S 17, no longer requires the memorandum it is a formality O the fee – the required fee for incorporation can be found on the Companies O Articles prescribing regulations for the company (if the company does not Under s 9 CA 2006, the following must be delivered to the Registrar of Companies atĬompanies House for a company to be registered: Summary of incorporating a company from scratch Every member may take part in management Members of an LLP may become personally liable for debts Required to file annual accounts and other information, reg at Companies House No procedural requirements, set up costs, and no requirements for publicly filed Can be set up without formal structure and regulations and no set up costs Enables a company to raise greater funds by offering shares to the public at large Needs a minimum of two directors and is obliged to have a company secretary Must have a share capital with a nominal value of at least £50, Harder to get outside investment and raise finance Set up costs and formalities need to be registered, and extensive disclosure Only needs one director and does not need to have a company secretary Flexibility to raise finance - no requirement to have any specified minimum Governed by the Companies Act 2006 and registered at Companies House Profits and losses belong to theĬompany and not the shareholders, and it is the company that is therefore liable for A company is a separate legal entity (the company owns property, enters intoĬontracts and can sue and be sued in its own name). The Company’s Constitution and Incorporation