Profit is not counted before wages. Wages are the primary expense in a software company. This means that the company is sort of break-even, but only when paying below market rate wages. Perhaps a little confusing is that the term "ramen profitable" is mostly a euphemism, not actual profitability.
Anyway, it's different in the UK, a company needs a minimum of 2 officers, you can be a sole-trader though. A sole-trader takes drawings from their business account, but it's not necessarily the whole revenue less costs - you might be saving for capital investments and you wouldn't want to pay income tax and Nat.Ins. on that money.
In the UK the owners of a company can be employees too, you can then get money as wages as well as getting dividends as an owner.
[Disclaimer: I'm not a financial advisor, check this detail before relying on it.]
You're quite right though, see Ch.2 at https://www.gov.uk/government/uploads/system/uploads/attachm....
or see https://www.gov.uk/limited-company-formation/appoint-directo....
Unfortunately I can't add an errata above as editing that post is no longer allowed.
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