ACCA LW ^Eng Syllabus D. The Formation And Constitution Of Business Organisations - Analyse Different Types Of Companies - Notes ^{3 / 5}

Unlimited companies

These have separate legal personality 

However the members do NOT have limited liability 

Instead they do not have to file their accounts or make their accounts public

Companies limited by guarantee

Here the members have their liability limited to an agreed amount

Charities and Educational establishments often use this, allowing them to drop 'Ltd' from their name

Private Limited companies

These (most common) companies limit members' liability to amounts unpaid on their share capital.

Public Limited companies

These are similar to private limited companies except their shares may be advertised to the general public.

A stock market listing may be applied for, but not all plc's are listed on a stock market.