---
title: Understanding different company roles
description: Company Roles Explained
---

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1. [Form a Company](https://help.1stformations.co.uk/form-a-company?hsLang=en-gb)
2. [Company Roles Explained](https://help.1stformations.co.uk/form-a-company/company-roles-explained?hsLang=en-gb)

# Understanding different company roles

## Learn about the key roles in a limited company

### Shareholders

Shareholders own one or more shares in a company, making them a part or full owner. They are usually entitled to a portion of the company's profits (paid as dividends) and often have voting rights for major company decisions.

### Directors

Directors are legally appointed to manage the company’s day-to-day operations, ensure the company meets its legal and financial obligations, and make important business decisions for the benefit of the shareholders.

### Persons with Significant Control (PSCs)

PSCs are individuals or entities who have significant influence or control over a company.

### Company Secretary (Optional)

A company secretary provides legal and compliance assistance to the directors and shareholders. Duties may include statutory filings and creating and maintaining statutory documents, such as company registers.

 

💡 In a limited by shares company, the same individual can hold multiple (or all) positions.

### Guarantors *(applicable to limited by guarantee companies only)*

Guarantors provide a nominal financial commitment to cover the company's debts if it is wound up.

### Members *(applicable to LLPs only)*

Members take part in running the LLP, share in its profits, and benefit from limited liability. An LLP must have 2 Designated Members at all times who are responsible for statutory filings.

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