CoSec, short for ‘company secretarial', refers to essential company secretarial services that help businesses comply with statutory administrative obligations, such as filings at Companies House and maintaining accurate statutory registers. Staying compliant ensures your business avoids penalties.

While you technically don’t need professional company secretarial services, managing compliance can be challenging especially since the introduction of the Economic Crime and Corporate Transparency Act 2023 (ECCTA) and the increased obligations on Directors to comply. Companies House designed its filing system for DIY use, but understanding statutory obligations and navigating complex forms can lead to costly errors. Last year alone, Companies House collected over £90 million in late filing penalties. Professional CoSec services simplify compliance, saving you time, money, and worry.

With over 20 years of experience in corporate law, ProSec ensures your filings are up-to-date, reducing your risk of penalties and saving you time. As a verified Authorised Corporate Service Provider, ProSec is set up to file on your behalf under ECCTA. Our flat-fee structure is designed to be affordable—offering better value than most law firms.

A confirmation statement (CS01) is a mandatory annual filing that confirms your company’s shareholders, issued share capital, directors, and Persons with Significant Control (PSC). Failure to file on time can result in fines or even company dissolution. ProSec’s CoSec Services package includes full responsibility for filing your CS01, ensuring compliance and peace of mind.

A Person with Significant Control (PSC) is someone who:

• holds 25% or more of the shares or voting rights;
• has the right to appoint or remove directors; and/or
• exerts significant influence over the company.

ProSec can help you identify PSCs and ensure compliance with notification requirements at Companies House.

Annual accounts summarise your company’s financial performance and must be filed with Companies House yearly, even for non-trading or dormant companies. Late filing can result in substantial penalties. ProSec offers email reminders and filing services to ensure your accounts are submitted on time, avoiding fines and stress.

Key filings include:

• Appointment or resignation of directors.
• Issuing shares or changing company articles.
• Special resolutions passed by shareholders.
• Company name changes.

If you’re unsure about required filings, ProSec can handle the process for you, ensuring full compliance.

Statutory company registers include essential records such as:

• Register of Members
• Directors' Service Contracts
• Register of Share Transfers
• Register of charges
• Register of Directors
• Register of Directors' Indemnities
• Register of Directors' residential addresses
• Register of Debenture Holders
• Register of Persons with Significant Control
• Board minutes and shareholder meetings
• Register of Secretaries
• Resolutions

By law, these must be kept up-to-date and available for inspection at your registered office. ProSec’s CoSec Services package includes digital management of all registers, saving you time and ensuring compliance.

We have three options for you to choose from and the package you choose will depend on how 'active' your company is during the year. If there will be little activity, then our PAYG or PAYG+ packages would be suitable where you have a lower flat fee and can pay for additional filings if you need them. If your company will be very active, our All Inclusive package will cover anything you need for the year.

Companies House filing fees are charged at cost apart from the fee for electronically filing your annual confirmation statement, which is covered under each of packages.

To comply with anti-money laundering (AML) regulations, ProSec performs Know Your Customer (KYC) checks on new clients, directors, and PSCs. Our e-verification tool makes the process quick and hassle-free, requiring only a passport and proof of address from the last 3 months.

The Economic Crime and Corporate Transparency Act 2023 introduced rules to increase transparency in company ownership. Under these changes, all directors, material ultimate beneficial owners (UBOs), and prospective directors must have their identities independently verified by an authorised agent.

This verification process ensures that only legitimate individuals are linked to companies registered at Companies House. Once verified, you will receive a unique identity code. This code will be required for future filings involving the individual, such as the annual Confirmation Statement (CS01). As a verified Authorised Corporate Service Provider, ProSec is set up to file on your behalf.

As a regulated corporate services provider, ProSec is an Authorised Corporate Service Provider which means we can handle the entire verification process for you, making compliance simple and stress-free.

Read our brochure which explains what is happening and how we can help.

We also offer a central London Registered Office address service, a new company Incorporation service and a Register of Overseas Entity service as well as more bespoke services such as digitising your company registers, creating board minutes, shareholder resolutions, articles of association, an iterative cap table, dissolving your company or just running a CoSec MOT to check everything is in order. If you need any of these services, please Contact Us for a quote.