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.
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.
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.
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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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
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'.
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
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
Yep, mostly we find it's the 1N01 that is the issue.
thanks I will pick the form apart and get back to you I think it is mainly terminology
What dont you get Caroline? If you let me know the particulars I can try and help
John
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
Hi Caroline
What's the problem? Happy to help if I can
John
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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