CIC Association

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Setting up a CIC

Guidance on how to set up a CIC especially where communities need to work together before they actually create the CIC e.g. collect funds commission work from advisors ahead of formation as some market testing or preparatory work

Members: 198
Latest Activity: Mar 8

Discussion Forum

Amending Articles of Association for 1 Director and 1 Member 3 Replies

At the moment there will just be one Director who also will act as the sole member.  In the future there will potentially be opportunities for other Director's and members to come on board.Should I…Continue

Started by Ariane Mercurius-Taylor. Last reply by Ariane Mercurius-Taylor Feb 20.

Professional Body as a CIC 4 Replies

Dear all, I am a director of a Professional Body for Private Tutors and we are considering converting our company limited by guarantee into a CIC. We are seeking funding so that we can expand our…Continue

Started by Ariane Mercurius-Taylor. Last reply by Ariane Mercurius-Taylor Feb 9.

Can I sponsor (LTD) my CIC? 2 Replies

Hi,First of all, I would like to thank for taking the time to help me out with my questions.I would like to set up a CIC with my wife (two directors), for activities we have been doing for the last 6…Continue

Started by Emil Glownia. Last reply by Emil Glownia Jan 20.

Re: Sue Westwood 3 Replies

In reply to your question on the comment wall:Subscribers are your initial members. Directors and the company secretary can be (but do not have to be) members. Employees are a different category, so…Continue

Started by James Macfarlane. Last reply by Sue Westwood Jan 15.

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Comment by caroline wheeler-evans on April 5, 2017 at 8:27

Hi might sound a silly question but if I am setting up a CIC am I  a director ? Also how many directors should there be and if so how much say do they have in the business and or entitlement to any profit ? Thanks

Comment by James Macfarlane on April 4, 2017 at 9:31

Re: Sky

Being a CIC (as opposed to a 'regular' limited company) would usually make you more likely to obtain grant money as most funders will require an 'asset lock'.

A PLEA!!!!!! Could people create separate posts to ask questions? It makes it so much easier to follow replies than with comments on here. It's not very intuitive - you have to click 'add a discussion'.

Comment by Donald (Sky) McCain on April 4, 2017 at 9:04

Hi!

I'm advising a group of elders who have come together to set up a senior Co-housing company that will hold the title to the land and lease us plots for our privately owned dwellings.  Each homeowner will be a director of the limited company.

My question is:  Supposing our objectives are "in the interest of the community." would being a CIC make us more likely to obtain grant money?  

Thanks in advance to anyone who has information or has experienced this situation and is willing to comment.

best Wishes,

Sky

Comment by John Mulkerrin on April 3, 2017 at 15:17

For wider readerrs, the paperwork breaks down into four bits:

1. Company House 1N01 - Basic info about the type of company (Limited hby Share, Limeted by Guarantee, Co-operative etc) and details of directors/persons of significant control

2. CIC 36 - This is what is used to approve CIC status on the company (What are main activities, What is community benefit)

3. Articles of Association - you can use the CIC Regulator templates for most circumstances. These are the rules of the CIC, how to appoint/terminate directors, voting rights etc

4. Memorandum of Association -  a legal statement signed by all initial shareholders/members agreeing to form the company

Comment by John Mulkerrin on April 3, 2017 at 15:10

Yep, mostly we find it's the 1N01 that is the issue.

Comment by caroline wheeler-evans on April 3, 2017 at 14:57

thanks I will pick the form apart and get back to you I think it is mainly terminology 

Comment by John Mulkerrin on April 3, 2017 at 14:55

What dont you get Caroline? If you let me know the particulars I can try and help

John

Comment by caroline wheeler-evans on April 3, 2017 at 14:53

Hi John your helpful would be brilliant ! I am in the process of setting up a company and I am sure it comes under the umbrella of a CIC. However I have plenty of experience in the content of the company but none of filling out the forms. I have an understanding of what a CIC is and how it works but the forms are giving me nightmares ? I have looked at the Guidance but am still not really getting it ?? Thanks

Comment by John Mulkerrin on April 3, 2017 at 14:36

Hi Caroline

What's the problem? Happy to help if I can

John

Comment by caroline wheeler-evans on April 3, 2017 at 13:44

Hi I am struggling to understand all the jargon on the CIC form and am having problems finding anyone to help me I have read the paper work stuff and still have v limited understanding is there anyone who could give me a hand I would be really grateful. thanks. 

 

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