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CALLED UP SHARE CAPITAL - the amount that the company has required
shareholders to pay on the shares issued.
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CAPITAL - the amount belonging to the owners of a business
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CAPITAL EMPLOYED - Net Worth plus Long-term Liabilities.
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CERTIFICATE OF INCORPORATION - a document given by the Registrar of
Companies to certify that a company has been incorporated under the Companies
Act. As from the date on the certificate, the company acts as a separate legal
entity.
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CHAIRMAN'S STATEMENT - the published statement by the chairman of a
company, which is included in the annual accounts. Usually found in the accounts
of Public Limited Companies and should not be confused with the Directors Report.
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CHAMBER OF COMMERCE - an association of business people within
a given region/area, formed to promote and help commerce and industry in that
particular area.
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CHARITY - a body of individuals or trust established for non-profit
making purposes.
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CHARTERED COMPANY - a company incorporated by a charter granted by
the Crown (Royal Charter).
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CHATTEL - an item of personal property. The term is usually used to
refer only to items in procession, sometimes excluding currency.
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COMPANIES ACT - a statute regulating the formation, management, finance
and dissolution of registered companies.
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COMPANIES HOUSE - responsible for the formation of limited companies;
ensure those companies file pertinent documents on time; also has a responsibility
to make information available to the public. All limited companies must register
with Companies House.
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COMPANY LIMITED BY GUARANTEE - a company whose members do not contribute
capital to the company, unless it is necessary to do so when the company is
wound up. The amount contributed is usually nominal.
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COMPANY LIMITED BY SHARES - a company in which the limit of a member's
liability is the nominal value of the shares allotted to the member.
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COMPULSORY WINDING UP - the winding up of a company under the Insolvency
Act 1986, by the court.
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CONSOLIDATED ACCOUNTS - bringing together the results of subsidiary
companies into the group company accounts.
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CORPORATION TAX - an amount charged on a company's taxable profits.
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COUNTY COURT JUDGMENT (CCJ) - a debt that has been officially recognised
and order is made by the court for payment of an outstanding debt made against
the debtor. Will stay on official records for six years. CCJ's are 'settled'
once the debt has been paid. A CCJ that has been settled promptly may be an
indication that the company has been unable to amicably resolve a dispute with
a supplier rather than demonstrating an inability to pay. Unsettled CCJ's, however,
are a strong indication of problems.
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CREDITORS - people who are owed money by a business. The figure quoted
in a company's accounts is a snapshot at the end of the accounting period, not
an average figure. This can be misleading if, for example, the company completed
a very large purchase just before the end of the accounting period and has not
yet settled it.
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CREDITORS COMMITTEE - a committee appointed by the creditors of a company
in relation to which an Administration Order has been made, which assist the
Administrator with his duties.
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CREDITORS VOLUNTARY LIQUIDATION - this is a common reason for "winding
up," when the directors have concluded that the company cannot meet its
debts and is unable to continue trading. This allows an insolvent company to
place itself into liquidation without the need for a court order.
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CUMULATIVE PREFERENCE SHARES - the dividend on these shares is fixed
and guaranteed. Where the company is unable to pay in any one year, the dividend
accumulates. All cumulative preference shareholders must be paid before any
other shareholder.
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CURRENT ASSET - covers mainly stock, debtors and cash values.
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CURRENT LIABILITY - short-term debts covering things such as trade
creditors, short-term loans and bank overdraft.
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CURRENT RATIO - Current Asset divided by Current Liabilities. Measures
a company's cash flow and indicates their ability to meet its short-term debts.
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