A company limited by guarantee is an alternative type of incorporation used primarily for non-profit organisations that require corporate status. 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 towards the winding up of the company in the event of a shortfall upon cessation of business. It cannot distribute its profits to its members, and is therefore eligible to apply for charitable status if necessary.
Common uses of guarantee companies include clubs, membership organisations, sports associations and charities.
WHAT IS IN THE GUARANTEE COMPANY PACKAGE:
- Certificate of Incorporation
- Statutory Registration fee
- Certificate of non-trading
- Three copies of Memorandum of Association
- Three copies of Articles of Association
- Minutes of the first Board meeting
- Letter of appointment of bankers and accountants (if required)
- Companies House forms as required
- Sent via First Class post
In addition, the following optional charges may be incurred:
1. provision of a registered office
2. provision of Company Secretary services
