Company formations

Setting up a Limited Company

A limited company is a private company registered in the UK by Companies House and assigned its own incorporation certificate and number.

The company's profits, losses and liabilities belong to the company rather than an individual and the company run by its directors. The benefits of a limited company are such that if the business should fail the losses and liabilities incurred remain limited to the company and do not extend to the personal assets of the directors and/or shareholders.

It is also more commonly thought that credit is more readily available to a limited company.

In order to register a limited company the following information is required:

• A company name
• A Director for the company (this can be yourself)
• A Secretary (optional since April 2008)
• A Shareholder (with at least a single £1 share in the company)

Anyone can register a limited company with the proviso of the following conditions:

• They are not an undischarged bankrupt.
• They have not been restrained by court order.
• They are not subject to UK government restrictions.

The major benefit of registering a limited company is the limited loss aspect.

In addition many suppliers, creditors and companies prefer to do business with limited companies.

Each year a limited company has to return the following documents to Companies House:

• A profit and loss account A balance sheet signed by a director
• An auditors report signed by the auditor (if appropriate)
• A directors report signed by a director or the secretary of the company
• Notes to the accounts
• Group accounts (when necessary)

Click Here to register your own company today.
The process is quick, easy and simple.