I see no reason why not. If your LTD co is giving money to your CIC without getting anything in return, it is essentially making a donation/gift to a good cause. Companies often make donations to charities and other good causes in their…"
"Yes, the PSC register was introduced to increase transparency and is separate to the registers of members and directors. I'm not an expert on it but think you only need to register people with 25% or more of voting rights, if you have 5 or more…"
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 don't think about them for now. Also, the asset lock is a different thing to limited liability. It is limited liability that protects your members from having to pay wind up costs. Generally you would go with £1 as an amount guaranteed.See More
"The BLF generally wants at least three unrelated people on the board. I don't think this means all directors have to be unrelated, so in your case you would need an additional director to make a total of four."
"Would they need the permission of the CIC regulator to transfer their activities and assets to the new CIC ltd by guarantee? Also I presume that the Directors need to put a special resolution to the shareholders to agree to the…"
"You can generally assign the partnership's debt to the CIC but you would need permission from your suppliers, lenders, etc, and if the CIC hasn't been trading an has no track record they are unlikely to provide this."
The word "convert" is misleading. What happens is you would incorporate a CIC, and then the CIC would buy (or be gifted) the assets of the partnership and take over running its business. Yes, a CIC is a type of limited…"
"Hi Suzanne, if you have an accountant or a solicitor, they will usually let you use their office address. Alternatively, if there is a social enterprise support organisation in your area, they might let you use theirs."
In reply to comment by Hilary Sudbury "is it possible to convert from a CIC Ltd by Share to a CIC Ltd by Guarantee?"A company limited by shares cannot be converted to one limited by guarantee (or vice versa). If you want to do this, the process is to register a new company and transfer the assets of the old company to the new one. As each company is required to have a different name, you will have to change the existing company's name first, so that the new company can be registered in the…See More