The Compendium

A Comprehensive Companion for All in the Insolvency and Restructuring Profession

Then you just proceed in increasing numbers; AM02, AM03, etc.

If you type in DS0_, you can find the forms to update the details of a company on the Register of Companies.

If you type in ‘DS’ and then a number, you will access all the forms about dissolution. For example, DS01 is used to voluntarily dissolve a limited company.

If you type in LIQ0_ you will find forms about Liquidations and Liquidators.

If you type in the letter ‘RP’ followed by a number you will access the forms used to register redundancy payments. For example, ‘RP1’ is used to claim redundancy pay and other statutory entitlements including pay in lieu of notice, holiday pay, and arrears of wages. Then you increase the number numerically, to RP2, RP3, etc.

[See ‘Companies House’, ‘Register of Companies’, ‘Administration’, ‘Liquidation’, ‘Limited Company’ and ‘Redundancy’.]

Companies Limited by Guarantee

Companies Limited by Guarantee are an alternative form of company entity to the usual one of share capital (above). Its members being guarantors rather than shareholders.

A company is a legal entity in its own right, contracts are undertaken in the name of the company thereby protecting the liability of the individual members, who may only be involved voluntarily. Such contracts include the usual employment contracts, contracts for the purchase of goods as well as for the purchase of property.

Members of a company limited by guarantee are required to comply with the same legal rules and regulations as other limited companies.

A key advantage of such a company over a Ltd or PLC is that the personal assets of the members are not vulnerable if the company becomes insolvent. However, such protection is only available if the management committee/trustees/board can demonstrate that it has acted with ‘due care and diligence’.