What is a company limited by guarantee?
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- Опубліковано 11 гру 2024
- What is a company limited by guarantee?
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DISCLAIMER
All information in this video is of a general nature and has been provided for educational purposes only. The statements and expressions are believed to be obtained through reliable sources and experience; nevertheless, its present accuracy cannot be guaranteed and should not be seen as legal advice. You agree to use the information presented at your own risk and do not hold Pura Track responsible for any losses or liabilities incurred.
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Iam a law student from kerala Thank you dear it's very useful for me 🌹🌹💓
You’re most welcome 🦋
I'm a Nigerian and this helped me so much.
You’re most welcome. Glad it could help. 🙂
I just looked this up and saw this. Amazing explaination !
Aww thanks Isaac!
really liked this but you should have continued with another video on limited by shares, what shares are in short 3mins videos, debetures etc. makes lots of sense thou like this
Glad it was helpful.
Sorry I don’t have that video for you. Shares are not my area of expertise/experience so tried to stick to this when creating the video.
You explained very well..thankyou so much ma'am..
Love from India 😊😊
You're very welcome! 😄
I'm an indian, and you explained it very amazingly.. All i need is to turn on cc..😅
Lol you’re welcome. Glad the subtitles were helpful! 😅
Hey there, this was super helpful. Thank you :)
You’re welcome! ☺️🙏🏾
Could you do a video explaining limited by share please? Thank you!
Hey, thanks for your comment!
Not my specialty but will see what I can do.
Blessings
Tq soo much ma'am (From nepal)
You're welcome
Hi, great video and easy to understand. Maybe a silly question but I don't know. If you were to set up a business this way and all the money made goes back into the business, how does the person that started the business get paid?
Hi Luke, the individual can earn a salary and be paid as an employee/director of the company.
And staff costs count as a business expense.
Hope that helps. :)
Thanks lady nice and simple 👍🏾
You’re very welcome.
Please i would like to ask if limited by guarantee companies pay workers. If the profits they make are invested into the company, paying workers is also a form of investing into the company. Am i right?
Hello!
A company limited by guarantee can and does pay it’s employees. Staff payments/salaries count as a company expense as staff are needed to operate the company and to provide the services.
I hope that helps.
Very helpful, thank you so much. Keep up the great work!! :)
You’re welcome, and thank you! 😊
Hello and good morning I need one more director for my business and not sure why I can find one. Any help would be great. Thanks
Well explained, thank you, we need information on these subjects
You're most welcome, glad it was helpful! Blessings.
thanks for your presentation
You’re welcome!
Hello and good evening I hope you are is well. I am starting a CIC at the moment and wondering if I used my my friend as a director and worst scenario I got into debt or something would they be liable? or would they be affected in anyway ? I would be super grateful for this. Thanks George
Hi George,
As a director your friend would also be legally responsible for the running of the company; however, like yourself (if you are also one of the directors), their financial liability would be limited to the amount stated in the company’s governing document. Generally this would be a nominal amount such as £1 to £10. Hope that answers your question.
Excellent presentation, thank you. This might sound like a silly question but just please allow me to ask: in the case the company goes bankrupt and the guarantors are supposed to pay say 1 pound; to whom should this payment be made? Thanks again :)
Hi Nader, not a silly question. Essentially this will go towards creditors owed but how the money is collected will depend on the specific circumstances.
Thank you very much for your reply. So just to clarify, does this now mean that this payment is purely "symbolic" if I may say (?)
@nadersallam2996 Hi Nader, you're welcome. If by symbolic, you mean a director's liability is limited to a nominal amount, then yes.
Best explained 👍👍👍
Glad it was helpful!
This was sooo helpful 🙏🏽
You’re welcome! ☺️
Thanks
You're welcome
simple & super
Thank you 🙂
This was perfectly explained
Can you you please upload more videos in company law, commercial law, constitutional law and administrative law 💗💗
azaria zilinde Mbewe thank you for your comment! Do you have any specific video requests?
@@PuraTrack yes please.. with regards to company law I would love for you to explain on the 1.MANAGEMENT AND CONTROL OF A COMPANY.
2.CAPITAL AND SECURITIES
azaria zilinde Mbewe Unfortunately delving into capital and securities falls outside of our remit, but we may be able to touch on company management and directors responsibilities in future videos. Blessings
@@PuraTrack 💗
hi, can Company limited by guarantee apply for funding?
Hi, yes they can. Depending on the funding type/provider there may be specific requirements (such as having more than one director on the board or proof of charitable / community objectives) but the short answer is yes. Hope that helps.
Hello ma'am
There is a company(M/s Z), Which is limited by Guarantee.
Where Mr.A & B gave 10000 Guarantee amount and Company C Have 900000 Guarantee Amount,
Can I assume Company C holding more than a 50% stake in M/s Z(Which is company LImited by guarantee)?
Hi Manikanta, sorry but I don’t quite understand your question.
For the purposes of feedback, please sort the audio, it is so distracting and made me click off the video within 1 minute.
Hi Layaxx1 thank you for your feedback.
We have taken this on board and sorted out our audio since making this video, but have left this one up as many people still find it useful. Blessings!