When forming a company that is limited by guarantee (not for profit) the memorandum and articles of association may require a set of ‘objects’ to be included.
Limited by guarantee articles of association will be prepared in advance with the clauses that your company needs to operate effectively.
Certain articles will also require you to supply your own bespoke objects that detail why the company is in existence. They summarise the main purposes that the company is in existence within several sentences. Whilst we do see some companies objects written into numerous points most companies keep them succinct in two to four bullet points.
The following sample company objects are provided to give you an understanding how to format objects and provided as a guide only. Please consider carefully what to include in your own objects.
Sample objects for a football club
1) To provide football facilities and training for 8 to 16 year old children within the London area;
2) To raise funds to pay for football equipment, training kit, training facilities and coaching;
3) To encourage a healthy lifestyle through participation in football;
4) To involve the local community in the development of the club and to raise awareness of the benefits of football;
5) To create a diverse and welcoming environment for all participants.
Sample objects for a company targeting poverty
1) To relieve suffering caused by poverty within the North West of England
2) To promote and protect the physical and mental health of the people affected by poverty through the provision of counselling, support education and practical advice;
3) To advance the education of the general public in all areas relating to poverty;
4) To relieve persons who are mentally or emotionally affected by poverty through the provision of a counselling service.
5) To pursue any other aims in support of the objects of the company.
The objects of your company will be driven by your reasons to start the company. Draw upon your knowledge and consider what you want the company to achieve.