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Old 15-06-2008, 01:05 AM
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jakenl2001 jakenl2001 is online now
Master Florist
 
Join Date: Oct 2007
Location: Somerset
Posts: 1,021
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Limited Liability

A company can be limited by guarantee or share. It is a legal status and can't just be 'tacked' on to the end of a business name.

Limited companies have to register with Companies' House and must submit annual accounts.

It essential turns a business into a seperate legal entity, offering protection to it's members if things go pear-shaped!
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