This is probably the best place to start, given the confusion that often surrounds the term.
Company Secretarial (or “CoSec”) covers the legal and administrative responsibilities of a company. These range from maintaining statutory registers (such as the register of members, people with significant control, and directors) to preparing minutes of meetings in compliance with the Companies Act 2006, and filing the necessary notifications with Companies House.
CoSec also includes preparing documentation for share-related matters, such as allotments, share transfers, and other corporate transactions affecting a company’s share capital. In larger organisations and PLCs, the role extends further to meet additional regulatory and governance requirements.
A company secretary typically works closely with accounting firms to support their portfolio of client companies, and may also collaborate with law firms on specific, ad hoc projects. With an increased trend moving towards flexible working, outsourcing company secretarial support has become increasingly attractive to many firms.
It is worth emphasizing that, in light of the many reforms affecting UK companies, having reliable CoSec support is no longer a “nice to have”, it is essential. It ensures compliance with the Companies Act 2006, the Economic Crime (Transparency and Enforcement) Act 2022 (ECA), the Economic Crime and Corporate Transparency Act 2023 (ECCTA), and provides stakeholders, particularly shareholders, with confidence that their interests are properly recorded and protected.
Personally, I am only a shareholder in my own companies, but if I were investing in others, my priority would be to ensure that all corporate records and documentation are accurate and in order. What I value most about my work is being a trusted point of reference for clients who rely on me to maintain their companies’ compliance.
Bolasco Company Compliance provides company secretarial and compliance support for UK limited companies.