There are four types of company structures available under UK law: -
•Private companies limited by guarantee;
•Private companies limited by shares (known as private limited companies or LTD);
•Public limited companies (known as PLC);
• Community interest companies.
Private companies limited by Guarantee
•A Company Limited by Guarantee is an alternative type of company usually used primarily for non-profit organisations that require corporate status.
•It does not have share capital and has members who are guarantors instead of shareholders.
•Guarantee companies include clubs, membership organisations, sports associations and some charities.
Private companies limited by Shares
•A private limited company is one in which the owners hold a percentage share of the value of the company. Often this is dictated by the amount of the capital sum or the value of the property that each person contributed to the company.
•There must be at least two directors.
•Owners of private limited companies have limited liability for the debts of the company up to the amount they originally invested.
•Private companies do not trade their shares to the public, but can offer shares to business contacts. This constraint often restricts raising capital for growth so that most private limited companies remain relatively small.
•In Private companies limited the shareholders are not liable for anything more than the nominal value of their shares.
•Shareholders are not entitled to run the company, unless they are members of the Board of Directors, a panel responsible for the daily business management.
Public Limited Companies
•A public limited company (plc) is a company that trades shares nationally and or internationally. It can sell shares directly to the public or through an investing institution.
•A plc is owned by the shareholders who have bought an interest in the company. Their liability is limited to the value of their original purchase of shares.
Conditions of PLC
In the UK, a public limited company must satisfy the following conditions:
• A minimum of paid up share capital of £50,000
• There must be at least two shareholders
• There must be at least two directors
• The right to offer its shares (and debentures) to the general public
•A certificate from the Register of Companies that states these requirements have been met
•A memorandum that states it is a public limited company
•The legal definition of a partnership was put forward in the Partnership Act 1890 as: "The relation which subsists between persons carrying on a business in common with a view of profit".
•Partnerships offer a business the opportunity to share skills and workload, and importantly, to raise more capital than would be available to a sole trader.
•Common examples of partnerships include the practices of doctors, solicitors, accountants, estate agents, architects and auctioneers.
•In the UK, applications for charitable status are usually made to Charity Commission. And organisation may apply for charitable status if its aims are exclusively for the "public benefit".
Categories of Charities
There are currently four categories under which an organisation may qualify:
• Educational advancement
• Poverty relief
• The advancement of religion
• Purposes beneficial to the community.
project management assignment help, business management assignment help, business management assignment, management assignment help services, strategic management assignment help, management accounting assignment, management homework help, marketing management assignment help, human resource assignment help, human resource management assignment help, managerial accounting assignment help, management accounting assignment help, financial management assignment help, it management assignment help, project management homework help, hospitality management assignment help, hr management assignment help, operations management homework help, brand management assignment help, database management homework help