Type of Company
There are four main types of company:
- Private company limited by shares - members' liability is limited to the amount unpaid on shares they hold.
- Private company limited by guarantee - members' liability is limited to the amount they have agreed to contribute to the company's assets if it is wound up.
- Private unlimited company - there is no limit to the members' liability.
- Public limited company (PLC) - the company's shares may be offered for sale to the general public and members' liability is limited to the amount unpaid on shares held by them.
Who can form a company?
The Companies Act generally allows one or more persons to form a company for any lawful purpose by subscribing to its memorandum of association. However, a public company or an unlimited company must have at least two subscribers. (In law, 'person' includes individuals and companies.)
Forming a company
Bond Group LLP can form your company, which will entail registering your chosen name, appointing director(s) and the company secretary, providing you with the registered office and issuing the share certificates to your shareholders. All companies will have a memorandum of association and articles of association.
This memorandum of association sets out the company's name, where the registered office of the company is situated (in England, Wales or Scotland); and what it will do (its objects). The object of a company may simply be to carry on business as a general commercial company. The articles of association set out the rules for the running of the company's internal affairs.
Registered office
This is the address of a company to which Companies House letters and reminders will be sent. The registered office can be anywhere in England and Wales and must always be an effective address for delivering documents to the company, and to avoid delays it is important that all correspondence sent to this address is dealt with promptly. If a company changes its registered office address after incorporation, the new address must be notified to Companies House on Form AD01.
The large majority of our clients use our office address as their registered office address.
