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A Public Limited Company (PLC) is a UK-registered company which is allowed to offer its shares to the public, although it is not obligated to do so. It can also issue advertisements offering any of its securities for sale to the public. The terms “PLC”, “public company” and “public limited company” are synonymous. The word “pubic” referring to the fact that the shares can be sold to any member of the public.
As with any limited company, the shareholders are protected by limited liability so that their financial contribution to the company is restricted to the amount they subscribe or pay for their shares. Shares in a PLC can be listed on stock exchanges so that they are easily tradable and can be bought and sold by the public.
PLCs are required to comply with stringent reporting and regulatory requirements and are subject to a great deal of oversight; as a consequence, investors and other persons dealing with them have confidence in the financial information available about a PLC. Compliance with regulatory requirements and the associated prestige makes it relatively easy for a PLC to raise capital.
Setting up a PLC.
To set up a PLC, you will need the following:
Trading Certificate
Before an incorporated PLC can trade or borrow money, it must receive a trading certificate from Companies House. The application for a trading certificate is made on Companies House form SH50. A trading certificate is issued when a company has issued a share capital of £50,000 or more and for which it has received payment of at least £12,500 or 25% of the issued share capital.
Other information
Annual Compliance obligations
Advantages of PLCs
PLCs are subject to very stringent oversight especially if they are listed on a recognised stock exchange. The conduct of their directors, their trading results and their finances are subject to regular reviews. As a consequence, investors, lenders and customers can have confidence in their dealings with PLCs. Accordingly:
Q. Is there a difference between setting up a PLC, setting up a public limited company, forming or the formation of a public company, PLC registration and PLC company formation.
A.No. They all refer to the process of incorporating a PLC at Companies House.
Q.What is the formation procedure of a PLC.
A.Simply go to this page and follow the instructions and you should have your PLC within 1 working day.
Just like most formation agents, we use a third-party software system that links our orders directly to Companies House. Once your order is placed, it is automatically forwarded to Companies House. The time taken is entirely dependent on Companies House’s workload. Companies House will normally complete your application within 1 working day. In unusual circumstances, Companies House systems can be interrupted and take more than a day to resolve, but this is very rare.
There is no requirement to specify the objects of your company or the nature of your trade in the articles of association (constitution) of the company. However, you will be asked to provide a SIC (Standard Industrial Classification) code when you make your application. A drop-down list of all the available classifications is available at the appropriate juncture in the application. You only need to select one code, and it should be the code that is the most accurate. It is very rare to find an exact SIC match, so use a general SIC match if that is all that is available.
We offer a discount to first time buyers who wish only to buy a basic limited company formation. The basic price is always published and clearly stated but will vary from time to time. There are never any hidden charges. There is a selection of more expensive packages, and there are extra services you can buy. We charge for all the extras, but they are entirely optional.
You need a shareholder and a director. The shareholder and the director can be the same person, so a company can be formed with just 1 person. Shareholders are the owners of the company while the directors are the people responsible for managing a company. The director must be at least 16 years of age.
You do not need any documents to form a company, and the entire process is online. Our systems generate and submit forms IN01 and the Memorandum and articles of association on your behalf when you complete your order.
Subject to specific rules, you can use any company name, provided it does not already exist or resembles another company name on the Companies House Register. Our name search box is linked to Companies House and will advise you if your proposed name is available.
We are a member of ACRA, the Association of Company Registration Agents. ACRA is the trade body of company formation agents, founded to promote good practice and provide a forum for its members.
Our membership is a statement of our commitment to the professional standards promoted by ACRA and our fellow members.