Company limited by shares:
The more common company structure used for a for-profit business. The liability of the members (shareholders) is limited to the value of the shares that member holds. In practice, directors of small companies may be asked to supply creditors with personal guarantees against particular debts.
Limited liability partnership (LLP)
An LLP is a corporate entity where the partners’ liability is limited, there are no directors or shareholders, and the business is taxed like a partnership. LLPs must have at least one general partner and one limited partner. A limited partner is only liable for debts up to the amount he or she has contributed to the business. However, a general partner is liable for any debts that the business cannot pay.
Learn more about Limited Liability Partnerships.
Company limited by guarantee
A company structure in which the liability of members is limited to a nominal sum they have guaranteed to contribute if the company is wound up. Not-for-profit organisations commonly adopt this form. There are no shareholders in this type of company as there is no share capital.
Public limited company (plc)
A company that has a minimum share capital (currently at least £50,000) with a minimum 25% paid-up nominal value for each share and which is registered as a public company. Only public companies are allowed to offer shares and debentures to the public.
Community interest company (CIC)
A type of legal status for social enterprises or businesses that use their profits for the benefit of the local community or the wider public. CICs must ensure that assets and profits are used this way and not for private gain.
Shelf companies
A Shelf Company is a ready-made company that can be bought from solicitors and company registration agents. This can be the quickest and easiest way of getting a limited company up and running.
If you a looking for a shelf company, Seed Formations offer a small range of shelf companies for sale. Please contact us to learn more.
What is an Unlimited company
A company in which the shareholders have unlimited liability and are liable for all of the company’s debts.
What is a Dormant company
A company that has not traded since its incorporation or has ceased trading. A small dormant company can file dormant accounts, which do not need to include an audit report, with Companies House.