1st Formations review

Embarking on a new business venture can be daunting. Thankfully, there are services available to lend a helping hand. Formation companies offer a reliable and convenient solution for entrepreneurs looking for professional assistance, streamlined processes, and peace of mind when establishing their businesses.

1st Formations is one of the UK's leading company formation agents. Operating since 2014, they've helped to establish over 1 million companies and have assisted countless entrepreneurs in growing their businesses. As an authorised Companies House eFiling agent, they offer quick and simple online company formation, with most new companies being registered within 3 to 6 working hours.

We’ve looked across various review platforms, including Trustpilot, Google, and Yell, to see what people think about 1st Formations. Here are the review ratings we found:

Taken together, 1st Formations has an average rating of 4.8/ 5 across these three review platforms out of a total of 22,318 reviews, highlighting positive customer sentiment.

1st Formations provides a wide range of services to meet the diverse needs of business owners. Their offerings go beyond simple company incorporation, ensuring businesses have access to essential support and compliance solutions. Here's a breakdown of some of their services:

Address Services:

• Registered Office Address Service: Safeguard your privacy and enhance your corporate image with a prestigious London registered office address. All official government mail will be scanned and emailed to you free of charge.

• Service Address Service: Maintain the privacy of your residential address by using 1st Formations' London service address for Companies House correspondence.

• Business Address Service: Receive general business correspondence at 1st Formations' London address, establishing a professional presence for your company.

Company Services:

• Confirmation Statement: Ensure your company remains legal and compliant by utilising 1st Formations' confirmation statement filing service, verifying that your company information is accurate and up-to-date.

• Dormant Company Accounts: Save on costly accountancy fees, allowing you to file required accounts for non-trading (dormant) companies efficiently.

• Company Dissolution: Dissolve your company by applying to Companies House through 1st Formations' complete service, including the DS01 form, board resolution and continued use of their registered office and service address.

• Change of Company Name: Effortlessly change the name of your limited company. 1st Formations will handle the paperwork and necessary filings with Companies House.

• Director Appointment & Resignation: Ensure compliance and proper documentation when appointing or resigning directors, including appointment or resignation letters, board resolutions, and submission to Companies House.

• Issue of Shares: Easily create and allocate new shares to shareholders, providing the necessary documentation, such as application letters, board resolutions, and share certificates.

• Transfer of Shares: Let 1st Formations handle the process of transferring shares between shareholders, ensuring proper documentation and filings with Companies House.

• Certificate of Good Standing: Request a Certificate of Good Standing from Companies House to demonstrate your company's compliance with all statutory requirements.

• Apostilled Documents: Legalise company incorporation documents for use abroad, obtaining official authentication and attachment of an Apostille Certificate.

• Business Telephone: Make a positive first impression with affordable business telephone numbers and call answering services, ensuring professional and prompt call handling for your business.

What Sets Them Apart:

1st Formations stands out from competitors by providing additional services that go beyond basic company formation. Their commitment to long-term support and ongoing compliance sets them apart, making them the ideal partner for businesses seeking tailored solutions to meet their needs. These services include:

1. Company Secretary: 1st Formations provides a full company secretarial service to assist businesses with ongoing compliance requirements. They can handle important administrative tasks such as annual confirmation statement filing and ensuring company records are up to date. The service also includes a named company secretary and dedicated account manager.

2. VAT Registration: 1st Formations offers assistance with VAT registration, a crucial step for businesses that reach the VAT threshold or choose to register voluntarily. Their knowledgeable team can guide you through the registration process, ensuring compliance with HMRC requirements.

3. Free business bank account: Last but not least, 1st Formations also offers a free business bank account for all their customers. Pick and choose from 8 banking options, including Wise, Natwest, and Tide, all with simple online account opening.

These additional services go beyond the initial company formation process, providing businesses with ongoing support and peace of mind. By offering a wide choice of services, 1st Formation simplifies the administrative burden for their clients, enabling them to focus on running and growing their businesses.

From choosing a company name to document submission and company incorporation, 1st Formations offers a smooth and quick experience. Let's dive into their step-by-step process:

Step 1: Choose a company name

• Start by using the company name search tool provided by 1st Formations to check if your desired name is available for registration.

• If your first choice is taken, keep searching until you find an available name that resonates with your business activity or core values.

Step 2: Select a package

• 1st Formations offers a range of packages tailored to meet different business needs. Choose the package that best suits your requirements.

• Whether setting up a limited company for general trading or a non-profit organisation, 1st Formations has options catering to various company structures.

• They even provide specialised packages for non-residents, e-sellers in the thriving e-commerce industry, and those looking to establish a public liability company.

Step 3: Checkout

• Proceed to the checkout stage, where you can enhance your package with useful extras such as a registered office, business address, or even a guaranteed same-day company formation service.

• Secure your chosen package by making a secure debit or credit card payment.

• Upon completion, expect a purchase confirmation email along with login details for your Online Company Manager, ensuring you stay connected throughout the process.

Step 4: Enter your company details

• The final stage of the process only requires five minutes of your time. 1st Formations will guide you through an easy-to-follow online company incorporation application.

• During this step, you'll provide essential details such as selecting your registered office and appointing key positions like director, shareholder, and person of significant control.

• Should you have any uncertainties, don't hesitate to contact their knowledgeable UK-based support team via call or chat.

Once you've completed these four steps, your new company application will be submitted to Companies House, the registrar of companies in the UK. Companies House typically processes applications within 3 to 6 working hours.

After successful incorporation, 1st Formations sends your company formation documents, VAT invoice, and Webfiling Authentication Code via email. They also provide details about your free .co.uk domain name and any additional services included with your purchase.

If you've opted for printed documents, they'll arrive at your doorstep within 24 hours. In addition, if you've chosen a business bank account referral, you'll receive an email to initiate the account opening process.

To successfully form a company with 1st Formations, you’ll need to provide certain key information. Here are the details you’ll be required to supply:

Company Name: Choose a unique and appropriate name for your business which accurately reflects its nature and values.

Registered Office: Provide the official address of your company, which must be a physical postal address in the country of incorporation. A PO Box number can’t be used. Companies House and HMRC will use this address for all official correspondence and be publicly recorded.

Business Activity: Select a Standard Industrial Classification (SIC) code that describes and classifies your company's business activity. 1st Formations’ online process includes a search facility for finding the correct SIC code, but you can also refer to the SIC code list beforehand.

Director's details: Add the following information for each director of your company:

• Full name

• Date of Birth (minimum age requirement is 16)

• Occupation

• Nationality

• Residential address (not publicly registered)

• Service address (residential or alternative address)

Shareholders' details:

For Persons with Significant Control (PSC):

• Full name

• Date of Birth

• Residential address (not publicly registered)

• Service address (residential or alternative address)

• Nationality

• Nature of control (e.g., percentage of shares held)

For Shareholders without Significant Control (non-PSC):

• Full name

• Date of Birth

• Residential address (not publicly registered)

• Service address (residential or alternative address)

• Nationality

Security details: As an additional security measure acting as an online signature, you will be required to provide the following security details:

• First three letters of the mother's maiden name

• First three letters of the father's forename

• First three letters of town of birth

Secretary details (optional): If applicable, provide the following information to apply for the company secretary service:

• Full name

• Date of Birth (minimum age requirement is 16)

• Occupation

• Nationality

• Residential address (not publicly registered)

• Service address (residential or alternative address)

Person with Significant Control (PSC) details (if applicable): If there’s an individual who holds significant control over the company but is not a director, shareholder, or secretary, you’ll need to provide the following details:

• Full name

• Date of Birth

• Residential address (not publicly registered)

• Service address (residential or alternative address)

• Nationality

• Nature of control (e.g., percentage of shares held)

1st Formations may also require additional information or documentation for certain services, such as VAT registration or legal services. These specific requirements will be communicated to you during the company formation process.

When considering the pros and cons of using 1st Formations as your Formation Agent, it's essential to weigh the benefits against any potential drawbacks. Here are some key advantages and disadvantages to consider:

Advantages of 1st Formations:

• Wide range of services: 1st Formations offers a wide range of services to support your company formation and ongoing business needs. From company registration to additional services like registered office addresses, VAT registration, and more, they’ve got you covered.

• Competitive pricing: With various package options, 1st Formations provides flexibility to choose a package that suits your budget and requirements. Their pricing structure is transparent, allowing you to easily understand the costs associated with each service.

• Excellent customer service: 1st Formations prides itself on delivering excellent customer service. Their friendly and knowledgeable team is available 24/7 to help you throughout the company formation process, answering any questions and providing guidance when needed.

• Expertise and experience: With their experience in the industry, 1st Formations brings valuable knowledge to the table. They understand the intricacies of company formation and can navigate the process efficiently, ensuring compliance with regulations.

• Quick and easy application: The simple online process means you can apply and start trading as a limited company within a mere 3-6 working hours.

Disadvantages of 1st Formation:

• Higher costs for additional services: While the basic company formation packages offer competitive pricing, some of the additional services come at a higher cost. It's important to carefully consider the value of these add-ons and assess whether they are necessary for your specific business needs as they can quickly add up. Their prices also exclude VAT.

• Information overload: While everything is outlined on their website, there’s a lot of information to take in regarding the packages and additional services available, which can result in a lot of reading time.

Ultimately, 1st Formations offers a strong package for company formation with a range of services, competitive pricing, and excellent customer service. While there may be a lot of information to get through or higher costs for certain services, their expertise and comprehensive offerings make them a reliable and trusted choice for those seeking help in setting up and managing their company.

1st Formations is one of the top company formation agents in the UK, offering a wide range of services that assist businesses with all their company formation needs.

With comprehensive services, entrepreneurs can find the right fit for their needs, while their transparent pricing enables customers to make informed decisions based on their budgets. While ultimately providing value for money, it's important to remember that their pricing doesn't include VAT, and this, alongside optional extras, can make the total cost mount up fast.

Positive customer feedback reflects high satisfaction levels with 1st Formation's services, with clients appreciating their friendly and knowledgeable customer support, which provides guidance throughout the entire company formation process. With their excellent reputation, it's easy to see why so many business owners choose to use 1st Formations, making them one of the top formation agents in the UK.

Check out our other formation agent reviews

There are several other companies that can help you start a business in the UK. We've reviewed their services to help you decide which suits your needs best.

• Seed Formations
• TheFormationsCompany
• Companies Made Simple
• 1st Formations
• Tide Company Registration service