"Hi Angela - a few snippets for you, I found myself in a very similar position 6 months ago ! First ensure you understand what your organisations objectives are and where funding support is required, else you will get pulled left right and centre and…"
Serving Community Enterprise
Ian Burnett's Discussions
CIC Heritage Skills on Offer
Hi all,Orchard Barn CIC are a Rural Crafts Centre in Suffolk specialising in developing natural and sustainable building skills, e.g. oak timber work, clay rendering, cob walling, traditional hedging…Continue
Started May 20, 2012
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CIC Heritage Skills on Offer
Hi all,Orchard Barn CIC are a Rural Crafts Centre in Suffolk specialising in developing natural and sustainable building skills, e.g. oak timber work, clay rendering, cob walling, traditional hedging etc. We are wondering if any other Community CIC's would like to colloborate on a heritage restoration/conservation project. If you have a local (possibly grant funded) community project to retain local heritage (a period or listed building for example) then we could work with you and…See More
John Mulkerrin replied to Ian Burnett's discussion CIC Lease arrangements in the group Accounts Group"There are and could be a million ways to make this work Ian, why not simply take up the offer of not paying until the CIC is in profit, then re-assess the situation? I take your point on it being difficult to price, but square footage benchmarks are…"
"Hi John - thanks for this. Good suggestion although we have been advised that a market rate is extremely hard to determine as there are no comparable examples of a Rural Crafts Centre in the region (it is a rather unique facility). May be…"
John Mulkerrin replied to Ian Burnett's discussion CIC Lease arrangements in the group Accounts Group"One thought on this Ian is to put a cap the maximum figure to the market rate. ( this could be set by aggregating three independent rental assessments) Although highly unlikely the risk that the agreement could contravene community interest…"
CIC Lease arrangements
Appreciate if any CIC's out there have tackled a situation like ours and can share your experience. Our CIC is setting up a Rural Crafts Centre and will be leasing the land and buildings from one of the Directors. We know this must be open and transparent and have a solicitor preparing the lease agreement to ensure this is the case. Our CIC will be making losses for a couple of years and as a genuine offer the director concerned has offered to not require a rental payment until the CIC is…See More
"Thks Adrian, very useful. Will follow these steps.
One further point if I may...
Is it necessary to specify a specific term for the directors loan or can it be left open ended ? I presume with the former, it means the…"
Adrian Ashton replied to Ian Burnett's discussion Directors Loans - can anybody give me some guidance pls ? in the group Accounts Group"hi Ian - some good guidance via the BusinessLink website on directors' loans http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1082155860
but if the person is offering the loan without interest or other charge, then they won't be…"
Directors Loans - can anybody give me some guidance pls ?
Dear all - we are a small CIC set up to run a Rural Crafts Centre and develop traditional skills in the community. Establishing the Rural Crafts Centre involves development of a physical training centre. One of our directors has offered the CIC a £10k interest free loan in order to help fund the development work. Can anybody advise whether there are any risks in terms of tax liabilities, things to watch out for either the CIC or the Director who is making us this generous offer ? See More
Accounts Group
For any accounting related queries, including accounts software package questions, grants and trading income treatment, HMRC or Companies House queries/issues, tax reliefs for CICs, links to useful finance information etc
Profile Information
- What is your postcode?
- IP144EZ
- Name of organisation (if any) you are associated with?
- Orchard Barn environmental education (OBee)
- Is that organisation a CIC?
- Yes
- If you have a website, what is your web address?
- http://www.orchardbarn.org
- Are you interested in representing a CIC at the CIC Association AGM?
- No
- Are you interested in working in partnership with the CIC Association?
- Yes
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CIC Association Developm…
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Accounts Group
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South West
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Setting up a CIC
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