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CIC Governance

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This group is intended to help CIC's with how they are managed, led and held to account.

Members: 59
Latest Activity: Dec 24, 2020

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Accounting Error 4 Replies

HiWe set up our CIC in June last year. We've been taking money for living expenses as drawings. I know now that this isn't the correct way to do things. I know we need to invoice as another entity or…Continue

Started by Wenderlynn. Last reply by Mahmood Reza Nov 9, 2020.

Directors as employees

I have been helping newly established CICs find funding and keep track of their bookkeeping.A number of them are now looking to make their voluntary work into a paying job.They do things like teach,…Continue

Started by Louise poor Aug 16, 2020.

Registering additional directors for a CIC 5 Replies

Hello,I would very much appreciate feedback and guidance in relation to these no doubt seemingly simple queries that are cause for current concern. I set up a CIC limited by guarantee last December…Continue

Started by Daniel Wood. Last reply by Mark Trotter Feb 21, 2020.

Appointing a NED

Hello all,I am entering year of two running a CIC as the sole director, but with someone acting as the second bank signatory.I have now hit the age old problem of needing two or more directors to…Continue

Started by Ali Strow Sep 9, 2019.

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Comment by Allan Craig Muirhead on February 22, 2018 at 16:29: Sorry - post below refers to Heritage Lottery Fund, not the National Lottery Fund. Still appreciate any help, thanks.

Comment by Allan Craig Muirhead on February 22, 2018 at 16:28: The Kirkby Lonsdale & Lune Valley CIC is making an application to the National Lottery Fund and is being asked about its constitution. To the best of our knowledge we have only ever filed an annual report to Companies House which sets out who we are and what we do. Is this annual report likely to be accepted by the Heritage Lottery Fund as the appropriate information? Not sure how to check back for replies to this so if anyone can help, please copy answer to myself at allanmuirhead@icloud.com Thanks in advance.

Comment by Ariane Mercurius-Taylor on February 7, 2018 at 10:30: Dear all, I am a director of a Professional Body for Private Tutors and we are considering converting our company limited by guarantee into a CIC. We are seeking funding so that we can expand our membership reach and assist with events during the year to benefit our community of Tutors which will serve to benefit the students we tutor.

1. Would the Association would qualify to become a CIC?

2. What grants or donations may be available to the Association a. as it is currently formed and b. if it was able to register as a CIC?

3. Would CIC registration restrict the activities of the Association as a professional body?

I appreciate your feedback in advance. Ariane

Comment by Claire Hunt on July 6, 2017 at 16:38: Voting Rights of Non Executive Directors.

We would like to appoint some Non Executive Directors but we want to limit their voting rights to exclude certain things. Does anyone have examples of the sort of voting rights that you can you exclude without making their appointment meaningless, and how do you do it because the form you fill in for a non-executive director is the same a for a Director? We would for instance want to limit their ability to vote to sack us, the two founding Directors, without an extremely good reason!

Comment by Neil Blackwood on April 26, 2017 at 16:30: That is correct.

Although it may depend on the voting tights of the Chair, who may have the casting vote?

Even numbers of directors are not always a good idea!

Comment by Vicky Flood on April 24, 2017 at 23:01: Hi Sorry if im being a bit dim, but I have a question about the new Person of significant control register.

Our CIC is limited by guarantee and therefore there are no share holders and the directors meetings are equal voting so I am unsure if all the directors (4) hold it equally and therefore wouldn't go on it because it would be 25%?

Really sorry.. cheers

Comment by Jeremy Kite on March 23, 2016 at 11:19: Hello Jackie - fire away!

Comment by Jackie Scruton on March 16, 2016 at 11:39: hello i have just become a non exec director and hope as I settle in I maybe be able to 'pick' peoples brains

thanks

Jackie