"And you still should James!
The issue we are discussing is true for all companies, including CIC. Separated out from tax, employment, company house law etc the CIC regulation and its requirements add perhaps 30 minutes of admin and an annual fee of…"
Definitely get someone with experience in this area involved, your accounts wont be much so you could try and attract some pro-bono help from a local accountant (and offer some positive PR) or have a look on accounts group
"This is an area based on very specific individual circumstances so we advise you receive professional advice, but very generically:
You need to break the work for the CIC into two types, that of a Director and that of day to day activity, for…"
I am thinking about CICs with a sufficient number of members (who may not all know each other), that formally electing directors, rather than just confirming their appointment by ordinary resolution, is relevant. I was thinking of GP commissioning groups and Nene Commissioning in particular, which serves Northants and which is registered as a CIC. However looking at their website, there is virtually nothing about governance or how they are funded, and you can become a 'member' without contributing any share capital. That seems just like a public relations exercise to me and the doctors just want to get rich off the NHS, hardly in the spirit of CICs. However if any of your members represent CICs with many members - probably hundreds at least - they might be interested in what I have to suggest. What do you think? Worth discussing or wasting people's time?