The company must display ‘Ltd’ after its name. This warns people who lend it money that its owners have limited liability and may not be able to pay back the debt.
The company is not allowed to advertise the sale of its shares and they cannot be sold on the Stock Exchange. This means that shares are usually sold to family, friends and business contacts.
There is no minimum value of shares that have to be sold when starting the company.
Limited companies are usually smaller than plcs, but there are examples of very large ‘Ltds’, e.g. Littlewoods.