The overwhelming majority of companies registered at Companies House are standard limited companies (more formally known as private companies limited by shares). If you are forming a company with a view to making a profit then a standard limited company is probably appropriate for your needs. We would recommend that you do not form a Company Limited by Guarantee or a Public Limited Company unless you have a specific reason for doing so. Features of a standard limited company: Benefits from Limited Liability. Suitable for most commercial purposes. It only requires one person to form this type of company. Does not require a Company Secretary. Is not obliged to have its accounts audited by an accountant if it is a small company. Can be converted into a Public Limited Company at a later date.