U.K. Professional Clients
U.K. Private Customers
For start to registry’s a-UK’s new Non-Profit’s Companies꞉ our fees for set-up a “Company Limited by Guarantee” starts from £39.49, and your new non-for profit’s business organisations is can be registered in the UK, London in one-business day․ Fast and Efficient a “Non-For-Profit Companies” Registration’s service supported by our experienced consultants․ NO hidden fees․ Post incorporation’s, annual compliance fill-out and tax presentation support and services are also available upon request․ Forming online a “Non-profit's Business” digital, we do ‘Non-Profits Corporation’ on Web-Filling Formation’s services, and it takes 1-hour digitally to set-out a Not-For-Profit Entity formation’s․ To order to form online Forming a Nonprofit’s Corporation with for a non-profit corporation’s do incorporation’s agent in London to set-by Organisations Registries’s simple and easy digital․
Apply to Registry a “Not-For-Profit Organisation” online use the Web-Filling Registering a non-profit’s corporation experts fills non-profits company’s registration․ When filling the formation document online, it’s critical to include the required clauses to ensure your non-for-profit will later qualify for tax-exempt status․ Forming a “Non-Profit Business“ formed and filled as the “Company’s Limited by Guarantee’s” not for profits filling On-Line Registry Entitled Agency do registrations no-profits companies in London․ How much does it cost to be get registered as a “Company Limited-by-Guarantee“? The incorporation’s price is starts from just⁚ ￡39.49 only!
We can fill out a private company limited by guarantee- registry it with Registrar of Companies and rules on directors, shares, articles of association and telling on HMRC about it․ If you’ve any inquiry then please get in touch with us! E-Mail꞉ firstname.lastname@example.org․ We aim to reply to all emails within 24 hours․ If you are rushing please feel-FREE to call us꞉ between 9⁚30am-6⁚00pm Monday to Friday by telephoning + 44 (0) 207.935.5171 or (0) 330.808.0089 (national rates) and chat-further․
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ONE-TIME-OFF FILL-IN FEE
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YEARLY FEE IS FROM - £75
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That UK company limited by guarantee registration’s proposal is for international consumers that is comes with the domiciled business-address in London for-one year. The secretarial compliance service is for one year is do also included.
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A private company limited by guarantee is a type of company is normally set up by non-proﬁt making organisations like NGO’s charities in the UK. A company limited by guarantee is owned by individuals and/or corporate bodies known as ‘guarantors’, guarantors do not have any shares in the company. A UK private company limited by guarantee is a type of a company is normally setup by non-proﬁt making organizations like charities, clubs and associations.
A company limited by guarantee (LBG) is usually set up for a not-for-proﬁt organisation which requires its own legal identity such as charities registry at in England. In a company limited by guarantee, there are no shareholders, but the company is must to have a one or more members and one or more guarantors. Private company limited by guarantee, such type of a company does not have a share capital and its members are guarantors rather then shareholders.
A private company limited by guarantee does not have any shares or shareholders, like is the more common limited by shares company, but is ow by guarantors, who agreed to pay a set of amount of money towards company debts. Limited liability means that the owners are not fully liable for the company’s debts and obligations if the company is cannot do meet them.
Limited by guarantee is a type of company where members (guarantors) give a guarantee to pay a certain amount in the event of the company being bankrupt. A company limited by guarantee is a not-for-proﬁt business is set up to do serve social, charitable, community-based or other non-commercial business’s. That means the company is a legally separate from the people who run it, it has a separate ﬁnances from your personal ones, it has guarantors and a ‘guaranteed amount’ invests proﬁts it makes back into the company.
A private company limited by guarantee is a type of company that is owned by its members, but does not have shares. Instead, members agree to pay a certain amount of money, known as the guarantee amount, if the company is wound up and its assets are insuﬃcient to pay its debts. A company limited by guarantee is a legally distinct legal entity from its owners and is do responsible for its own debts.
Private companies limited by guarantee are often used for non-proﬁt organizations, such as charities, clubs, and associations. However, they can also be used for proﬁt-making businesses. A company limited by guarantee is generally a structure used is by not-for-proﬁt organizations (NGO’s), social enterprises or by the charities. The main reason is why you’d set-up a company limited by guarantee, is to protect the organizers from a personal liability for the company’s debts.
By registering a company limited by guarantee, you are agree essentially creation a separate legal entity, which can enter enter into leases, hold property and even employ people in its own name. Companies limited by guarantee provide a personal ﬁnancial protection for to business owners and are ideal is for non-proﬁt business organizations in the UK.
A private company limited by guarantee is a type of company that does not have shares or shareholders, but members instead. Members of a company limited by guarantee agree to pay a certain amount of money, known as the guaranteed amount, towards the company’s debts if it becomes insolvent. The guaranteed amount is usually a nominal sum, such as £1.
Private companies limited by guarantee are often used by non-proﬁt organisations, such as charities, clubs, and associations. They can also be used by businesses that want to limit the liability of their owners. a private company limited by guarantee is a separate legal entity from its owners and therefore is responsible for it is own debts. The limited company’s guarantors have a protection over their personal ﬁnances liability. They can only to be responsible for paying the guarantee company’s debts upto the amount of their personal guarantees.
You will also need to prepare a Memorandum of Association (MoA) and Articles of Association (AoA) for your company. These documents are do set out the rules for how your company will be run. You can make your Memorandum of Association and Articles of Association during ﬁling our simple online application form at on our web-site. A company limited by guarantee is may take the form of an association, subscription-based membership organization or other a social group.
Once your company is registered, you will need to:
Here are some additional things to keep in mind when setting up a private company limited by guarantee in the UK:
If you are unsure about any aspect of setting up a private company limited by guarantee, it is advisable to seek professional advice from our business advisors or our accountant.
Private companies limited by guarantee are popular for non-proﬁt organizations because they oﬀer a number of advantages, including:
There are a number of companies, like Coddan CPM, that are oﬀer services to help you to set up a private company limited by guarantee online. These companies can help you with all aspects of the process, from choosing a company name and drafting the constitution to registering your company with on Companies House.
Here are some of the things to keep in mind when setting up a private company limited by guarantee online:
Once your company is registered, you will need to comply with all of the relevant company law requirements. This includes keeping up-to-date records and ﬁling annual returns with Companies House.
Here are some of the beneﬁts of setting up a private company limited by guarantee electronically:
There are many beneﬁts to setting up and registering a company limited by guarantee, including:
In addition to these general beneﬁts, there are a number of speciﬁc advantages to setting up and registering a company limited by guarantee for certain types of organisations. For example, charities must be registered as companies limited by guarantee in order to be eligible for certain tax beneﬁts and government funding.
Overall, setting up and registering a company limited by guarantee can be a very beneﬁcial way to structure a non-proﬁt organisation. It can provide a number of legal, ﬁnancial, and practical advantages.
Here are some examples of organisations that may beneﬁt from setting up and registering as a company limited by guarantee:
If you are considering setting up a non-proﬁt organisation, it is important to seek professional advice to ensure that you choose the most appropriate legal structure for your needs.
Yes, Coddan CPM is can draft private company limited by guarantee constitutional documents for you. We are a specialist corporate law firm that has a wealth of experience in drafting and advising on all types of corporate documents. We can do help you to create a set of constitutional documents that are tailored to your specific needs and that meet all of the relevant legal requirements.
To get started, you do will need is to provide Coddan CPM with some basic information about your company, such as the name of the company, the purpose of the company, and the names of the directors. We will also need to know whether you want the company to be a charity or not. Once we will have this information, we will be able to start drafting the constitutional documents for your company.
The constitutional documents for a private company limited by guarantee will typically include the following:
Coddan CPM is will to be able to help you to draft all of these documents and to ensure that they are legally compliant. We can also do advise you on the best way is to structure your company and on any other corporate law matters that you may have. If you are interested in getting Coddan CPM to draft private company limited by guarantee constitutional documents for you, you can contact us on our website or by calling us at on +44 (0) 207.935.5171.
Yes, Coddan CPM can supply a statutory registers for a private company limited by guarantee for you. We can do offer a range of company formation and post-incorporation services, including the provision of statutory registers.
The statutory registers that a private company limited by guarantee is required to keep are:
Coddan CPM is can do supply you with a set of statutory registers that comply with all of the relevant legal requirements. We can also do provide you with guidance is on how to maintain your statutory registers up to date. To order statutory registers from Coddan CPM, you can visit their website or contact them by phone or email. They will need some information about your company, such as its name, registered number, and the number of members and directors.
Once you have placed your order, Coddan CPM is will do send you a set of statutory registers in the post. The registers will be pre-printed with your company’s details and will be ready for you to start using straight away. Coddan CPM also offers a range of other services that can be helpful for private companies limited by guarantee, such as annual accounts preparation and filing, and company secretarial services.
The quickest, easiest and cheapest way to order a certiﬁcate is will to go online using the our secure online does ordering service Registry records do Registrar’s․ If you is will do to is take use a one of our Registrar’s Registered Oﬃce’ Address to get registry’s your guarantee company’s we will can do keep its records there․ We will can to do to get your guarantee company’s registry with Registrar of Companies Registries records done all over online via Internet complete․ You is can do registry your beneﬁcial ownership by do its set out forth with Registrars of Companies records is when you will do registries your guarantee company’s with us․ We can is do registry’s of any type of a guarantee company’s registries in the UK, as soon as registrars process is will do completed, we can is do open your bank account․
The information you will ﬁnd out on Britain’s National registrations records, the information you will do need registry’s with to order registration records set forth forthwith․ In the UK there are 2 ways to do get have an NPO’s put up in the Registry of Companies Registrar records with online process or sets forth made by post․ In the case if you do need to have a fast track formation Guarantee’s Company registers set up, is all you have need to do is to complete ﬁling in app to get be registered. We do get registry a Guarantee Company’s in just 1 working hour, do use on the same day a Guarantee Company formation when you do need to have a faster formation. We did always have made the complete full process to open of a Guarantee Company and every time made it well done right, and you can do it right now today’s․ Let’s get use on the simplify made organisational 1 form application on the one simpliﬁed task done to do to start if you do need to registry a Guarantee Company’s․ The procedures for to get registers a Britain’s Company’s in online ﬁll in processing will do ﬁnally done required by Registry of Companies consent and approval․
All notepaper of the guarantee company must show its full name as stated on its certiﬁcate of incorporation, its registered oﬃce address, its business address (if its diﬀerent)․ Companies limited by guarantee provide its personal ﬁnancial protection to its business owners and its ideal for “not-for-proﬁt” business organisations․ A guarantee company isn’t normally the right choice for a trade business, as there will be limited working capital because its doesn’t have the share capital․ On the step-by-step guide will do explains the process, from choose of a name to prepare your documents and get to do a one registering of your guarantee company’s complete․
Use our job to work for a Public Interest works at an oﬃcial formal ﬁll out in to Registry a Non-Proﬁt Business Company’s as the Companies Formation Agency in one working day․ Fill in to registers “UK’s Non-Proﬁt Business” organisation online use Web-Filling non-proﬁt company’s formation application for incorporation’s UK not-proﬁtable companies․ To Registers a Nonproﬁt Corporation, use the UK a non-proﬁt business ﬁlls incorporation ﬁll out form and apply to registry online it’s for faster ﬁled service (in London)․ Use ﬁling non-proﬁt corporation application for registration’s not proﬁtable business and applying Registrations Nonproﬁt Companies online ﬁled by formation entitled agency help․ When ﬁling the formation document online, it’s critical to include the required clauses to ensure your nonproﬁt organisation will qualify for a tax-exempt status․ Forming nonproﬁt business formed and ﬁled as the company’s limited by guarantee’s not for proﬁts ﬁling on-line formation agents registrations not-for-proﬁts companies in London․
You can complete and dill-out our interactive web-forms applications on to your computer screen or on mobile devices and to submit for the on-line registration․ With the Coddan CPM, it is simple to registries a Company Limited by Guarantee’s in the United Kingdom․ Only one person is needed to form the non-proﬁt company in the U․K‥ If you require a company limited by guarantee, we can help with all your needs by providing registered oﬃce address in London, and certify documents by an apostille stamp․ We do not use the “Standard Model Articles”, we registering non-proﬁtable companies by using our own special drafted Articles of Association․ Business formation documents are the root key pieces of documentation issued after the eﬀectual registration of a new limited company on-line․
When you incorporate a non-proﬁt organization, you receive the same beneﬁts as a “Limited Company”, as well as a host of other business and tax advantages․ As a “Company Limited by Guarantee”, your business is able to trade, hold shares of other proﬁtable limited companies and re-sell, but members have minimized liability for debts, so they increase the protection of their personal assets․ It should not be used by proﬁt making groups, not-proﬁt, companies, etc․ which can be incorporated online using - Incorporating Not-For-Proﬁt Business’s Agents․ Once “NPO Business Corporation” Incorporation’s be approved, you may apply for a “Certiﬁcate of Incorporation” and “Certiﬁcate to Commence Business” in London․
A non-proﬁt ﬁrm is a suitable structure for a variety of businesses - from clubs to professional associations - particularly those where the members are not actively involved on a daily basis․ It is a flexible option with formal organization, where members can leave as and when they need to․ If you need an assistance with a “Non-Proﬁt Company” Creation in England, Wales, Scotland or in Northern Ireland, you can also speak to our advisors between 9․30am-6․00pm Monday to Friday by telephoning + (0) 207․935․5171 or + (0) 330․808․0089 (national rates)․
For to register Your “Business Non-Proﬁt Corporation” in the UK on Internet by the formal registrar or authenticated by for to the Registrar’s of Companies oﬃcial seal․ While we do have tried to include the majority of customer new “Limited by Guarantees Company” establishment requirements identiﬁed by our many years of managing the needs of both British and non-UK based residents, there may be requirements that you need in addition to these․ Often these are tax, additional corporate or ownership documents required in your Home-country to avoid any double taxation risks․ If you do wish to have yours a non-for-proﬁt business to has been is based in the UK to get registered - we can do it for you - SIMPLE and EASY․
** For “exclusively” tailored “UK Company Limited by Guarantee Formation’s” (registered oﬃce address service in London or Scotland, VAT registration, service address, SAIL address, director service address, and secretary, etc․), please contact us to confer your requirements & obtain the estimate of costs․ Many internationals’ clients and UK businesses are do prefer to have their UK non-proﬁt’s business corporation entities are quick and fast to be incorporated base in London online․ Your UK’ an appropriate Formal Business Address is must to be ﬁled in and a duly-registered on the Registrar of Companies records and with on at HMRC report․
A company limited by guarantee is an alternative way to structure your business and has many advantages over a self-employed or traditional not-for-proﬁt if used correctly․ Therefore, if you are thinking of UK non-proﬁt ﬁrm registration, get in touch with Coddan for help and advice that saves you money․ A new company registrations is not complex to setting up than a none-proﬁt, and there are additional costs involved, so it might not be the most eﬀective structure for everyone․ However, if you are thinking of a Non-Proﬁt Company Establishment and get help, and then get in touch with Coddan for expert advice․ We do provide the full line of professional helpline service and the complete a top expert customer support of your incorporate business formation on on-web on-line service․ If you need an assistance, you can also speak to our business advisors between 9․30am-6․00pm Monday to Friday by telephoning + (0) 207․935․5171 or + (0) 330․808․0089 (national rates)․
You is can do registry your beneﬁcial ownership by do its set out forth with Registrars of Companies records is when you will is do registries your guarantee company’s with us․ What type of organisations should register as a company limited by guarantee? This type of business entity does not have shareholders; instead it has has members who act as guarantors․ However, there is one crucial protection for those involved꞉ if the organisation fails and goes on to run up debts, the members can’t be held personally liable․ Amply for Web-Filing Non-Proﬁt’s Business Corporation and use non-proﬁts companies ﬁll up an application organisation online ﬁled not for proﬁt set up and create․ Our Web-Incorporation Service is not suitable for to bulk use, for to the incorporation of a Non-Proﬁt Corporation limited by shares, adopting a bespoke Model Articles․
This explains why non-proﬁtable organisation is particularly valuable for “Non-Commercial Associations” which aren’t seeking to make money․ If the group’s purpose is charitable or community-focused, or it exists to provide social beneﬁt, then it will be seeking to reinvest any surplus income, rather than distribute it in the form of proﬁt․ For that reason, it would be very unfair if its members had to shoulder additional ﬁnancial responsibilities․ At the end of an ﬁnancial period, Non-Proﬁt Companies must make of a tax return and NPO’s IXBRL Accounts to HMRC full do on set forth․At the end of an ﬁnancial period, not-for-proﬁt must make of a tax return and NPO’s IXBRL Accounts to HMRC full do on set forth․
Guarantee Company Creation will do beneﬁt a wide range of clubs, co-operatives, social enterprises, community projects, membership organisations and charities․ This type of legal structure is for the group of people and helps to protect its assets․ The members are involved agree how much they would be willing to contribute towards any debts - and that is the full extent of their liability․ Often the amount guaranteed is nominal, perhaps a couple of pounds per person․ By using our simple understanding and rapid on a web-based applications use for Your Guarantee’s Company Registration, for at Registry of British an LTD Companies․ All Non-Proﬁt Companies Limited by Guarantee, whether they’ve trade or not, will must deliver its annual accounts and its a 1 conﬁrmation statement to Companies Registry on each year․
To become a “nonproﬁt’s-company”, register for not-for-proﬁts corporation ﬁling form online and apply for registering corporate business entity in the UK registered organisation․ Start to incorporate forming a non-proﬁt corporation online, incorporation not-for-proﬁt’s corporate entity is simple as NPO corporations being get incorporated in London․ Start set up non-proﬁt’s corporation form for forming nonproﬁt company require e-ﬁling forms at business entity ﬁling on agent at low incorporation ﬁling formation fees․
Incorporate a limited by guaranteed company by ﬁling the required form and documents with e-Registry of Joint Stock Companies Registrar's in the UK. A company limited by guarantee will usually have a constitution that sets out speciﬁc rules governing the internal aﬀairs of the company limited by a guarantee. A not-for-proﬁt corporation may be formed under the Not-for-Proﬁt Corporation Law as a "charitable corporation" or a "non-charitable corporation".
A private company limited by guarantee is an alternative legal structure mainly used by non-proﬁt organisations․ The types of organisations that are most likely to be private companies limited by guarantee include sports clubs, membership bodies, student unions, social enterprises and workers’ cooperatives․ Applying for “Non-Proﬁts Organizations” to use register ﬁlings service in the UK, London to ﬁle a basic NPA non-proﬁt business association registering NPA’s submission ﬁled․ You is can do registry of your beneﬁcial ownership by do its set up forth with on Registrars of Companies records is when you will is do registries of your a guarantee company’s․
The major diﬀerence between private companies limited by guarantee and standard limited companies is that there is no share capital and no shareholders․ Instead there are guarantors․ These guarantors are normally liable for a small amount should the company wind up for any reason․ This structure acts as a protection to the people running the company as they’re not held personally responsible for the company’s debts․
First up is limited liability — yes, you can do by greatly reduce your personal ﬁnancial risk if you have done trade through of as a limited company is sets forth register․ The “shareholders” in private companies limited by guarantee are called “members”․ Members attend general meetings and vote․ Members can appoint or remove directors․ Directors carry out the wishes of the members meaning than the members are ultimately the people who control the company․ To get NPA’s gain business apply for use online NPA business ﬁlings to easy ﬁle non-proﬁts association submission registry applications for basic ﬁled registration․
A private company limited by guarantee is not forbidden from distributing any proﬁts it makes but, in most cases, a company’s own articles of association prevent it from doing so․ Many articles also stop payments of salaries and fees to the directors․ Registering a Limited Company or non-for-commercial business is easy using our web-filling form to form a limited company online at on for UK’s Companies Registrar’s Registry․ For set out forth yourself as a Non-For-Proﬁt Corporation’s register and set up on the on-line approved forms sets forth with on Registrar of Companies forthwith for entry‥
Not for proﬁt organisations, such as charities, museums and environmental groups, reinvest any revenues back into the business to meet their objectives or mission statement, rather than dividing it up as proﬁt for shareholders․ Each not for proﬁt in the UK is a company limited by guarantee, a status which allows for greater transparency and credibility - you’re able to open up your own company bank account once you’re registered, for example․ If you’re interested in company limited by guarantee registration for your non-proﬁt organisation, please contact the friendly team at Coddan today․
Registering a company limited by guarantee is simple; there are few requirements․ All you need is a company name, an address, the name of a director and a guarantor, three trustees and one or more member․ You’ll also require a “Memorandum of Association” and “Articles of Association”, which act as rules, Governing is How the not-for-profit organisation is run and what happens to any revenue generated, for example․ Once you have all of the above, there’s no reason why you can’t get started on registering as a “Company-Limited-by-Guarantee” right away․
At Coddan, we can help with ‘Company Limited by Guarantee’ Formation, providing your non-proﬁt organisation with a comprehensive service, so you can keep promoting your cause in the hope of making a diﬀerence․ To inquire about our non-proﬁt companies formation packages, including our post-formation service, which covers you in the long-term, please call 0207 935 5171 or e-mail info@coddan․co․uk today․ Aﬀordable to list specialists not-for-proﬁts companies registered for decades, use our experts consultants to ﬁle and register non-proﬁt business expertise․ Companies are Registry within at a 1 working hour in 1 a simple steps, build of your online web-presence with gain the .london or .co.uk a domain name for 2 year’s․
Our team of tax-advisors and “Non-Proﬁt Business Entities” incorporation consultants will be pleased to assist with your inquiries related to establishing & maintaining the companies limited by guarantee or creating more complex corporate non-proﬁt associations & the tax-savings non-commercial or charitable business structures․
On our web-site, you will ﬁnd the number of useful tips and legal information, downloadable documents, which may help you to learn what to take into consideration when deciding among private companies limited by guarantee formation, setting-up of non-proﬁt ﬁrms, registering as charitable’ companies, establishing a RTM companies and other business structures, such as CIC companies limited by guarantee․ Succeed apply to use for register non-proﬁtable business companies agent to eﬀective ﬁle to register non-proﬁts business application ﬁled electronic in London․
Our great value the UK non-proﬁt company formation price starts from just ￡39․49 only, we consistently provide the quality charitable business registration assistance & the best non-proﬁt association incorporation service, to satisfy our valued UK and non-UK customers - you will receive the personalized telephone & e-mail help that you really need!
There is no requirement for the oﬃcers of your non-proﬁt company to be the UK citizens or residents, or for them to hold the valid work-permits․ Owning, or being an oﬃcer of the UK non-proﬁt company does not, however, grant you any rights to live or work in the UK if you are a foreign national․ A company limited by guarantee must have at least one director, one member, and may have a secretary․
Coddan’ Non-Proﬁt Organisation Formation phone lines provide the conﬁdential companies incorporation advice, non-proﬁt society creation support, and the access to the pastoral care for legal business consultants & London based certiﬁed accountants․ Register and ﬁle UK non-proﬁts company’s information online ﬁled at on electronic ﬁlling incorporation and get non-proﬁt business companies documents ﬁlings․ Search our online records, learn about our searching and retrieval services, view our current fees for registration, recordation, and for other corporate services․
Some of our help lines can also be contacted via the phone, or via the online help advisors, or even by an e-mail and by fax․ Our team of friendly companies’ formation staﬀ (who are all convincing specialists) is on hand to ensure that your move goes through as smoothly and swiftly as it possible․
Confidential charitable business companies formation advice & support services have been provided from our premises at 120 Baker Street, in London․ We are committed to providing the comprehensive range of non-proﬁt entities incorporation services and ensure that we oﬀer the legal companies limited by guarantee registration services that blend professionalism with the friendly and informal approach․
A company limited by guarantee normally registered for the non-profit making functions․ The CLG (company limited by guarantee) has no share capital․ A company limited by guarantee has members, rather than shareholders, the members of the company guarantee/undertake to contribute a predetermined sum to the liabilities of the company, which becomes due in the event of the company being wound-up․ It cannot distribute its profits to its members, and is therefore eligible to apply for charitable status if necessary․
Guarantee companies are useful for non-profit organisations that require corporate status․ This means that its profits cannot not distribute to its members but are retained to be used for the purposes (objects) of the guarantee company․ Register ‘NGO Company’s’ society at low-price and realistic fees you can start Registering NGO’s Business Society’s and on simple NGO corporate filing form online․
Of course, this does not mean that the guarantee company cannot make the profit, as indeed it is almost paramount that it can and does so․ The companies limited by guarantee normally used for non-profit making or charitable causes, the memorandum and articles of association states the general objects of the company, prohibit the payment of dividends to members and if the company is wound up all assets must be transferred to another organisation with similar objects or to a charity․
In British company law, a company limited by guarantee is an alternative type of corporation used primarily for non-profit organisations that require legal personality․ A guarantee company does not have a share capital, but has members who are guarantors instead of shareholders․ The guarantors give an undertaking to contribute a nominal amount (typically £1․00) towards the winding up of the company in the event of a shortfall upon cessation of business․
Common uses of guarantee companies include꞉ -
Because the company form features a participating membership, it is suitable for representative organisations such as tenants’ associations, pressure groups and federations, where it is necessary for the governing body to be accountable to the people the organisation claims to represent․ In such type of a company, members will normally elect the directors․ Filling online charity using forming submitting charity’s application to file charities with charity registration training agency help to get CIO formed submitted in 1 business day․
However, it is possible to design a company limited by guarantee, where the only members can be directors, who are thus only constitutionally accountable to one another․ Such non-profit business structure may be preferred where the greater stability is required without the potential for power blocs to develop within a larger membership․
In this case, how the directors get to be appointed will be laid down in the articles of association of the company limited by guarantee․ In some cases, directors are eﬀectively self-perpetuating, with future directors appointed by the present ones․
In other cases, the articles of association of the company limited by guarantee will specify organisations or agencies, which are entitled to nominate just ONE or more directors, or detail some other procedure by which directors are identified and appointed․
When incorporating multi-members non-profit organisations, this form is sometimes preferred over the industrial and provident society because the company law allows multiple classes of member with separate voting constituencies․
A company limited by guarantee is a legal entity, which exists in its own right in the eyes of the law, separate and distinct from the individuals who are involved in it․ A “Company Limited by Guarantee” is like a separate person in law․ It can sue, or to be sued, in its own name; it can enter into contracts, and can own property all in its own name․ The company limited by guarantee and having no share capital can be structured and registered as a private family foundation․
These type of companies (“private companies limited by guarantee”) are used by charities and for not for profit promotion of education, commerce, art science and sport, or for promoting the interests of a particular section of society, or for a particular policy․ We prepare and electronically submit a new non-profit company limited by guarantee for registrations as soon as we receive your instructions, and incorporation of a new company can be completed within one-working day․
For a quick and easy way for to incorporate a guarantee’s company is via use an approved online company formation agency like 1-st Rank Formations under at Coddan․ For setting up and charity registration, apply to use online set up charitable organisation application form on Web-Filling forms to get charity’s filed in 1-business day․ The main diﬀerences between a company limited by guarantee and a company limited by shares shares are꞉ -
❶ It’s members do not receive share certificates and whilst they control the guarantee company, through decisions taken by them at General Meetings, they do each not “own” a proportionate part of the guarantee company․
❷ It’s members are cannot receive any dividend, profit or other income from the guarantee company, nor can they receive a share of its assets if it comes to an end․
❸ It’s members enjoy limited liability, but usually have to pay an annual subscription (at a rate set annually by themselves at General Meeting) and, if the guarantee company is forced to come to an end through a liquidation, they are obliged to pay a final sum of ￡1․00 each to the Liquidator․
❹ The members (in most cases) are elect the Board of Directors (usually called ‘Trustees’ or ‘Governors’ to avoid connotations of salaries and bonuses) which is responsible for setting and overseeing the policy of the guarantee company․
❺ The directors are also enjoy limited liability, provided that they haven’t acted negligently, or fraudulently, or have not permitted the guarantee company to continue trading when it was insolvent (this is known as “wrongful trading”)․
❶ Members’ liability is restricted (usually to ￡1․00 each)․
❷ The guarantee company can hold property and borrow money in it’s own name․
❸ The guarantee company is subject to the democratic control of members - both in relation to fundamental decisions (e․g․ a change in its constitution) and in relation to election/re-election of the Board․
❹ It is relatively easy to set up a wholly-owned subsidiary company, with a share capital owned by the guarantee company, which is particularly useful where the guarantee company is a charity and the subsidiary company is to be used for non-charitable trading (often called “a trading subsidiary”)․
Yours Non-Profit Business's Company name must end with the word ‘Limited’, or its abbreviation ‘Ltd’, or the Welsh language equivalents꞉ ‘Cyfyngedig’, or ‘Cyf’․ For example꞉ ABC Limited, ABC Ltd․, ABC Cyfyngedig, ABC Cyf․ These words (Limited․, Ltd․, Co., Cyfyngedig, Cyf․) must not occur in any other place within the name of your company․
If certain requirements are met however, a company limited by guarantee may apply for and be granted an exemption from using ‘limited․’ (or its Welsh equivalent) in its name․ The requirements are as follows꞉ -
(a) the objects of the company are to be the promotion of commerce, art, science, education, religion, charity or any profession, and anything incidental or conducive to any of those objects; and
(b) the company’s memorandum or articles of association꞉ -
(Ⅰ․) require its profits (if any) or other income to be applied in promoting its objects’
(Ⅱ․) prohibit the payment of dividends to its members, and
(Ⅲ․) require all the assets which would otherwise be available to its members generally to be transferred on its winding up either to another body with objects similar to its own or to another body the objects of which are the promotion of charity and anything incidental or conducive thereto (whether or not the body is a member of the company)․
Essentially two-tier, with the board of directors accountable to a wider membership (sometimes referred to as a “participating membership”)․ Members will typically hold voting rights at general meetings and will elect all or some of the directors․
Further embellishments may be added to this basic structure, e․g․ an executive committee (smaller than the governing body, perhaps made up of honorary oﬃcers and senior staﬀ), or a members’ council, which may meet more frequently than the full membership and supervise the work of the directors․ However, it is possible (and quite-common) to create a ’SINGLE-TIER’ structure by simply stating that only directors may be members and vice-versa․ Thus although these two roles will still exist within the company limited by guarantee, the same people will perform both․
Non-profit companies are not legally required to have a secretary, but it is strongly advisable, secretary usually described as the senior administrator․ This person may also be a member or director, but need not be․ In funded community and voluntary organisations, the post of secretary will often form part of the job description of a member of staﬀ․ For starting-up a NGO the “Nonprofits Business” online, apply to use our electronic Web-Fill-up nonprofit start-up application at low set up filing fees and reasonable costs․
If you want to appoint a professional secretary, please contact us, or you can appoint a secretary provided by us, and this service is available at our fourth company formation option for UK residents․
The guarantee company’s constitution꞉ guarantee companies have a special form of constitution called a memorandum and articles of association․ The first part the memorandum of association sets out꞉
The second part the articles of association describes the management structure․ Sets out the rules for meetings, accounts and finance․ States the criteria for membership, the voting rights of members and the powers and duties of the directors․
Non-profit company registration꞉ about the members’ contribution꞉ this information is required by virtue of section 2(4) of the Companies Act which provides as follows꞉
“The memorandum of a company limited by guarantee must also state that each member undertakes to contribute to the assets of the company if it should be wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount․”
The total commitment of the members, taken together, is known as the “guarantee fund”; this fund only comes into existence on a winding up․ In practice, this form of vehicle is usually unsuitable for most businesses but is often used, for example, by charities․ There is no limit as to the amount which must be stipulated as the member’s maximum contribution․ It may, for example, be as little as ￡10․00 or as much as ￡1,000,000․
However given the nature of the activities of most companies limited by guarantee (e․g․ not for profit concerns such as clubs, management companies for flats and associations of traders for trade protection or information exchange) it is likely to be a relatively small amount such as, say ￡10․00․
The standard membership contribution on formation is ￡10․00․ It cannot distribute its profits to its members, and is therefore eligible to apply for charitable status if necessary․ You should bear in mind that the amount which you stipulate as the maximum contribution by members in the event of a winding up cannot be increased after the company is incorporated․
The company may be registered with membership contribution that is greater than the amount it needs as initial contribution․ When applying for the alternative membership contribution for your company, please make sure that the value per membership contribution is not less than ￡1․00․ If you desire to have value per membership contribution less then ￡1․00 (for example 10․p or 1․p) you will need to apply for the paper filing for your company at additional charge․
Guarantee company members and directors protection from personal liability꞉ the ordinary members of a company - that is, those who have signed guarantees, will only be liable for the maximum amount they have guaranteed if the company goes into insolvent liquidation․ The directors, however, can be made liable for a company’s losses or debts in a number of ways꞉ dishonestly dealing with the company’s property or money․
Cheating the company’s creditors or clients (1 and 2 are known as fraudulent trading)․ Negligent actions or decisions (or negligent failures to act or take decisions) which lose the company’s money or assets․ Carrying on activities which are not permitted by the company’s objects or powers clauses and cost the company money or waste its resources (known as committing ‘ultra vires’ acts)․
Carrying on the company’s business and running up further debts when it has become obvious that the company is in financial diﬃculties and should be wound up as soon as possible (known as “wrongful trading”)․ Signing a form or agreement to act as a guarantor for a debt owed by the company․ Acting while disqualified as a director or charity trustee․ If directors use their position as directors for secret personal gain, then they may be made to repay to the company the profits made from this abuse of power․
These are set out in the articles of association․ All members have the right to be notified of and attend general meetings of the company, and to vote at these meetings if the articles give them voting rights․ In most charitable companies, the members attend the annual general meeting to receive the audited accounts, appoint the auditors for the next financial year, hear the directors’ annual report and financial report and vote in the Committee for the following year․
Under company law, members have the right to remove a director from oﬃce by calling a general meeting with at least 28 days’ notice in writing to all members and directors․
At this meeting, the director concerned has the right to put their case, either verbally or in a written statement․ If the voting members then pass a resolution to remove them by a simple majority (51%), then they must stand down․
The same type of resolution and rules must be used if an auditor is to be removed․ Company members (whether or not they can vote at meetings) have the following additional rights꞉ to be given a copy of the memorandum and articles of association at a maximum cost of 5․p‥ To inspect the register of members on reasonable notice during normal oﬃce hours․ To call an annual general meeting if the directors refuse or fail to do so (as long as members with 5% of the voting rights sign a request to the company secretary to call the meeting)․
To call an extraordinary general meeting if the directors refuse or fail to do so, if members with 10% of the voting rights sign a request to the Company Secretary to call the meeting․ To receive a copy of the audited accounts and annual report at least 3 weeks prior to each AGM․
Charities only need to register with HM Customs and Revenue (the new merged Inland Revenue and HM Customs) if꞉ the taxable income from trading meets the threshold (currently £85,000 a year), they are a small charity or exempted or excepted, Charity and don’t yet need to register with the Charity Commission but want to claim Gift Aid․ Call us to discuss your needs and see how we can help․
Non-profit companies are do must to have at least of three directors/trustees․ The duties of a charitable company directors are very similar to those of charity trustees․ They include acting in good faith and in the best interests of the company’s members and the charity’s beneficiaries․ Taking the same degree of care in managing the company’s finances, assets and aﬀairs as a reasonably prudent business person would take in respect of their own business․ This includes taking professional advice when needed and making decisions as a body․
Keeping the account books in such a way that they can be audited or examined each year․ Supervising and managing the company’s employees and voluntary workers properly, and making sure they give regular reports on their work to the committee․
Complying with employment and health and safety law, and making sure the organisation is properly insured, accountable to funders and has plans and strategies in place for its work․
Incorporation is the process by which a new or existing business registers as a ‒limited company”, thus is to acquiring a specific kind of a legal business status․ A Commercial Business Corporation may be formed by filing a Certificate of Incorporation pursuant in to a report records in a UK Corporate Trade Division at in London․ Every a business filled in the UK as a Business's Corporation limited by in a stock shares is requiring to file a annual report in to the Govt. Records reports up to date․ In most cases, they are not a company’s registered own records but merely the government records of a company’s registration and a business filled by incorporation․ We harness our a market-leading technical expertise to oﬀer a full suite of a fill-up services, designed to help your vision to become a thriving reality․ We can complete a business corporate a annual report and filling reports in a relevant of a public’s authorities records on a limited company’s behalf in a top full record․
Filing the accounts with Companies Registry and the Charity Commission within 10 months after each year-end․ Maintaining the ‘statutory books’ - that is, the register of members, the register of directors and company’ secretaries and the register of charges - secured loans made to the company․ Keeping proper minutes of meetings, both general meetings and directors’ meetings․ Making sure that company law is complied with when giving notice of and holding meetings․ Notifying the Companies Registrar of changes in directors or company secretaries within 15 days after each change․
Annual general meetings (AGMs) need at least 21 days notice in writing to members, which must include copies of any proposed resolutions to be passed at the meeting and copies of the accounts and annual report to be presented by the directors․ Extraordinary general meetings (EGMs) need at least 14 days notice in writing to members․ The auditors have a legal right to be invited to all AGMs and to any EGMs where their interests may be at stake․
When holding general meetings, the directors and secretary must be aware of company law in relation to passing resolutions (making decisions)․ Most resolutions require only a simple majority vote․ There are, however, two types of resolution which need a 75% majority vote to be passed꞉
Special resolutions - that is, any decision to alter the Memorandum and Articles of Association, change the company’s name, dispense with appointing auditors if the company has been dormant throughout the whole of a financial year, ratify a previous ‘ultra vires’ act committed by the directors or to wind up a company that is not insolvent extraordinary resolutions - that is, any decision to wind up the company because it is insolvent or is heading for insolvency or to dispense with auditors after the first AGM because the company is likely to remain dormant for some time․ Under the 2006 Companies Act, a new way of passing resolutions was introduced․
This is called a written resolution and it enables companies to make decisions without having to convene a meeting The resolution is circulated to all voting members who must each sign agreeing to it․ It can be on separate sheets as long as the wording is the same on each sheet․ It is only valid if carried by a 100% majority vote of all members entitled to attend and vote at a general meeting․ It is really only useful for straightforward decisions where no discussion is needed and when holding a meeting is going to be very diﬃcult or impossible․
Also, the larger the company’s membership, the less practical it is to circulate written resolutions․ Customers can get support from a team of Corporate Guides a top leading experts in a company formations, formation services to help with a company formation assistance․ Contact the government’s listed agency for the Business Support Helpline for to get find further information, get a free advice from our support team in the UK․