Sometimes Companies House will return a nominal value that is missing.
2 common scenarios will cause this. They are:
A - if Companies House returns a nominal value of £0.00 per share. This will need to be corrected; this can only be actioned if the share class is unreconciled. You can do this if you follow the steps below.
B - If the number of shares are correct but Companies House returns a proper nominal value amount e.g. £1.00 but you are expecting it to be £0.01 (or Inform Direct shows 1p but Companies House shows £1). This cannot be amended using software; it indicates a mistake in the aggregate nominal value on the latest statement of capital filed at Companies House. To fix it:
- Correct the filing at Companies House (a second filing), then remove and re-import the company into Inform Direct.
- If it's urgent and you can't wait for the corrected filing to be processed, email support@informdirect.co.uk with the company name and number and we can ask our technical team to amend the nominal value in Inform Direct instead.
This process described below is to add back the nominal value when none has been returned unreconciled i.e A above:
1. Go to the Share Classes tab and click on the pencil and select Edit share class.
2. This will bring up this screen. Select "change the name and/or the rights of a share class"
4. Enter the date of change and the share class you wish to amend.
5. The next screen will give you the opportunity to add back the Nominal Value. Leave the Class description (name) as displayed. You cannot change the Currency. Select the Type of share from the dropdown list e.g. Ordinary
If the Prescribed Particulars are missing see: How do I add back the Prescribed Particulars? Now add the Nominal value per share.
6. Then click the green Submit. No message will go to Companies House.
7. You will then have the option to generate the required Companies House form SH08. If you are adding back Prescribed Particulars for a share class because none were returned by Companies House you can finish without generating the form. Otherwise remember to print and send SH08 to Companies House.
Also known as: share value different to Companies House, nominal value wrong after import, 1p instead of £1, £1 instead of 1p, share value per Inform Direct different to Companies House, aggregate nominal value wrong on statement of capital.