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Annual Report 2016 Real impact through technologyAnnual Report 2016 | 1Photo Credits Photography throughout by Jamie Ball Justin Keane Tim Mansel Tony KinlanFront Cover Photo Students from Debrabant

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How to fill out limited by guarantee

01

To fill out a limited by guarantee, follow these steps:

02

Gather all the necessary information about the company, including its name, registered address, and directors.

03

Prepare the company's memorandum and articles of association, which outline the company's purpose and rules for its operation.

04

Include the names and addresses of the company's members, who will act as guarantors instead of shareholders.

05

Specify the guarantee amount that each member is responsible for, usually a nominal amount like £1.

06

Declare the number of directors and their powers within the company.

07

Submit the completed limited by guarantee form to the relevant government authority, along with the required registration fee.

08

Wait for the authority to review and approve the application.

09

Once approved, the company is officially registered as a limited by guarantee and can start its operations.

Who needs limited by guarantee?

01

Limited by guarantee is commonly used by non-profit organizations, charities, clubs, and other social or community-oriented groups.

02

Instead of having shareholders and share capital, these organizations have members who act as guarantors, providing a guarantee amount to cover the company's debts.

03

This legal structure is suitable for organizations that do not intend to distribute profits to its members and prioritize social objectives over financial gains.

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What is limited by guarantee?

A limited by guarantee company is a type of company that does not have share capital and is often used for non-profit organizations. Members' liability is limited to the amount they guarantee to contribute to the assets of the company in the event of its winding up.

Who is required to file limited by guarantee?

Companies limited by guarantee are typically required to file with the relevant regulatory authority, such as Companies House in the UK, as part of statutory reporting requirements. This includes non-profit organizations and community interest companies.

How to fill out limited by guarantee?

To fill out a limited by guarantee, you need to complete the appropriate forms provided by the regulatory authority, typically including details such as the company name, registered address, members' names and addresses, and the amount guaranteed by each member.

What is the purpose of limited by guarantee?

The purpose of a limited by guarantee structure is to provide a legal framework for the operation of non-profit organizations, ensuring that members' liabilities are limited and that any surplus funds are reinvested into the organization rather than distributed as profits.

What information must be reported on limited by guarantee?

Information that must be reported includes the company's annual accounts, details of members and directors, a confirmation statement, and any specific financial transactions or other significant events affecting the organization.

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