PK Prosecution Ltd is a company limited by guarantee which is a legal structure used primarily by non-profit organizations, charities, clubs, and other similar entities.

The key features and characteristics of the company limited by guarantee are:

Limited Liability: Members of the company limited by guarantee are not personally liable for the debts and liabilities of the organization beyond the amount they agree to guarantee in the company's constitution. This means that their personal assets are protected in the event of the company's insolvency or financial difficulties.
Guarantee: Instead of owning shares and making financial contributions in the form of share capital, members of a company limited by guarantee agree to contribute a nominal amount (the guarantee) towards the company's debts if it is wound up. This guarantee is typically a small fixed amount, such as £1 or £10.
Members, not Shareholders: Unlike companies with share capital, a company limited by guarantee does not have shareholders. Instead, it has members who act as guarantors. These members may include individuals, other companies, or even other organizations.
Governance: The company is managed by directors who are appointed by the members. The directors are responsible for the day-to-day operations of the organization and for ensuring that it complies with relevant laws and regulations.
Non-profit Distribution: Companies limited by guarantee are generally established for non-profit purposes. This means that any surplus income or profits generated by the organization must be reinvested back into its activities or used to further its charitable or non-profit objectives. They cannot be distributed to the members.
Legal Entity: Like other types of companies, a company limited by guarantee is a separate legal entity distinct from its members. It can enter into contracts, own property, sue, and be sued in its own name.
Regulation and Reporting: Depending on the jurisdiction, companies limited by guarantee may be subject to specific regulatory requirements and reporting obligations, particularly if they are registered charities or non-profit organizations.
Overall, a company limited by guarantee provides a flexible and relatively simple legal structure for organizations that do not seek to generate profits for their members and have non-profit objectives at their core. It offers limited liability protection to its members while allowing them to contribute to and participate in the governance of the organization.