Company Limited by Guarantee
Welsh Fencing is a limited company (limited by guarantee). This type of limited company is commonly used for a club or an association. This will have limited liability - the liability of its members being limited to the amount each member undertakes to contribute to the assets of the company in the event of its being wound up, normally £1.
No shares are issued. This type of limited company has members. The members agree to contribute a membership fee or subscription, normally have equal voting rights and elect a board of directors. Any profits (often known as "surpluses") are not distributed as dividends, but may be used to support the activities for which the club is formed.
Memorandum of Association
The Memorandum of Association is one of a number of documents required to incorporate a UK company. It sets out the company's name, where the registered office of the company is situated (in England, Wales or Scotland)
Articles of Association
The Articles of Association is also required to incorporate a UK company. Its clauses cover the roles of members and what it will do (its objects). The object of a company may simply be to carry on business as a general commercial company or support community activities in a club or association.
This document defines the specific regulations around the various types of Membership. This has been created as a separate document as it is more likely to change over time.
As from the 1st. March, 2016:
- the above categories apply for each existing member until the date of his/her first renewal of membership.
- in addition to the above, the Members of Welsh Fencing shall be all fencers over 18 years of age who have subscribed to British Fencing and Welsh Fencing under the following categories:
- Starter Fencers
- Recreational Fencers
- Competitive Fencers.
For further information you can visit the Companies House Website: http://www.companieshouse.co.uk/