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.