Setting up a Ltd Company to manage local play area?

[parisbynight]

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?

All remarkably quick and cheap and easy IF, and only IF, you know what you're doing. It's also VERY easy to make mistakes and set it up wrongly, especially as regards share capital, shareholders, etc (which are required). You will also have annual accounts to prepare in format Companies House format and have to liaise with HMRC as regards corporation tax returns, etc. If you've someone on your "committee" who knows the ins and outs of limited companies (i.e. an accountant or someone working in an accountants office) then probably very do-able at minimal cost. If not, you really do need to factor in the costs of an accountant to give some proper advice and ongoing annual accounts preparation.