Share this content

Company Limited by guarantee


Didn't find your answer?

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).


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)

Please login or register to join the discussion.

By SkyBlue22
06th Jun 2017 16:40

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?

Thanks (0)
By floggy
06th Jun 2017 17:24

its a bit weird.
it was a charity when created then, cancelled the charity status and began 'trading for a profit'.
last year had a distribution from reserves to the one remaining subscriber.
hasten to add, not my client.

Thanks (0)
By lionofludesch
06th Jun 2017 17:54

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.

Thanks (0)
Jennifer Adams
By Jennifer Adams
06th Jun 2017 19:07

Such companies have subscribers. You might be interested in this article: Companies Limited by Guarantee
You dont have to find replacement subscribers and the company filings are the same as for a company limited by shares.

Thanks (0)
Share this content

Related posts