Company limited by guarantee – the UK form for clubs, associations, foundations and charities.
It has no shares or shareholders but members who guarantee a nominal amount (usually £1). Any surplus is not paid out to members but used for the organisation's purpose.
Typical uses
- Clubs, communities and associations with an international reach.
- Educational, cultural and scientific projects.
- Professional and trade bodies.
- Charities – followed by registration with the Charity Commission (England & Wales) or OSCR (Scotland).
A name without “Limited”
Where the objects are, for example, education, art, science, charity or the promotion of a profession, and the articles prohibit payments to members, the company can omit “Limited” from its name. We prepare the articles accordingly.
As AIA members we can also carry out the independent examination of charity accounts for charities with income up to £1,000,000. More about our regulated accountant services.