08 November 2019
Given Arti and Collette’s shared love of art, they decide to set up a business together where they can buy and sell valuable pieces of art and sell Collette’s own work to the public.
Arti and Collette approach BTO’s corporate team who are able to provide advice in relation to the incorporation of their new company, ‘A&C Art Limited’. Arti and Collette wish to manage their business together and so their solicitor suggests that they are both appointed as directors of the company and are both responsible for the day to day running of the art dealership.
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Emma Barclay |
Gary explains that on becoming directors, Arti and Collette will owe certain duties to the company. Gary is able to provide Arti and Collette with clear and practical advice in relation to these duties to ensure that they comply with the Companies Act 2006.
Prior to the incorporation of A&C Art Limited, Arti and Collette had met with their local bank, which agreed to loan the company £100,000 in order to kick start their art dealership business and allow it to purchase its first works of art. BTO’s Banking and Finance team were able to advise and assist Arti and Collette in securing the proposed bank loan following the incorporation of the company.
They were able to provide Arti and Collette with ongoing advice in relation to their business and to deal with any filing required to be made at Companies House on their behalf.
Arti and Collette are very excited about their new venture and decide to have a celebratory break away before the hard work begins…
Contact: Emma Barclay, Partner E: eba@bto.co.uk / T: 0141 221 8012
