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Hy, I will be glad if someone can help me to correct this therm of incorporated companies There are two types of incorporated companies in GB and they are private and public. The distinctions between these two types are, that the name of the companies have different endings. Therefore the public companies ends with PLC and the private ends with Ltd. Also a PLC must be state in the memorandum of association. And they need different minimum of members, a PLC takes two and a Ltd needs only one member. A Ltd don't need an authorizing capital but a PLC need an authorized capital of 50,000 pound.Everybody can buy shares of a PLC. A Ltd can't advertise to invite public to subscribe. Also the accounting of these companies are differential therefore a PLC has strict requirements about the format of accounts and for a Ltd a simplified accounting is quite enough, because a Ltd are usually small and a PLC has a large firm size.
Feb 23, 2010 4:13 PM
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There are two types of incorporated companies in GB: private and public. The distinctions between these two types are signified by different endings for the names of the companies. Public companies' names end with "PLC" and the private companies' names end with "Ltd". Also, the fact that a company is denoted as a PLC must be explicitly stated in the memorandum of association. They also need different minimum numbers of members: a PLC requires two and a Ltd needs only one member. A Ltd doen't need an authorizing capital. On the other hand, a PLC needs an authorized capital of 50,000 pounds. Everybody can buy shares of a PLC. A Ltd can't advertise to invite the general public to subscribe. Also, the accounting of these companies are different: a PLC has strict requirements about the format of accounts; for a Ltd simplified accounting is sufficient. The difference is due to the fact that a Ltd is usually small and a PLC has a larger firm size.
February 23, 2010
WDF81
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