We are a social enterprise and our legal structure is set up as a company limited by shares with ourselves (myself and my partner) as shareholders and directors. Having traded for a year now - we have identified that we are indeed a Community Interest Company and are looking into applying to the Regulator to transfer.
We would like to be able to access grant funding to pay for various projects where young people can come on our Forest Schools Programmes. We have been advised that grant awarding bodies will look more favourably at us if we are an official cic or charity - however, we have rather an entrepreneurial spirit and don`t want to become a charity.
My question, with regards to being a cic - will our company limited by shares, be recognised equally with a company limited by guarantee when it comes to grant applications and if not, what will be the difference???
Not too ofay with the ins and outs of company legal structures and our local accountants can`t help us either as they don`t know about CIC`s!!!! (Yet!)
Any thoughts would be much appreciated.
Clair & Scott