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The words on the form, explained.
Twelve terms you need in order to read a UK share filing and know whether real money changed hands. Most of the confusion in this category lives in the first four.
SH01Return of Allotment of Shares
The Companies House form a UK company must file within one month of issuing new shares. It states the number allotted, the nominal value, the currency and the amount paid per share. It is the earliest public record that a company has raised money.
AllotmentIssuing new shares
The act of creating and issuing new shares to a subscriber. An allotment is what happens when a company takes equity investment; the SH01 is the paperwork that follows it.
Nominal valueFace value of a share
The notional value assigned to a share in the company’s constitution, often £0.001 or £0.0001. It bears no relation to what the share is worth or what was paid for it, and mistaking it for the money raised is the commonest error in reading UK funding data.
Amount paidThe actual consideration
What was actually paid for each share, or in some filings the total paid for the whole allotment. This is where the money is. Multiplied by the number of shares allotted, it gives the amount raised.
Statement of capitalTotal shares in issue
A summary of all shares in issue after the allotment, included on the SH01. It looks similar to the allotment section and uses the same labels, which is why it is a frequent source of double-counting.
Option exerciseEmployees buying shares
When an employee exercises share options, the company issues shares and files an SH01 — but the price is usually at or near nominal value and no external investment has occurred. These are excluded from the register.
Bonus issueShares issued for no cash
New shares issued to existing shareholders out of reserves rather than for payment. Structurally identical to an allotment on the form, but no money moved.
PSCPerson with significant control
Anyone holding more than 25% of shares or voting rights, or otherwise controlling the company. Filed separately and publicly, and often the fastest way to see who actually backed a raise.
Confirmation statementThe annual check-in (CS01)
An annual filing confirming the company’s details are current. It shows shareholdings at a point in time but is far too slow to signal a raise.
OGLOpen Government Licence
The licence under which UK public sector information, including Companies House data, may be reused — commercially included — provided the source is attributed. It does not cover departmental logos, crests or the Royal Arms.
Structural allotmentA raise that is not a raise
Share issues arising from group reorganisations, holding-company insertions or property SPVs. Legally an allotment, but no new external money entered the business.
Companies HouseThe UK registrar
The executive agency that maintains the register of UK companies. Every limited company files with it, and almost everything filed is public.
100 companies took the money last week. Three in four never told anyone.
The next register is published Monday. Read last week’s first — there is nothing to enter and nothing to book.
