http://www.accaglobal.com/zm/en/technical-activities/technical-resources...
I believe that companies limited by guarantee have subscribers rather shareholders.
Reading the mem & Arts i find that there are 4 subscribers when the companywas formed. 3 of the 4 have moved on (possibly dead).
questions
1- I know that in my case they only guaranteed £1 each, but does the company need to find replacement subscribers
2- If so do we need to file anything at companies house to say exchange in subscriber / Guarantor
Replies (4)
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What does the company do? If it's a charity then I believe the Charity Commission's suggested number is 3, otherwise the minimum is 1.
Have you looked to see what the articles of association say is the minimum number of members?
Always a bit of a cloudy situation for me. Paying a subscription would help identify members but it's all airy-fairy.
"Subscribers" are the folk who set up the company. "Members" are the current owners who may or may not also be shareholders.
Such companies have subscribers. You might be interested in this article: Companies Limited by Guarantee https://www.accountingweb.co.uk/business/finance-strategy/companies-limi...
You dont have to find replacement subscribers and the company filings are the same as for a company limited by shares.