Public Limited Company
Benefits as per Bronze Pack, the company must have a share capital of at least £50,000 with at least 25% being paid for.
The key difference between UK public limited companies and UK private limited companies is that a UK public limited company may offer to sell its shares to the public usually on the London stock market.
A PLC cannot start business until it has a Certificate, issued by Companies House, entitling it to do so.
The main step to take in getting such a Certificate is to ensure that there is at least £50,000 of shares in issue when the application is made, with at least 25% of each of the issued shares paid up in cash.
The following examples can be used to illustrate the potential pitfalls to beware of:
1. If the company has 50,000 shares with a nominal value of £1.00 each, then at least 25 pence must be paid up in cash on each and every share, with the other 75 pence remaining unpaid and owing until such times as the shareholders pay it up voluntarily or upon receipt of a demand from the Directors Cash in the bank will therefore be a minimum of £12,500 leaving £37,500 owing to the Company that the Directors can all upon as and when they wish to.
2. If the combination of the number of shares issued and face value do not easily divide out by £50,000 then the whole of the share capital must be paid up before a certificate can be applied for.
Our tailor made limited company formation service guides you through these and other pitfalls and allows you to choose the name of your new company, subject to availability. Your company will be incorporated within 24 hours of ordering and your full company pack despatched immediately all docuements have been processed..