What are authorised shares?
For companies incorporated after 1st October 2009, the concept of an authorised share capital has been scrapped by Companies House.
For companies incorporated before 1st October 2009, these are the total number of shares that it is possible for your company to issue. On incorporation, the number of authorised shares is usually 1000. The number of authorised shares is often different from the number of issued shares.
In terms of who owns the company, the number of issued shares owned will be the determining factor.