Id need to know a little more but I would suggest looking at a CIC CLG (Company Limited by Guarantee) in the first place.This is the same structure used by most Charities and is easily recognised as a not for profit, which organisations like the Arts Council prefer.
Get plaenty of advice before you make a decision, posting any questions onine is a good idea and im happy to arrange a telephone chat.
Once you've had a root through feel free to ask questions in the Forum (there is a setting up a CIC group that should be of interest) The paperwork isnt too bad, far better to make sure you have lots of good advice before you proceed.
Grants are available to voluntary organisations for a variety of community and environmental initiatives within Lancashire. Projects must: provide public amenities, conserve a natural habitat/species, or restore historic, architecturally interesting or religious buildings.