A private limited company is the most common type of limited company registered in the UK. It is comprised of 2 to 50 shareholders who have limited liability for the company's debts. To set up a private limited company, documents including the memorandum of association, articles of association, and list of directors must be filed with the Registrar of Companies to obtain a certificate of incorporation. Once incorporated, a private limited company allows shareholders to retain control over the company's destiny rather than risk losing control by offering shares publicly.