A limited company is a type of business structure that is separate from its owners in terms of liability and finances. The owners of a limited company, also known as shareholders, have limited liability for the company’s debts, which means that their personal assets are protected in the event that the company is unable to pay its debts.
In a limited company, the shareholders are only responsible for the amount of money they have invested in the company in the form of shares. The company is required to have at least one director, and it can also have company secretary and shareholders.
However, limited companies also have certain legal requirements, such as registering with Companies House, maintaining accurate financial records, and filing annual accounts and tax returns.
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