The link below enables the download of Companies House Form 88(2)
Form 88(2) Download
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| A new Form SH01 is now used for share issues occurring on or after 1st October 2009 following the introduction of the Companies Act 2006. |
Form 88(2) Guidance and Completion Notes
Period over which shares have been allotted
In situations where shares have been issued over a period of time, both the start date when the first allotment was made and the last date should be entered in the respective boxes.
Types of issue
In most cases, the type of share issued by smaller companies is categorised as ordinary. If another class of share exists and has been allotted, the appropriate description should be noted.
Form 88(2) allows several different classes of share to be entered on the same documents.
Number issued
The number issued would be the volume allocated and not their nominal or market values.
Values
The nominal value for the majority of companies’ shares is £1. Unless the amount is known with certainty however, it is worth confirming this by viewing the memorandum and articles of association and the statutory records for any subsequent changes.
Amounts paid
Many small companies’ shares attract their nominal value when they are issued. Form 88(2) mandates that this or an alternative value which was or is to be received as consideration should be entered.
Alternative consideration
Where a cash alternative has been given for the shares, a description of that consideration and its value is required. The proportion of the issue which has been satisfied by the receipt must also be provided.
Supporting information detailing the exchange would need to accompany Form 88(2).
Allottees particulars
Where the allottee is an individual, their usual residential address should be provided. In situations when a company is the beneficiary of the share issue, their registered office address is normally used.
Signatories
A company director or secretary’s signature must verify that the allotment has taken place in accordance with the details contained on the Form 88(2) being submitted.
