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This company type is suitable for charitable organisations and not-for-profit companies such as clubs, associations, sports clubs, membership clubs, educational bodies and voluntary organisation. It’s perfect for organisations that can’t set up a traditional limited by guarantee company .
If the objects of your limited by guarantee company are charitable, you can be exempt from having the word “Limited” or “Ltd' at the end of your company’s name. During the application process, you will be asked to tick a box requesting the name exemption. At the of the application process, you will be asked to download our limited by guarantee company articles of association. You can then insert the objects of your organisation and upload the edited document. The amended articles will be submitted electronically with your application.
The word “charity” is considered a sensitive word by Companies House, and it cannot be included in your company name until you are registered with the Charity Commission . The easier option for you is to register your company under another name, which will give you a company number. After that, you can apply to the Charity Commission to have your company added as a “registered charity”. This will then give you a separate charity number. At this point, you will be recognised as a charity and can simply change your company name to include the word “charity”. We can help you inform Companies House of your name change and handle all the paperwork for you.
When you register a company , you have multiple options. Registering as a limited by guarantee company will protect the people running the organisation from personal liability for the company's debts. In a charitable company’s limited by guarantee model articles, the liability is limited to the amount of the guarantee set out in the model articles, which is normally just £1. Funding bodies, such as local authorities, may also insist that the charitable organisation be registered as limited by guarantee.
A limited by guarantee company is similar to a company limited by shares in that it is registered at Companies House, ran by directors and must file accounts and a confirmation statement every year. The fundamental difference is that a limited by guarantee company will not have any shareholders but members who control it.
There are various pros and cons of setting up a charitable organisation as a limited by guarantee company. Whether you decide to opt for this option will depend on your needs and activities.
Pros
Cons
Are you looking to set up a charity that is limited by guarantee? Our limited by guarantee company package comes with charity articles to allow you to establish a charitable organisation. Let Mint Formations handle the process for you and receive ongoing support and a whole host of free extras.
Register your limited by guarantee charity todayCall now: 0207 112 8684
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