Classification

Classification

1. Public Companies

   • minimum share capital £50,000
     • s117
   • Can offer securities in public
   • 2+ directors

2. Private Companies

   • Simpler capital rules
   • shares with less complication
   • Companies Act 2006 (Amendment) (Accounts and Reports) Regulations 2008
     • Small company
       • turnover < £6.5m
       • balance sheet £3.26m
       • Small group
         • turnover < £7.8m gross
         • balance sheet < £3.9m gross
       • < 50 employees
     • Medium Company
       • Turnover < £25.9m
       • Balance sheet < £12.9m
       • Medium Group
         • Turnover < £31.1m gross
         • Balance sheet < £15.5m gross
   • Small companies are audit expemt
   • Unlimited
     • no accounts at all
       • s448

3. other

   • Unregistered
     • s1043
     • pre company legislation
     • Banks/Insurance
   • Dormant
     • s1169
     • no transactions
   • Overseas
   • Subsidiary
     • conrtolled by another
   • Single member
     • Neptune (vehicle Washing)
       • still needs to have meetings
   • Quoted
     • equity share capital on a market

4. Re-registration

   • Public to Private
     • s97
   • Private to Public
     • 90
   • limited to unlimited
     • s102
   • unlimited to limited
     • s105