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
‘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.’
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
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.
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)
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’.
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’.
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’.
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’.
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’.