https://find-and-update.company-information.service.gov.uk/company/11694875
Farage is the only individual with ‘significant control’ according to Companies House. He holds 8 of the 15 shares in the company. And has done since it was established.
In practical terms it means what he says goes within the company/party. It might have members but there are no processes where members shape policy or strategy. When Farage decided he would become leader it was simply his decision. No election or consultation.
It seems Farage is doing this to avoid the chaos that surrounded UKIP. The current arrangements must more complex than appears. Reform are attracting a huge number of "members" who pay a fee. Also people like Nick Candy and Charlie Mullins have made big contributions. What are they members of? Not the company presumably, but since the Electoral Commission has approved the arrangements, there must be strict obligations on how the money is spent. Tice's payments are loans apparently, presumably unsecured. Zia Yusef has given around £200k. Small beer compared with what the main political parties spend at a GE.