Although most commonly associated with companies listed on the stock market, there are a number of distinct reasons why many directors and shareholders choose to their set up a plc from scratch or to convert their limited company into a plc.
In the way that, in the minds of many, a limited company has more prestige and feels more secure and stable than an unincorporated sole trader or partnership, additional credibility and respect is lent to a company with the abbreviation "plc" after its name.
For help and advice on forming a public limited company, please call us on (telephone number) or email us at (email address).
Our service is automatic - when you complete your public limited company registration on our website, we'll check the details and submit them straight away to Companies House. As soon as they have approved the documents and you have been incorporated, we'll email you to let you know.
Companies House charge for the registration of public limited companies - all Companies House fees are included in our price. Your Company Formations has always had a transparent pricing structure so you know what you're paying for and how much it costs before you choose to use us.
By choosing our public limited company formation package, you'll receive electronic copes of your Certificate of Incorporation, your Memorandum of Association, your Articles of Association, and your Guarantor certificates.
In nearly all circumstances, you'll be ready to start trading on the same day that you form your public limited company through us.
For every public limited company, it's important to have a bank account to handle company cash and merchant facilities to take payments from fellow tenants. We can organise both for you and pay you (or an organisation of your choice) up to £55 cash back.
We have always provided free support and advice to all of our clients via telephone, email, and our website chat portal. We work with clients before, during, and after the set-up of their public limited company.
You can easily administer your public limited company online using our internet portal. It's easy to make changes to your company details when needed and our service saves you additional costs and fees in the future.
Your company name must end with the abbreviation "plc". Even though public limited companies are most often found on the Stock Exchange, there is no law requiring you to sell your shares to the public if you choose to incorporate as a plc.
There must be at least two shareholders upon incorporation and thereafter.
There must be at least two directors when you incorporate your plc. They must be over 16 years of age, must not be disqualified from holding directorships, and must not be an undischarged bankrupt.
You must also appoint a secretary to your new plc. That person must have spent at least three of the previous five years prior to their appointment as a secretary of a non-private company or be a court-admitted solicitor, advocate, or barrister. A person who holds membership of one of the Institutes of Chartered Accountants, Institute of Chartered Secretaries & Administrators, Association of Chartered Certified Accountants, Chartered Institute of Management Accountants, or the Chartered Institute of Public Finance and Accountancy may also be appointed as the secretary of your PLC company.
Upon incorporation, £50,000 of shares must be created and at least a quarter of those shares must be "paid up". Once those shares have been paid up, you must complete and submit form SH50 before trading with the signature of a commissioner of oath on the document.
You must present accounts to shareholders every year as well as appointing auditors. You must hold an annual general meeting and, no matter the size of your company's turnover, you are not permitted to file abbreviated accounts.Whereas standard private limited companies have nine months after their accounting year end to submit their accounts, plcs must do this within 6 months. A plc may also not apply for voluntary strike-off. Although we provide model articles for you as part of our service, these articles will not be suitable if you intend to apply for a stock exchange listing. If this is the case, we recommend that you engage with a commercial solicitor to draw up your Articles prior to registering your plc through Your Company Formations.