Can't see a good reason to have a ltd company rather than a syndicate, a ltd company ties you much more and is harder to sell a piece of from a legal perspective. Check with a lawyer before getting in to it, I've seen a few people set this up as a Ltd company and ended up being tied to a total arr-soul.
A Syndicate is merely a way of dividing ownership, the worst that can happen is that someone runs off with the engine fund.
That is not the case.
The rules of a company are equally covered by the m and a s, and the shareholders agreement as a syndicate agreement. Moreover the rules are likely to more clear because there is a well established infra structure for setting up a company. Shares are at least as good a vehicle for selling a part owbership as anything.
Sorry, but there is no validity to your view.