Limited By Guarantee Incorporation
This type of incorporation is used primarily for non-profit organisations that require a corporate status. Any profits are not distributed to members but are retained to be used for the purposes of the guarantee company.
The main features of a Limited by Guarantee Company are:
- No share capital – Members are guarantors instead of shareholders
- Members guarantee to contribute a predetermined sum to the liabilities of the company, which becomes due if the company is wound up, normally £1
- Liability of members is limited
- Members are decision makers not owners of the company so have no claim on any company assets
- Members can appoint ‘Trustees’, who have responsibility for creating and implementing company policies
- Subject to company law so is required to file accounts and other information with the Registrar of Companies
- Widely used by Schools, Professional and Trade Associations, Clubs and Charities
Our comprehensive L1 package includes all necessary documents and your company can be registered in just a few hours. All we need are your company details, address and payment details and we’ll do the rest, making your company formation as easy as possible.
How to order
Please contact us through our enquiry form and we will obtain the necessary information to ensure the formation of your LLP. Alternatively call us on 0845 026 2460.