Category Archives: Community Interest Company

Community Interest Co’s – forms and action guides…

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On the 11th October 2022 the Business and Industry pages, of Gov.uk, were updated with revised guidance and forms to help you start your new CIC.

 

 

 

 

”The revised content, linked to below, contains the following…

  • Handy Hits and Tips before completing your CIC application
  • form a CIC online or by post
  • form a community interest public limited company (plc)
  • convert an existing company to a CIC
  • convert a charitable company to a CIC
  • convert an industrial and provident society (IPS) to a CIC
  • convert a private company to a community interest plc
  • convert a plc to a community interest plc
  • change or specifying an asset-locked body in the articles of association
  • alter clauses in the articles of association
  • alter the object statement of a CIC
  • change the status of a CIC to a community interest plc
  • convert a CIC to a charitable company
  • convert a CIC to a Charitable Incorporated Organisation (CIO)
  • convert a CIC to an IPS
  • arrange the voluntary dissolution of a CIC
  • file an annual CIC report and accounts online or by post

It includes links to the appropriate forms, model constitutions (including the memorandum of association and articles of association) and model special resolutions”.

Source: https://www.gov.uk/government/publications/community-interest-companies-business-activities

This is an invaluable guide to anyone thinking of starting a CIC to deliver community facing business activity – the whole designed to be for community benefit, rather than personal profit.

SocEntEastMIds offer a range of supportive services and supplies to help you achieve your community business aims. We deliver them at no charge.

See our support offer here: http://www.miningtheseem.org.uk/?page_id=918790

Office image: Christina Morillo, Creative Commons, Pexels.com

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Sharing wisdom – creating early stage growth…

All you need to know about submitting a successful CIC application

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From the Office of the Regulator of Community Interest Companies

Sign up to our “All you need to know about submitting a successful application ” webinar taking place on 25th February 11am-12pm here

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Preparing for my webinar!

‘This is your chance to get some tips on how to complete a successful application of incorporation or conversion to a community interest company, and to acquire further information on what the Regulator looks at when considering an application and solutions to the common errors that we see.’

 

 

You can sign up for this helpful event here: https://register.gotowebinar.com/register/5109013132460694030

Webinar image: Austin Distel, Creative Commons, Unsplash

 

Refreshing the Board?

Charity, Community Interest Company, Explanations, Governance, News, SocEntEastMids

It’s always a good time, at the start of the New Year, to revisit your priorities, aims and ambitions. The links below are for charities and small  organisations to use as free resources for conceptualising governance review or business re-appraisal activities.

They are not exhaustive, but they can help provide ideas and a framework for assessment, change and re-energising in the New Year. We hope that you find them useful?

Essential trustee videos – a series from The Foundation for Social Improvement:

 

These audio-visual short films can help you determine your thinking on…

  • Your purpose and pubic benefit.
  • Compliance and acting in the organisations’s best interest
  • Utilising your resources responsibly and acting with care and with responsibility

You can find them here

Membership of FSI is free, and you can locate membership details here.

Supporting small charities – a collection of free resources from Lloyds Bank Foundation in England & Wales

”These toolkits have been developed in partnership with Lloyds Banking Group and our experts to provide practical support and guidelines on best practice for charities.”

We liked these resources a lot. They are comprehensive, often surprising in their content, and free to use. This is definitely a web site to explore. Whether you are planning something new, pondering change or looking to solidify your governance with confidence.

Discover Lloyds Bank resources here

ReviewingDocs image: Tiger Lily, Creative Commons, Pexels.com

 

The CIC – our most popular call for support!

Community Interest Company, Enterprise Start-ups, Governance, SocEntEastMids, , , ,

By far the most numerous query we get, both for sources of information, or for direct advice and guidance, is around the governance, formation and change relating to Community Interest Companies.

Below are links to the latest forms, examples and formal guidance notes on Gov.uk – if we can help with your changes, formally or informally, do  just ask – our services are free.   (Sourced: August 2020)

Board meeting image: You X Ventures, Creative Commons, Unsplash

Forming a CIC

Key link https://www.gov.uk/government/publications/form-cic36-application-to-form-a-community-interest-company

Formal Note ‘When applying to form a community interest company (CIC), this form should be submitted to the CIC Regulator alongside the appropriate Companies House forms, memorandum of association, articles of association and payment’.

Transfer of Assets

Key link https://www.gov.uk/government/publications/cic53-application-to-transfer-assets

Formal Note ‘When applying to transfer assets of a community interest company (CIC), consent should be submitted to the CIC Regulator signed by a director of the company, detailing assets, value and actual consideration received’.

The CIC Report

Key link https://www.gov.uk/government/publications/form-cic34-community-interest-company-report

Formal Note ‘There are 2 types of community interest company (CIC) report: detailed and simplified. The majority of CICs complete the simplified report.

The detailed report is reserved for CICs that have more complex financial arrangements. If you complete this type of report, you might need to get professional advice in relation to the financial information sections.

CIC reports are placed on the public register and made available for the public, which provides an opportunity to showcase your CIC’s activities and the benefits provided for the community over the last year. Your report does not have to be especially detailed, but you should identify highlights’.

Converting a Company to a CIC

Key link https://www.gov.uk/government/publications/form-cic37-application-to-convert-a-company-to-a-cic

Formal Note ‘When applying to convert a company to a community interest company (CIC), this form should be submitted to the CIC Regulator alongside the appropriate Companies House forms, memorandum of association, articles of association and payment’.

Change of Objects

Key link https://www.gov.uk/government/publications/form-cic14-altering-the-objects-of-a-community-interest-company

Formal Note  – The community interest statement
‘…a statement of the steps that have been taken to bring the proposed alteration to the notice of people affected by the company’s activities (signed by each of the company’s directors).

When applying to alter the objects of a community interest company (CIC), this form should be submitted to the CIC Regulator alongside:

Companies House form CC04 – to notify the change of the company’s objects
a signed copy of the special resolution to alter the objects of the company
a copy of the articles of association, as altered’.

See also https://www.gov.uk/government/publications/notify-the-change-of-companys-objects-cc04

Other Useful Links:

Office of the Regulator of Community Interest Companies

The Community Interest Company Blog from Gov.uk

Dissolving a Community Interest Company from Voluntary Action: South Lanarkshire