Helensburgh Heroes is a company limited by guarantee, and is registered in Scotland as a Charity.
A guarantee company does not usually have a share capital, but instead has members who are guarantors instead of shareholders. The guarantors give an undertaking to contribute a nominal amount (in this case £1) towards the winding up of the company in the event of a shortfall upon cessation of business.
Like a private limited company, a company limited by guarantee must include the suffix "Limited" in its name, except in circumstances specifically excluded by law. One condition of this exclusion is that the company does not distribute profits and this is the case with Helensburgh Heroes.
Common uses of guarantee companies include clubs, membership organisations, sports associations workers' co-operatives, other social enterprises, non-governmental organizations (NGOs) and charities (such as Oxfam).
Helensburgh Heroes' Directors are also Charity Trustees for the purposes of Charity Law and are known as members of the Company's Management Board. This Board is elected, for a set period of time, by other members at an Annual General Meeting (AGM). All members of the Management Board work on a voluntary basis.
Helensburgh Heroes is currently seeking several people to sit on the inaugural Management Board and interested parties should contact us now.
27 EAST MONTROSE STREET
Company No. SC343552
Charity No: SC040114
Date of Incorporation: 28/05/2008
Date of Charity Registration: 08/12/2008
Country of Origin: United Kingdom
Company Type: PRI/LBG/NSC/S.30 (Private, limited by guarantee, no share capital, section 30 of the Companies Act)
Accounting Reference Date: 31st May