How much will it cost?

The Leasehold Guidance Service provides a pre-constituted companies, immediately available for purchase at a cost of £160 (+VAT).

These are specifically formulated companies with the 1989 Companies Act de-regulaton package already pre-adopted to exempt the company from certain imposed requirements of Companies House.

This means that:

• There is no requirement to schedule an Annual General Meeting (AGM). However, any member of the company can call an AGM or EGM (Extraordinary General Meeting) whenever they require by giving requisite notice to company members.
• Directors of the company are not forced to retire and can serve indefinite periods of office.
• The annual requirement to re-elect the directors no longer exists.
• The annual requirement to re-elect the auditors no longer exists.
• The company is specifically formulated by guarantee, which means that no shares are issued and leaseholders are simply listed in a company register. Leaseholders are automatically members of the management company and when it comes to selling a flat, their are no share certifictes to transfer between parties.
  (However, where a company is limited by share capital, the Leasehold Guidance Service has the facility to issue membership certificates.)