"Hi - Sadly we have reached the point where we need to shut down our CIC. Such a shame. We trained in Social & Therapeutic Horticulture at Coventry Uni and have been using those skills to work with Older people / end of life since 2011. However…"
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Faye Bentley replied to Pete Scott's discussion Putting a CIC 'on ice'. in the group CIC Governance"Hi John/others
In I similar vain can I ask a few questions;
1) Does a CIC need to be closed if it has no money left in the account or can it be held dormant? What happens if it is going to be in the negative does it need to close before…"
Pete Scott replied to Pete Scott's discussion Putting a CIC 'on ice'. in the group CIC Governance"Thanks John, I appreciate the help."
"Yes to both.
You need to ensure you continue filing annual accounts as per normal. You may want to write to HMRC to inform them but you dont have to, as with the CIC Regulator.
When you do file your annual accounts and CIC34 you can let the CIC…"
Pete Scott added a discussion to the group CIC GovernancePutting a CIC 'on ice'.
Hi,We have been operating as a CIC for seven years. We are now facing a number of changes including losing key staff through retirement etc.We would like to take a complete for around six months - that is, no trading activity at all - and then relaunch once we have new staff etc in place.Are we allowed to do this by Companies House & do I need to record it on our C.34?Thanks See More
Pete Scott joined Jeremy Kite's groupCIC Governance
This group is intended to help CIC's with how they are managed, led and held to account. See More
Profile Information
- What is your postcode?
- EX108BP
- Name of organisation (if any) you are associated with?
- Growing Together (Community Gardening) CIC
- Is that organisation a CIC?
- Yes
- If you have a website, what is your web address?
- http://www.growingtogetherdevon.co.uk
- Are you interested in representing a CIC at the CIC Association AGM?
- No
- Are you interested in working in partnership with the CIC Association?
- Yes
Pete Scott's Blog
CIC & Asset Lock
Hi - We have been incorporated as a CIC since 2012. Recently we were asked whether we has an asset lock in place. I had assumed this was just an integral part of our governance. However I now feel we should perhaps have a specific entry in our constitution. It is actually quite a useful question at this time as we are hoping to get a new van & upgrade our IT and so forth. How have other CICs handled this issue?
Posted on March 8, 2016 at 18:27 — 2 Comments
Comment Wall (1 comment)
- At 10:32 on December 11, 2015,
Tim Cooper said…
- Hi Pete - We are Communities Insurance Brokers CIC - we specialise in advising and assisting charity and social enterprise organisations find suitable and cost effective insurance cover. Our clients range from large social housing providers and charities to small CIC start-ups and voluntary groups. We have no minimum premiums and do not charge for our administration. Please let me know if we can can help. Kind regards Tim Cooper 07790 598080
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