32-542: Cosalt plc was a diversified marine safety and leisure company, based in Grimsby , Lincolnshire . It was a constituent of the FTSE Fledgling Index . The name Cosalt was a portmanteau of the company's original title The Great Grimsby Coal, Salt and Tanning Company. Formed in 1873 as a co-operative of fishing vessel owners, it was a communal best-value support services company involved in servicing and supplying
64-484: A company director, provided they are not disqualified on one of the following grounds: The members must agree to take some, or all, of the shares when the company is registered. The memorandum of association must show the names of the people who have agreed to take shares and the number of shares each will take. These people are called the subscribers. There is a minimum share capital for public limited companies: before it can start business, it must have allotted shares to
96-402: A secured bank debt of £11.4M and pension deficit of almost £52M. Of the three operating divisions, Cosalt Wind Energy ceased trading and was liquidated, Cosalt Offshore was sold as a going concern to rival group ATR backed by NBGI Private Equity, and Cosalt Workwear sold as a going concern to Ross. Public limited company A public limited company (legally abbreviated to PLC or plc )
128-459: A single unit for some purposes, because the two form the constitutional successor to the former Kingdom of England. The continuance of Scots law was guaranteed under the 1706 Treaty of Union that led to the Acts of Union 1707 , and as a consequence English law—and after 1801 , Irish law —continued to be separate. Following the two Acts of Union, Parliament can restrict the effect of its laws to part of
160-576: A single unit, except for the land to the north of Hadrian's Wall – though the Roman-occupied area varied in extent, and for a time extended to the Antonine/Severan Wall . At that time, most of the native inhabitants of Roman Britain spoke Brythonic languages , and were all regarded as Britons , divided into numerous tribes. After the conquest, the Romans administered this region as a single unit,
192-465: A special resolution that it be so re-registered and deliver a copy of the resolution together with an application form to the Registrar. The resolution must also: If it does not already have sufficient share capital, the company must issue £50,000 in shares a minimum of 25% part paid. England and Wales England and Wales ( Welsh : Cymru a Lloegr ) is one of the three legal jurisdictions of
224-456: A variety of products and services for fleets, fishing, and other vessels, providing: The communal model grew around a number of other fishing and later UK marine ports, before the company was bought out by the son of one of the original founders, businessman (John) Carl Ross of the Ross Group . The company floated in 1971, and was chaired by his son; and then grandson David Ross , co-founder of
256-422: Is 23 minutes. Because the electronic process requires compatible software that works with Companies House eFiling service, companies are usually formed through a Company Formation Agent. Every company must deliver an annual return to Companies House at least once every twelve months. It has 28 days from the date to which the return is made up to do this. Failure to file a return is a criminal offence, for which
288-455: Is a type of public company under United Kingdom company law , some Commonwealth jurisdictions, and the Republic of Ireland . It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in
320-732: Is known as an Act of Senedd Cymru . For a company to be incorporated in the United Kingdom, its application for registration with Companies House must state "whether the company's registered office is to be situated in England and Wales (or in Wales), in Scotland or in Northern Ireland", which will determine the law applicable to that business entity. A registered office must be specified as "in Wales" if
352-595: The Carphone Warehouse . The original businesses has now developed into marine and industrial safety centre, and diversified into other markets, including: Workwear and Corporatewear. Through its association with Grimsby, Cosalt was a major player in the UK caravan market. It created the Piper brand, and after the failure of Sam Alper 's Caravans International bought its brands, including: ACE, Abbey, Bessacarr, Sprite; and later
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#1732858422638384-676: The Government of Wales Act 1998 . Measures and Acts of the Senedd apply in Wales, but not in England. Following the Government of Wales Act, effective since May 2007, the Senedd can legislate on matters devolved to it. Following a referendum on 3 March 2011 , the Senedd gained direct law-making powers, without the need to consult Westminster. This was the first time in almost 500 years that Wales had its own powers to legislate. Each piece of Welsh legislation
416-850: The Norman invasion of Wales in the 11th century, English law came to apply in the parts of Wales conquered by the Normans (the Welsh Marches ). In 1283, the English, led by Edward I , with the biggest army brought together in England since the 11th century, conquered the remainder of Wales , then organised as the Principality of Wales . This was then united with the English crown by the Statute of Rhuddlan of 1284. This aimed to replace Welsh criminal law with English law. Welsh law continued to be used for civil cases until
448-599: The Northern Ireland Executive 's Department of Enterprise, Trade and Investment , but since then Northern Irish company registrations, as with those of the rest of the United Kingdom , have been handled by Companies House. Formation of a public limited company requires a minimum of two directors and one secretary (differing from country to country: in India three directors are required). In general terms anyone can be
480-607: The United Kingdom . It covers the constituent countries England and Wales and was formed by the Laws in Wales Acts 1535 and 1542 . The substantive law of the jurisdiction is English law . The devolved Senedd (Welsh Parliament; Welsh : Senedd Cymru ) – previously named the National Assembly for Wales – was created in 1999 under the Government of Wales Act 1998 and provides a degree of self-government in Wales. The powers of
512-653: The United States are called publicly traded companies . A PLC can be either an unlisted or listed company on the stock exchanges . In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with ccc , an abbreviation for cwmni cyfyngedig cyhoeddus . However, some public limited companies (mostly nationalised concerns) incorporated under special legislation are exempted from bearing any of
544-614: The province of Britain . Long after the departure of the Romans, the Britons in what became Wales developed their own system of law , first codified by Hywel Dda (Hywel the Good; reigned 942–950) when he was king of most of present-day Wales (compare King of Wales ); in England Anglo-Saxon law was initially codified by Alfred the Great in his Legal Code , c. 893 . However, after
576-455: The English. This was reflected on both Henry VIII and Elizabeth I 's coat of arms where the dragon represented Wales and the lion represented England. As soon as the Tudor dynasty ended with the death of Elizabeth I , however, the red dragon of Wales was dropped and replaced with the unicorn of Scotland with the succession of King James I who demoted Wales' status on the coat of arms and on
608-570: The annexation of Wales to England in the 16th century by the Welsh House of Tudor . The Laws in Wales Acts 1535 and 1542 then consolidated the administration of all the Welsh territories and incorporated them fully into the legal system of the Kingdom of England. This was in part to update outdated Welsh laws, but also to control Wales alongside England; through these acts, the Welsh could be seen as equals to
640-511: The company wishes to use a name ending cyfyngedig or cyf , rather than Limited or Ltd. or to avail itself of certain other privileges relating to the official use of the Welsh language. Outside the legal system, the position is mixed. Some organisations combine as "England and Wales", others are separate. The order of precedence in England and Wales is distinct from those of Northern Ireland and Scotland , and from Commonwealth realms . The national parks of England and Wales have
672-587: The first adaptation of the Flag of Great Britain . Prior to 1746, it was not clear whether a reference to "England" in legislation included Wales, and so in 1746, Parliament passed the Wales and Berwick Act 1746 . This specified that in all prior and future laws, references to "England" would by default include Wales (and Berwick-upon-Tweed ). The Wales and Berwick Act was repealed by the Welsh Language Act 1967 , although
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#1732858422638704-572: The following categories: Bearer shares are no longer possible, as they were abolished in the UK by the Small Business, Enterprise and Employment Act 2015. Any existing bearer shares had to be converted to registered shares before February 2016, or face cancellation. A PLC has access to capital markets and can offer its shares for sale to the public through a recognised stock exchange. It can also issue advertisements offering any of its securities for sale to
736-705: The identifying suffixes. The term "public limited company" and the "PLC"/"plc" suffix were introduced in 1981; prior to this, all limited companies bore the suffix "Limited" ("Ltd."), which is still used by private limited companies . When a new company incorporates in England and Wales or in Scotland , it must register with Companies House , an executive agency of the Department for Business and Trade . Prior to October 2009, companies in Northern Ireland were registered with
768-572: The increase on Form 123 – must reach Companies House within 15 days of being passed. No fee is payable to Companies House. A company can decrease its authorised share capital by passing an ordinary resolution to cancel shares which have not been taken or agreed to be taken by any person. Notice of the cancellation, on Form 122, must reach Companies House within one month. No fee is payable to Companies House. A company may have as many different types of shares as it wishes, all with different conditions attached to them. Generally, share types are divided into
800-461: The independent Cotswold brand. However, in the 1990s they began concentrating on static caravans, and sold off many of the touring caravan brand to the rival Swift Leisure . In the mid-2000s and looking to sell the Leisure business, the division was eventually sold to Leeds-based turnaround specialists Endless Fund, but collapsed into administration 12months later. After losing 240 jobs and one factory, it
832-569: The legislature were expanded by the Government of Wales Act 2006 , which allows it to pass its own laws , and the Act also formally separated the Welsh Government from the Senedd. There is no equivalent body for England , which is directly governed by the parliament and government of the United Kingdom . During the Roman occupation of Britain , the area of present-day England and Wales was administered as
864-503: The officers of the company may be fined. There is an annual document-processing fee of £40 if filed by paper (or £13 for users of the Electronic Filing or WebFilings services), which must be sent to Companies House with the annual return. Both a private company limited by shares and an unlimited company with a share capital may re-register as a plc, but a company without a share capital cannot do so. A private company must pass
896-423: The public. In contrast, a private company may not offer to the public any shares in itself. The following documents, together with the registration fee are sent to the Registrar of Companies: The key difference with the paper process is that there is no Form 12 and requirement for a statutory declaration. This significantly speeds the process: the record at Companies House for the formation of an Electronic Company
928-466: The realm, and generally the effect of laws, where restricted, was originally applied to one or more of the former kingdoms. Thus, most laws applicable to England also applied to Wales. However, Parliament now passes laws applicable to Wales and not to England (and vice versa), a practice which was rare before the middle of the 20th century. Examples are the Welsh Language Acts 1967 and 1993 and
960-434: The statutory definition of "England" created by that Act still applies for laws passed before 1967. In new legislation since then, what was referred to as "England" is now "England and Wales", while subsequent references to "England" and "Wales" refer to those political divisions. There have been multiple calls from both Welsh academics and politicians for a Wales criminal justice system . England and Wales are treated as
992-413: The value of at least £50,000. A quarter of them, £12,500, must be paid up. Each allotted share must be paid up to at least one quarter of its nominal value together with the whole of any premium. A company can increase its authorised share capital by passing an ordinary resolution (unless its articles of association require a special or extraordinary resolution ). A copy of the resolution – and notice of
Cosalt - Misplaced Pages Continue
1024-618: Was bought by a management team and renamed Cosalt Custom Homes, preserving 20jobs. Cosalt had a turbulent later history. Cosalt Marine was sold to Survitec in August 2011. This was followed shortly afterwards by an unsuccessful bid by chairman David Ross to buy and delist the company. Trading in the company's shares was suspended when the deadline for producing its Annual Results and Report for year end 31 December 2011 passed in April 2012. Cosalt eventually went into administration on 15 February 2013, with
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