Setting up Ltd Company for local play area

[parisbynight]

(I've also posted this in Work/Startups but duplicating here for traffic, hope that's ok).

Can anyone advise how easy it is to set up a limited company without prior experience, and without resorting to an 'agent' to help?

Background: I'm part of the committee responsible for our local play area committee. We desperately need to raise funds to have it re-equipped after the original equipment was condemned. To do that, we need to have a lease in place from the landowner. We've got as far as understanding that we'll need to be some kind of legal entity in order to have the necessary capacity to take out that lease - either a CIO or a Ltd Company. Setting up as a CIO will take approx 3 months if we're lucky so we'd like to try the Ltd Company route as it should be much quicker. No employees, no shareholding, no assets as such aside from the lease and the play equipment.

Can anyone help?

It's takes just a few minutes on companies house. However I would chat to an accountant beforehand as they can advise on the best way to set up.

It’s really not that difficult to do if you have team members in professional/office jobs who are used to paperwork. I used to be Involved with a very small charity incorporated as a ltd co, and it was fine. Companies House website will talk you through everything: the worst bit may be jumping through the money laundering hoops to get the bank account.

Thank you both, that is reassuring! We already have a bank account in the name of the committee as it stands so hopefully it won't be too difficult to change the name of the account holder.

We've already been advised that we need to be a company limited by guarantee, but I can't seem to find the process for this online. Info on gov.uk about setting up a company seems to focus solely on companies limited by shares...www.gov.uk/limited-company-formation
Can anyone point me in the right direction?

It's your articles of association that govern the limitation terms.

Info here, with samples of articles for various company types:

www.gov.uk/guidance/model-articles-of-association-for-limited-companies

Please be aware that if you are a director of this company, it is a position to take seriously and you should make yourself aware of the responsibilities bestowed upon you by the Companies Act 2006.

Might it also be worth registering as a charity?

Sorry for the delay in reappearing and thank you for your input (and @kazzyhoward from the startups thread)

We initially looked at charitable status but the length of process would exclude us from what is likely to be our best chance at local funding (applications close in a few weeks time, charity registration likely to take 3 months).

Now leaning towards incorporation, using an accountant as agent (sadly no such professionals on the committee although we do all work).

Although also now in limbo pending confirmation that the landowner will grant a lease to a limited company! Anyone know whether Parish Councils are precluded from leasing land to a ltd company?

There's no legal reason for them not to, but they may have a policy of not doing so, worth checking.

If you can't be a charity you could incorporate as a Community Interest Company, so all the profits are re-invested into the company rather than distributed to shareholders. Basically you're in business to do good in the community.