Русско-англо-русский юридический словарь

A private company limited by guarantee (often shortened to “CLG”) is a UK company that doesn’t have share capital or shareholders. Instead, it has members who “guarantee” a nominal amount (commonly £1) to cover debts if the company winds up. This gives you limited liability – meaning members and directors’ personal assets are usually protected if something goes wrong, as long as they’ve acted properly. (Sprintlaw UK)