A limited company SAIL address is a Single Alternative Inspection Location that limited firms can use for the storage and inspection of certain company records. These records are normally kept at an organization’s registered office address, but sometimes it’s more convenient to store them at a SAIL address.
On this post, we discuss the aim and requirements of a limited company SAIL address and why you’ll use one. We also explain the method involved in organising any such address and moving company records out of your registered office address.
What’s a limited company SAIL address?
‘SAIL’ is an abbreviation of Single Alternative Inspection Location. It’s an optional address that limited firms (and LLPs) can use to store certain records (mainly statutory registers) and make them available for public inspection.
Ordinarily, an organization would use its registered office address for these purposes. But sometimes the registered office isn’t suitable or convenient for the storage and inspection of company records. In such circumstances, you’ll be able to arrange and use a SAIL address as an alternative.
In case you resolve to make use of a single alternative inspection location, it have to be situated in the identical country as your registered office (either England & Wales, Wales only, Scotland, or Northern Ireland).
You should have to notify Firms House and state which records and registers are being kept there. The SAIL address shall be placed on the general public register of firms, alongside your other company details.
Why would I take advantage of a Single Alternative Inspection Location?
Firms normally use a SAIL address when the administrators determine that the registered office is unsuitable for the storage and/or inspection of company records. This could possibly be for any variety of reasons, comparable to:
- the director is using a house address as a registered office and so they don’t need people inspecting company records of their private residence
- the registered office address is simply too distant for the director or company secretary to simply accommodate inspections
- the registered office isn’t secure for the general public, has poor access, is difficult to search out, or is positioned in a distant a part of the country
- to supply a more skilled or appropriate setting for inspections
- the corporate’s accountant or secretarial agent takes care of the corporate’s records at their business address
- the corporate’s registered office is temporarily out of use or under construction
You wouldn’t have to offer a reason for using a SAIL address. It’s entirely as much as you whether you should arrange a SAIL address or proceed storing your organization records at your registered office.
Does a SAIL address should be within the UK?
Yes, it have to be situated within the UK. Specifically, in the identical UK jurisdiction where the corporate is incorporated and where the registered office address is positioned.
Which means that your SAIL address must be positioned in:
- England or Wales – if you happen to register an organization in England & Wales
- Wales only – if you happen to arrange a Welsh company in Wales only
- Scotland – if you happen to register a Scottish company
- Northern Ireland – if you happen to arrange a Northern Irish company
Nonetheless, just like the registered office address, you’ll be able to change a SAIL address at any time when you want and as often as you would like – on the condition that it stays in the identical a part of the UK.
What company records and registers can I keep at a SAIL address?
The corporate records and registers which you could keep at this address include:
- register of members (shareholders or guarantors)
- register of directors
- register of company secretaries
- register of individuals with significant control (PSCs)
- register of charges (e.g. mortgages) and instruments creating those charges
- directors’ service contracts
- directors’ indemnities
- copies of company resolutions
- minutes of general meetings
- contracts relating the acquisition or redemption of own shares
- register of debenture holders
All of those records might be inspected by most of the people, following a correct written request made to the corporate.
Easy methods to arrange a SAIL address
Establishing a SAIL address is simple. Once you have got chosen an appropriate address, you could notify Firms House by filing forms AD02 and AD03 online. These have to be delivered inside 14 days.
Form AD02 is used to register the SAIL address. Form AD03 is used to inform Firms House which records you might be moving out of your registered office to the SAIL address. For limited liability partnerships (LLPs), you’ll use forms LL AD02 and LL AD03 as an alternative.
To finish form AD03, you will have to supply your organization name, registration number, and single alternative inspection location.
To finish form AD03, you need to provide your organization name and registration number and indicate which company records are being kept on the SAIL address.
Easy methods to change or stop using a SAIL address
In case you resolve to vary your SAIL address at any point, you’ll be able to notify Firms House online using forms AD02 and AD03. The procedure is precisely similar to registering a SAIL address for the primary time. You will need to tell Firms House inside 14 days.
If you should stop using a SAIL address altogether and/or return some or all your company records back to your registered office, you need to file form AD04 (or form LL AD04 for an LLP) at Firms House inside 14 days.
So there you have got it…
We’ve shed some light on the limited company SAIL address by explaining what it’s, why you’ll use and arrange one, and the corporate records you’ll be able to keep there.
If you have got any questions on using a SAIL address on your limited company, please contact us or leave a comment below.
