Advice on a Ltd Co becoming a Plc

Advice on a Ltd Co becoming a Plc

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Our company has traded for over 10 years and are growing at a steady rate. We are looking at becoming a Plc.

What are the advantages and disadvantages of becoming a Plc? Can a Plc file abbreviated accounts? we are confused about what qualifies someone to be the Company Secretary?

All comments appreciated

Replies (5)

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Tom McClelland
By TomMcClelland
30th Jun 2012 11:54

A pain, but good for marketing purposes

My previous company did this (became a plc).

It was good for marketing purposes because lots of potential clients assume that plc's are big quoted companies. Most don't realise that a plc can just be a ltd with bigger share capital. But it was a pain for admin because if I remember correctly there were a few extra hoops to jump through (though nothing like what you have to go through for a real listing).

Thanks (1)
Replying to Chipette:
By stevejbicknell
02nd Jul 2012 09:23

Company Secretary

Does a Company Secretary need 3 years experience as well as being a qualified accountant? I am little confused on this.

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By James Hellyer
30th Jun 2012 13:26

One big drawback...

... as a plc, the company will require a statutory audit of its accounts. Also, public status means the accounts submitted to the Registrar of Companies cannot be abbreviated accounts.

 

 

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avatar
By DMGbus
01st Jul 2012 13:44

6 months (not 9 months) filing deadline for accounts

One further burden - a "show off" small company as a plc (like all plc companies) has just 6 months to file accounts at Companies House instead of 9 months as a "normal" small ltd co.

 

 

 

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By James Hellyer
02nd Jul 2012 10:38

Either or

The Company Secretary needs three years experience as secretary of a private limited company OR to be a qualified accountant OR Chartered Company Secretary OR in office on 22 December 1980.

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