Can IRIS create Companies Limited by Guarantee?
- Article ID
- ias-12211
- Article Name
- Can IRIS create Companies Limited by Guarantee?
- Created Date
- 11th December 2015
- Product
- IRIS Accounts Production
- Problem
- Can IRIS create Companies Limited by Guarantee?
- Resolution
- Companies Limited by Guarantee can be produced in Accounts Production, a Limited Company can be set up as normal and the screens for Shareholdings and Share Capital are simply not completed.
The main difference between a Normal Company and that Limited by Guarantee is the absence of shares.
The ‘Directors’ report’ will show the directors’ and disclose that they hold ‘no beneficial interest’.
- If any further disclosure is required it can be entered in the Data Screens.
Select Edit | Data Screens | Report of the Directors | Directors | Directors Information
Enter the additional information in the ‘Additional/replacement text’ box.
A ‘Called up Share Capital’ note will NOT be produced as NO shares will be posted.
- If a note is required for any disclosure, a Freeform Note will need to be entered.
Select Edit | Data Screens | Notes to Financial Statements | Freeform Notes | Freeform Note 1
The business name may also need to include that the company is ‘Limited by Guarantee’ as well.
Select Client | View
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