Official Statistics

Companies register activities: 2022 to 2023

Published 29 June 2023

1. Other statistics in this release

In addition to tables covering the register activity for all companies, the age of companies, corporate body types and overseas companies with a UK establishment, a range of other statistics are included in the tables that accompany this release. The following information is provided for the UK:

• register activity for public limited companies (PLCs), limited liability partnerships (LLPs), limited partnerships (LPs) and other corporate bodies
• company insolvencies and liquidations
• removals from the register
• directors and shareholders
• standard industrial classification (SIC) codes

The statistics within this release are presented based on the financial year, which runs from the beginning of April to the end of the following March.

2. Main points

• The total register size at the end of March 2023 was 5,116,743, an increase of 4.5% compared with the end of March 2022.
• There were 801,006 company incorporations in financial year ending (FYE) 2023, an increase of 6.4% compared with the previous financial year.
• In the latest financial year there were 585,807 dissolutions, an increase of 0.7% compared with FYE 2022.
• The average age of a company on the total register at the end of March 2023 was 8.6 years.
• Private limited companies have accounted for over 95% of corporate bodies on the register since FYE 2005.
• At the end of March 2023, the number of overseas companies with a UK establishment increased to 13,729 from 13,496, a 1.7% increase compared with FYE 2022.

3. Impact of coronavirus (COVID-19) measures on the register

A set of easements were announced by Companies House on 16 April 2020 in response to the coronavirus (COVID-19) pandemic and national lockdown in March 2020. The easements included the temporary pause of the strike off process (voluntary and compulsory) to give affected businesses time to update their records at Companies House and avoid being struck off the register. The impact was that compulsory dissolutions from 2 April 2020 were temporarily paused, as was the final stage of voluntary dissolutions.

On 10 September 2020 the voluntary strike off process resumed through a phased release during the remainder of September and into October. This removed companies that applied to be struck off before July 2020, including some companies that filed for dissolution before the first UK-wide COVID-19 lockdown began in March 2020. The release of paused compulsory dissolutions began on 10 October 2020.

In response to the ongoing COVID-19 pandemic, there was a second pause of the voluntary and compulsory strike off processes on 21 January 2021. Companies House temporarily paused the strike off processes so that companies and creditors would not be adversely affected by processing delays. The strike off process resumed through a phased release on 8 March 2021.

As part of the Corporate Insolvency and Governance Act, companies were granted automatic extensions to their filing deadlines. This may have affected the volume of dissolutions in 2020 and 2021.

Once a company starts the dissolution process (voluntary or compulsory), there is an opportunity for others to object to the dissolution and strike off. During the COVID-19 pandemic, the government operated several loan schemes to support companies. The government acts as a guarantor for these loans and objects to strike off proceedings if there is an outstanding:

• Bounce Back Loan
• Coronavirus Business Interruption Loan
• Coronavirus Large Business Interruption Loan
• Recovery Loan

The objection is only removed once the lender confirms that there is no longer an outstanding loan in place. This has been a contributing factor to an increase in the number of companies in the process of removal since Quarter 4 (January to March) financial year ending 2021.

4. Changes in the companies register

The total register size – including those in the process of dissolution and liquidation (471,341) – at the end of March 2023 was 5,116,743. This is an increase of 4.5% compared with the end of March 2022. The effective register, which does not include those in the process of dissolution or liquidation, at the end of March 2023 was 4,645,402.

The total register increased in size across all constituent countries of the UK – England and Wales by 4.6%, Scotland by 3.6% and Northern Ireland by 4.6%.

Figure 1: The number of companies on the total register reached 5,116,743 by the end of March 2023

Total register size by region, UK companies register, FYE 2023

Source: Companies register activities FYE 2023, Companies House

During financial year ending (FYE) 2023, there were 801,006 company incorporations, an increase of 6.4% compared with the previous financial year.

There were 585,807 dissolutions in FYE 2023, an increase of 0.7% compared with the previous financial year. The strike off process was paused for 5 weeks at the end of October 2022 and resumed in a phased approach. This may have affected the number of dissolutions during FYE 2023.

Despite fluctuations, the number of incorporations and dissolutions over time has increased at a steady rate. There were 683,206 more incorporations in FYE 2023 compared with FYE 1987, when the reporting of financial-year data began. There were 501,607 more dissolutions in FYE 2023 compared with FYE 1987.

Figure 2: Incorporations and dissolutions increased by 6.4% and 0.7%, respectively, during FYE 2023

Incorporations and dissolutions, UK companies register, 1979 to FYE 2023. “Creation of UK register” refers to the merging of the Great Britain and Northern Ireland registers

Source: Companies register activities FYE 2023, Companies House

During financial year ending (FYE) 2023 there were 22,827 insolvent liquidations, a year-on-year increase of 34.0%. In the same year, there were 10,237 members’ voluntary liquidations, a decrease of 13.4% compared with FYE 2022. These movements were observed in all constituent countries. There were 35,000 liquidations and other insolvency proceedings in total during FYE 2023, an increase of 15.4% compared with FYE 2022. For further information please see Company Insolvency Statistics Releases - GOV.UK (www.gov.uk).

A full breakdown of figures for England and Wales, Scotland, Northern Ireland and the UK as a whole is provided in Table A1 in the tables that accompany this release. Figures are provided for FYE 2014 through to FYE 2023. Separate figures for private companies and public limited companies are provided in Tables A2 and A3, respectively. Liquidation figures are provided in Table A10.

5. Historic changes in register size

Between 1979 and financial year ending (FYE) 2023, the total register has increased by 4.3 million companies, while the effective register has increased by 3.9 million companies^{[footnote 1] [footnote 2]}. During this time, the total register has seen 40 annual increases, while the effective register has increased 38 times over the same period.

In the late 2000s, it was anticipated that the register size would increase because of the introduction of Northern Ireland companies to the UK register. However, this may have been offset by the global financial crisis during the same period leading to a slight decrease in the register size overall.

There were several substantial changes to the register in the late 2000s:

• in February 2008 there was a change in the administrative system that forms the register
• a purge on the register, to remove defunct companies that had spent an extended period in the process of dissolution or liquidation, was completed in May 2009
• in October 2009, the Great Britain and Northern Ireland registers were combined to create the UK register
• the final provisions of legislative changes introduced under the Companies Act 2006 came into effect in October 2009, reducing the time taken to dissolve companies and remove them from the register

These changes in combination are likely to have contributed to a sharp increase in the number of dissolutions between FYE 2009 and FYE 2011. This may in turn have had an impact on the overall sizes of the total and effective registers. Since FYE 2011, both registers have continued to increase steadily in size.

Between FYE 2014 and FYE 2023, the average annual growth rate for the total and effective registers was 5.2% and 5.1%, respectively. During FYE 2023, the growth rates of the total and effective registers increased to 4.5% and 3.2%, respectively, from 3.8% and 2.0%, respectively, during FYE 2022.

Figure 3: The total and effective register sizes increased by 4.5% and 3.2%, respectively, during FYE 2023

Total and effective register size, UK companies register, 1979 to FYE 2023.“Creation of UK register” refers to the merging of the Great Britain and Northern Ireland registers

Source: Companies register activities FYE 2023, Companies House

Table A8, in the tables that accompany this publication shows the total and effective register sizes from 1939 to FYE 2023, as well as the annual number of incorporations, dissolutions and liquidations.

6. Age of companies on the register

The average age of UK companies on the total register at the end of financial year ending (FYE) 2023 was 8.6 years, consistent with the previous financial year. Within both the total and effective registers for FYE 2023, approximately half of the companies were aged under five years (50.0% and 49.9%, respectively). Over two-thirds (71.8% for the total register and 71.2% for the effective register) of companies were under 10 years old, while just over one in ten companies were aged over 20 years on both the total and effective registers (10.7% and 10.9%, respectively).

Figure 4: Over 35% of companies on the total register were 1 to 4 years old at the end of FYE 2023

Age of companies on the UK companies register, FYE 2023

Source: Companies register activities FYE 2023, Companies House

Historically, the average age of a company has always been relatively young. The average age of a company gradually declined from 10.7 years in FYE 2000 to 8.1 years in FYE 2007. Between FYE 2009 and FYE 2011, the average age of a company fluctuated in response to changes in the numbers of incorporations, dissolutions and overall register size because of the addition of Northern Ireland to the Great Britain register to create the UK register. Between FYE 2014 and FYE 2023, the average age of a company has stabilised and remained roughly consistent over the period.

Since FYE 2000, the decline in the average age of a company could be because of the general increasing trend in the number of incorporations and dissolutions. It is likely that the increasing number of incorporations has led to a greater number of younger companies on the register, which has served to lower the average age of companies overall. The average age of a dissolved or closed company has declined from 5.4 years in FYE 2016 to 4.9 years in FYE 2023.

Figure 5: The average age of a company on the total register was 8.6 years at the end of FYE 2023

Average age of a company on the UK companies register, FYE 2000 to FYE 2023

Source: Companies register activities FYE 2023, Companies House

Table A5, in the tables that accompany this release shows the age profile of companies on the total and effective registers at 31 March 2023, as well as those in liquidation or the course of dissolution. The table also shows the average age of a company from FYE 2000 to FYE 2023. Table A11 shows the average age of dissolved and closed companies from FYE 2014 to FYE 2023, while Table C3 shows average ages at closure and dissolution across all corporate body types.

7. Types of corporate body on the register

There are 29 types of corporate body held on the register. These include a number of corporate body types in addition to those companies covered by the Companies Act 2006.

Each corporate body type has a distinct set of requirements, as outlined in various pieces of legislation and royal acts. This information is provided to Companies House. Further information on each company type can be found on the Companies House pages of the GOV.UK website.

From financial year ending (FYE) 2005, private limited companies have consistently accounted for over 95% of all corporate body types. During this time, the three corporate body types accounting for the highest proportion of all corporate bodies have remained unchanged. These are private limited companies, limited partnerships and limited liability partnerships (LLPs). These three corporate body types have consistently accounted for over 98% of all corporate body types.

Table 1: Private limited companies accounted for over 95% of all corporate bodies on the total register at the end of March 2023

Top 10 corporate body types on the UK companies register, FYE 2023

Corporate body type	Number	Percentage of all corporate bodies
Private Limited	4,929,778	92.7
Private Limited by Guarantee/No Share Capital	137,335	2.6
Limited Partnership	57,537	1.1
Limited Liability Partnership	52,627	1.0
Private Limited by Guarantee/No Share Capital (Use of Limited Exemption)	39,459	0.7
Charitable Incorporated Organisation	31,542	0.6
Overseas Entity	27,411	0.5
Overseas Company	14,069	0.3
Registered Society	10,619	0.2
Scottish charitable incorporated organisation	5,960	0.1
Other corporate body types	13,411	0.3
Total of corporate body types	5,319,748	100.0

Source: Companies register activities FYE 2023, Companies House

Although the composition of the register overall has remained stable in recent years, there have been some minor fluctuations within the individual company types.

Charitable Incorporated Organisations (CIOs) were introduced in late 2017. The Charity Commission allowed charitable companies to convert to CIOs. This is an incorporated structure designed for charities and needs to be registered with the Charity Commission. For FYE 2023, there were 31,542 CIOs in England, Wales and Northern Ireland (0.6% of all corporate bodies) and 5,960 Scottish CIOs (0.1% of all corporate bodies). Since FYE 2018, the number of CIOs has increased, with average annual growth rates in England, Wales and Northern Ireland of 18.2%, and 12.5% in Scotland.

Limited liability partnerships (LLPs) were introduced in April 2001. These gradually increased in number to make up 1.8% of the register in FYE 2013 and FYE 2014. The proportion of LLPs has since gradually declined, and they now account for 1.0% of the register.

Limited partnerships have grown from 0.5% of the register at the end of 2004 to 1.1% at the end of March 2023. Scottish limited partnerships make up the majority of UK limited partnerships on the register, primarily because of high numbers of incorporations between FYE 2013 and FYE 2018.

Public limited companies have been declining in number since 2008. They now make up only 0.1% of the register.

Because of the UK’s exit from the European Union, the majority of European Economic Interest Groupings (EEIGs) and Societas Europaea (SE) companies became part of the UK Economic Interest Grouping (UKEIG) and UK Societas (UKS), respectively.

Although they are small, the above changes show the subtle ways in which the composition of other corporate bodies on the register varies over time.

Table C1, in the tables that accompany this publication displays numbers and percentages of all corporate body types on the register from FYE 2014 to FYE 2023. Further information on public limited companies, limited partnerships and limited liability partnerships is available in Tables A3, B2 and B4, respectively.

8. Overseas companies with a UK establishment

At the end of March 2023, there were 13,729 overseas companies with a UK establishment on the total register, compared with 13,496 at the end of March 2022. This represents a 1.7% increase compared with financial year ending (FYE) 2022. Overseas companies are incorporated outside of the UK but have a UK establishment (such as a place of business or branch) through which they carry out their business.

At the end of March 2023, the largest share of overseas companies on the register originated in the United States. This accounted for 2,626 (19.1%) of all overseas companies. The second and third largest shares of overseas companies originated from the Channel Islands and Ireland, accounting for 1,627 (11.9%) and 1,240 (9.0%), respectively. The Channel Islands overtook Ireland as the second-highest originating country in FYE 2022, a position Ireland had consistently held since FYE 2011.

In FYE 2023, the region with the largest share of overseas companies was Europe, with 4,487 (32.7%). The regions with the second and third largest shares of overseas companies were the Americas and the UK Crown Dependencies with 3,039 (22.1%) and 2,184 (15.9%), respectively. Net increases in the number of overseas companies on the register were seen in all regions except for the UK Overseas Territories, which decreased by 1.9% from 797 in FYE 2022 to 782 in FYE 2023.

Figure 6: 19.1% of all overseas companies on the UK register originated in the United States at the end of March 2023

Top 10 countries of origin for overseas companies with a UK establishment, UK companies register, FYE 2023

Source: Companies register activities FYE 2023, Companies House

There were 941 new registrations for overseas companies in FYE 2023. Of these, 203 (21.6%) originated in the Channel Islands, 94 (10.0%) in Ireland, 88 in the United States (9.4%) and 45 (4.8%) in the Netherlands.

By region, the highest number of new registrations of overseas companies originated from Europe, with 323 (34.3%) registrations. The second and third highest numbers of new registrations originated from the UK Crown Dependencies and Asia, with 227 (24.1%) and 129 (13.7%) new registrations of overseas companies, respectively.

The top 10 originating countries for new registrations of overseas companies with a UK establishment in FYE 2023 are mostly consistent with those of the previous financial year. However, the United Arab Emirates has replaced Australia, with 29 new registrations from the United Arab Emirates compared with 11 from Australia. These top 10 originating countries accounted for 64.2% of all overseas companies on the total register at the end of March 2023.

Table 2: Over 20% of new overseas company registrations originated in the Channel Islands in FYE 2023

Top 10 countries of origin for new overseas company registrations, UK companies register, FYE 2023

Country of origin	New registrations	Percentage of all registrations
Channel Islands	203	21.6
Ireland	94	10.0
United States	88	9.4
Netherlands	45	4.8
Germany	41	4.4
British Virgin Islands	39	4.1
United Arab Emirates	29	3.1
France	25	2.7
Isle of Man	24	2.6
Italy	16	1.7
Other countries of origin	337	35.8
Total	941	100.0

Source: Companies register activities FYE 2023, Companies House

The total number of overseas companies with a UK establishment on the register from FYE 2014 to FYE 2023, as well as the number of new registrations during FYE 2023, are provided in Table B1.

9. About the data

The figures in this release provide information about the population of companies and corporate bodies in the UK. Companies and corporate bodies are specific legal forms of business that are registered at Companies House. Companies form a subset of corporate bodies and are formed under the Companies Act 2006. Companies and corporate bodies are registered at Companies House regardless of whether they go on to actively trade. For more information on companies covered by the Companies Act 2006 and corporate bodies, see Definitions to accompany statistical releases from Companies House. This document also explains the incorporation, dissolution and restoration processes.

The statistics in this release include:

• the total number of registered companies
• the number of companies incorporated
• the number of companies dissolved
• historic changes in the size of the companies register
• age of companies on the register
• types of corporate body on the register
• overseas companies with a UK establishment
• the register of overseas entities

The release focuses on the headline messages for the UK. Figures for the constituent countries are contained in the tables that accompany the release. These documents also include figures for public limited companies (PLCs), limited liability partnerships (LLPs), limited partnerships (LPs) and other corporate body types.

This release complements the quarterly “Incorporated companies in the UK” release by providing information on both companies to which the Companies Act 2006 relates, and on wider corporate body types. Sections 4 to 6 of this release focus specifically on companies, while sections 7 and 8 cover all corporate body types. Some figures in this release may differ to those provided in the quarterly “Incorporated companies in the UK” publications because of the timing of the analysis. Analyses for the figures in this release are undertaken later in the year, allowing more information to be processed and added to the register.

A range of management information tables are due to be published later in the summer, providing the following information:

• civil penalties for late filing of annual accounts
• disqualification orders notified to the Secretary of State in the UK
• prosecutions by the department under the Companies Act 2006
• number of documents filed at Companies House
• annual accounts registered at Companies House by accounts type

10. Glossary

Definitions for the main terms used in Companies House official statistics publications are available in a separate document. See Definitions to accompany statistical releases from Companies House.

11. Strengths and limitations

Companies House statistics are used extensively by the government, the public, public bodies and businesses. For example, they are used by:

• government in understanding the likely impact of policy changes and monitoring the impact of economic changes on companies
• businesses in understanding their market share and planning marketing strategies
• banks in developing an understanding of their customer base
• foreign firms in making UK location decisions
• academics to inform research into businesses at local and national level
• a range of public bodies in decision-making and evaluating business-related policies

Quality

Information about the quality of Companies House official statistics is provided in a separate document. See Quality information to accompany statistical releases from Companies House. This document allows users to decide if the data are of sufficient quality for their intended use. The information is structured in terms of the quality dimensions of the European Statistical System. The document also provides information on how these statistics relate to other business statistics.

Revisions to these statistics

Revisions to these statistics will be mainly because of changes in methodologies and source data. The statistics are derived from administrative data, and changes to the underlying methods will cause revisions. These include changes in statistical methods, definitions, classifications and geographic coverage.

Although Companies House has robust procedures in place to minimise errors in the methods used to create these statistics, errors may occasionally occur. If errors are found after the publication, their impact will be assessed. If the changes are significant, a correction will be issued as soon as possible. Minor corrections will be included in the next planned release.

Any misleading or incorrect figures will be amended, and a footnote added to show that the figures have been corrected. This footnote will also explain the nature and reason for the correction.

Consultation

Results of the most recent consultation on these official statistics are published on GOV.UK.

12. Future releases

Annual statistics for the financial year ending 2024 will be published on 27 June 2024. Statistics for the period 1 April to 30 June 2023 will be published on 27 July 2023. The publication dates have been announced on the GOV.UK release calendar.

If you have a question about any of these tables or Companies House statistics in general, email statistics@companieshouse.gov.uk.

13. Related links

Statistics at Companies House

Reports are released regularly, and annual statistics are produced by Companies House and published on GOV.UK.

Open data products at Companies House

Data is updated regularly, and information about the open data products that Companies House offers is available on GOV.UK.

Find and update company information

The register is updated regularly, and company information can be found and updated on GOV.UK. Advanced search capabilities are also available.

Companies House API overview

The service is updated regularly with free, fully-documented API, providing access to real-time updates on companies.

API support

The service is updated regularly. API support is provided through a developer forum.

1. Statistics for 1979 to 2008 are for Great Britain. In October 2009, the Northern Ireland register merged with the register for Great Britain to create the UK register. Figures from 2009/10 onwards are for the UK as a whole. ↩

2. Figures for 1979 to 1986 are for the calendar year 1 January to 31 December. Those for 1986/87 to 2022/23 are for the financial year 1 April to 31 March. ↩