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James Macfarlane
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James Macfarlane replied to James Macfarlane's discussion Re: Trevor Saunders - Setting up a CIC. Ltd by shares or guarantee? in the group Setting up a CIC
"Hi Trevor Directors voting rights will be the same in a CLG/CLS. Members/shareholders voting rights may be different in a CLS, but CICs are generally used for socially democratic social enterprises, which are generally socially democratic and each…"
Jul 25
Trevor Saunders replied to James Macfarlane's discussion Re: Trevor Saunders - Setting up a CIC. Ltd by shares or guarantee? in the group Setting up a CIC
"Ive been told that CLG means that all 3 directors have the same voting writes ? Which would worry me if sometime down the road you could be voted out ? I was told that CLS means you can own 51% (or so) shares meaning you have final say as founder ?"
Jul 25
James Macfarlane added 2 discussions to the group Setting up a CIC
Jul 25
James Macfarlane replied to Miss Cordeillia Cooper's discussion Can I be a director and run projects? in the group Setting up a CIC
"Hi Cordeillia Just to check I understand the situation correctly, it this right? 1. you already have a non-CIC company 2. you are setting up a new CIC which will be applying for grants 3. you want to spend the grants received by the CIC on work…"
May 14
James Macfarlane replied to Tracey hemming's discussion Guidance in filling out a CIC application in the group Setting up a CIC
"Hi Tracey Depending on where you are in the country, there should be a social enterprise or voluntary sector support organisation that can help you set up a CIC. If nothing else, the CIC regulator can answer any queries you have and there's a…"
Apr 17
James Macfarlane replied to Vicky Flood's discussion How do I add members with companies house? in the group Setting up a CIC
"Hi Eleanor See my reply to Vicky above. The register of members is something you must create yourself for the company. An Excel spreadsheet works fine. However, I know that from last year companies have been given the option of keeping their…"
Apr 7
James Macfarlane replied to Vicky Flood's discussion How do I add members with companies house? in the group Setting up a CIC
"Hi Eleanor If they are no longer interested, they will have to resign as members before you can remove them from your register. It depends what's written in your articles, but they can usually resign in writing. You will then enter the date of…"
Apr 7
James Macfarlane replied to Sister Ashley Williams's discussion A CIC Limited by Guarantee. in the group Setting up a CIC
"Yes, the model CIC36 form is very cluttered. You can just delete the words "community interest company" and insert the full name of your CIC. I have attached a lightweight version of the form that I use. Yes, authentication means signature."
Apr 7
James Macfarlane replied to Sister Ashley Williams's discussion A CIC Limited by Guarantee. in the group Setting up a CIC
"If you are looking for grant funders you will probably need more than one director. However, turning to your questions - a) You can put any amount and use any currency, but in practice people put £1 as a nominal amount. b) Not a huge advantage…"
Apr 6
James Macfarlane replied to Max Jamieson's discussion Just registered a CIC limited by guarantee and need some advice!! in the group Setting up a CIC
"Glad we could help out anyway."
Feb 9
James Macfarlane replied to Max Jamieson's discussion Just registered a CIC limited by guarantee and need some advice!! in the group Setting up a CIC
"Yes, that does sound dodgy. All assets are 'locked' in a CIC and must only be used for the benefit of the community, so you can pay market rate salaries, but not £80,000 profit. There's lots of good software for PAYE, but…"
Feb 9
James Macfarlane replied to Max Jamieson's discussion Just registered a CIC limited by guarantee and need some advice!! in the group Setting up a CIC
"Hi Max A company's accounting year normally ends at the end of the month the company was incorporated in. If you've chosen 30th June that shouldn't matter, though. Corporation tax is paid on profits, not total income. You are correct…"
Feb 8
James Macfarlane replied to Mrs Alana Black's discussion Sole Trader or CIC - unsure? in the group Setting up a CIC
"Hi Alana CICs are generally used by social enterprises (businesses that operate for social/charitable purposes). If you are wanting your business to be a social enterprise, and be able to apply for grant funding (e.g. from the Big Lottery Fund), you…"
Jan 11
James Macfarlane replied to Mike Roberts's discussion Feedback on CIC 36 in the group Setting up a CIC
"Sorry for the delay, for some reason I didn't get an email notification about this post, but luckily noticed it! That looks good to me, but a few comments/suggestions... Section A is just about beneficiaries, so you don't need to go into…"
Jan 6
James Macfarlane replied to HANNAH THOMAS's discussion Removing an Asset Locked Body - Advice!
"Hi Hannah The CIC legislation doesn't require this. If there isn't any sort of agreement between your CIC and them that they be listed, and indeed they don't even know they are listed, then I see no obligation to tell them or seek…"
Jan 6

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