Limited Company

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Private Limited Company -- limited by shares (Ltd.)

• Public members cannot buy shares.
• Limited liability refers to the shareholders only being liable for their percentage of investment. 20% cost investment = 20% of the company.

Private Limited Company -- limited by guarantee(LBG)

• Can be non-profit or charity company.
• Not responsible for the amount they invested.
• No shareholders.
• People who are responsible for the business and any debts are members of the board as guarantors.

Public Limited Company (PLC)

• Offer shares to the members of the public.
• More legal requirements, like two company directors, two shareholders, a company secretary, at least 50,000 pounds of issued share capital.

Limited Liability partnership (LLP)

• It is like Ltd., but shareholders are partners.
• The partners can directly manage the business.

Private Unlimited company

• Does not have to submit an annual return or financial statements.
• All shareholders are responsible for business liabilities.
• All shareholders are equally responsible and would have to share the debt.

References

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1. What are the different types of limited companies?