Category Archives: Community Interest Company

All you need to know about submitting a successful CIC application

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

webinar attendee at the keyboard...image
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

 

The CIC – our most popular call for support!

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 NoteWhen 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 NoteThere 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 NoteWhen 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