, you can use the pre-registered company number to complete the contract while the company transfer is being completed.
Another reason to purchase a ready made company is to take advantage of the age of registration. A company which has been previously registered, months or years before (known as a Vintage Company) may be preferable for a number of reasons.
A good example is big contracts, especially with local authorities – some of these require a business to have been registered/established for a number of years before they can bid on the contract. This can present a hurdle for brand new companies, but purchasing a ready made company allows you to get around this problem.
Transferring a Ready Made Company
We have previously registered a number limited companies in order to be able to offer a ready made company service to those who need it.
So if your business needs require you to register a ready made company rather than carry out a brand new Company Formation then take a look out of list of pre-registered companies on our Vintage Company page ("vintage" simply refers to the age of registration).
Benefits of Ready Made Companies
There are a few benefits of ready made companies which make them an appealing alternative to traditional company formation
Company Registration Number – for essential contracts and important deals, you can quickly make use of a genuine company number.
Historic Registration – prior registration makes some business dealings easier.
Finance Acquisition – banks and other lenders are more likely to finance a company which was registered historically.