All Blog Posts (232)

Does anyone have any knowledge regarding a reserves policy?

I appreciate 'reserves' is a charitable term and CIC's would use the term 'surplus' but we are a CIC Limited by Guarantee (not shares).  We classify ourselves as 'not for profit', any 'surplus' being used to deliver more activity for our disabled participants.  No Director takes payment.

We are wondering what would be considered appropriate reserves (surplus) bearing in mind charities might expect 3 - 6…

Does anyone have any knowledge regarding a reserves policy?

I appreciate 'reserves' is a charitable term and CIC's would use the term 'surplus' but we are a CIC Limited by Guarantee (not shares).  We classify ourselves as 'not for profit', any 'surplus' being used to deliver more activity for our disabled participants.  No Director takes payment.

We are wondering what would be considered appropriate reserves (surplus) bearing in mind charities might expect 3 - 6…

Hi, 

Has any member applied for a CBIL? What was their experience? Were they successful? Is there any bank or finance company that is more favourable towards CICs? As most of our business, which is wholly retail, takes place over the summer, it has become apparent that we might have "write off" this summer trade and will be struggling to survive until the summer of 2021, Any advice would be appreciated. Thank you.

Hi All

I am currently working with a CLG who want top convert to a CIC

I understand the need for special resolutions to; Become a CIC, Change the name  and amend the Articles top reflect that fact that they have become a CIC.

However the checklist at the end of the CIC37 form states they also need: "Special resolution make such alterations of the company’s articles as the company considers necessary to comply with requirements imposed by section 32 of the…

https://www.bbc.co.uk/news/av/uk-england-london-48456765/bullied-for-being-deaf-now-i-do-mma?fbclid=IwAR1Zdb9CAGko026RBy2m71wuPVdFrZz9wJVmrAtRLQSldMCCtoq-5eMNLAw

https://www.bbc.co.uk/news/av/uk-england-london-48456765/bullied-for-being-deaf-now-i-do-mma?fbclid=IwAR1Zdb9CAGko026RBy2m71wuPVdFrZz9wJVmrAtRLQSldMCCtoq-5eMNLAw

The Drop The Knife Community Interest Company and Charity has been set up to deliver an end to end educational package to Primary, Secondary Schools, Youth, Sports, and Community based Organisations across England & Wales. 

We are looking for volunteers to help us raise the £1.5m required to make certain all objectives are delivered over the next three years. We are also looking for volunteers to help rub fundraising and Sponsored events. If interested please contact us at…

Hello to everyone on here helping each other...i am in the process of setting up a C.I.C that will act as a community space and cafe, to support the community by hosting a youth club with directed activities such as art, music and sport as well as other training and education programs. The main aim is to create a hub of well-being and positive social action. My own venture TEAMS (see Facebook page) is a training program for health and well-being in young people using art and sport to promote…

Hi everyone,

I've just setup a CIC, and am looking to go into partnership with someone who has previous CIC experience. Does anyone know of any recruitment forums/agencies that specialise in CIC's, or have any suggestions as to how to search for candidates? Thanks

I set up Swarm Apprenticeships five years ago because I recognised that too many bright youngsters fall through the education system. Now five years later we've just converted to CIC to reinforce our commitment to supporting youngsters who 'don't fit' into employment and training.

We now deliver apprenticeship training to commercial businesses across the UK, with every learner helped to see the difference they make to their employer's bottom line. Apprenticeship training is…

I am the NED for a small CIC which is Limited by Shares, when it was created a few years ago, but we are finding that this excludes us from a number of Grant Awarding Opportunities which is very frustrating.

I know that we can't switch the CIC from one limited to one limited by guarantee, without actually winding up the existing structure and restarting, with all the costs, legal and logistical hassles that this would involve.

However, I would like to know if anyone has…

I am the NED for a small CIC which is Limited by Shares, when it was created a few years ago, but we are finding that this excludes us from a number of Grant Awarding Opportunities which is very frustrating.

I know that we can't switch the CIC from one limited to one limited by guarantee, without actually winding up the existing structure and restarting, with all the costs, legal and logistical hassles that this would involve.

However, I would like to know if anyone has…

We have been allocated a shopping centre in Burgess Hill, shopping centre due to redeveloped. Any purpose considered office and shops and available.

I applied for an overdraft. Bank asked me for 'memorandum confirming ability to borrow'. Where I can find some information about what this memorandum should include?

Hi,

At Community Spaces we work with the Owners of Commercial Property and try to convince them that rather than them keeping their un-used property empty they should un-lock the potential and allow us to find occupiers that can benefit the communities in which it is situated.

We have now got to the point where we have a portfolio of in excess of 2000 properties, predominantly shops where the landlords are prepared to accept occupation proposals from Charities, CICs and…

We're currently moving from a CIC Ltd by shares to a CIC Ltd by gaurantee.  We've opened up the new CIC and now I'm trying to work out how we transfer the assets.

I've found the correct form but need to know how much detail I should include. We're a second hand shop with two full large shops and two warehouses.

The stock turns over so quickly that we'd never have an exact list of everything we owned.

Has anyone ever done it? Any advise would be…

Women’s Radio Station is all about diversity - from opinions, career, ethnicity, education but more importantly entertainment we aim to show the individuality of every woman, everywhere. Providing opportunities and a platform for your voice,  irrespective of creed, colour, race, religion or disability.

Women’s Radio Station is a fresh new broadcasting platform driven by love and passion, connecting women…

hi - I have a question regarding raising private investment on a show by show basis.

We are now at a critical point of fundraising for our upcoming show in 2018. The idea being as we are now newly formed as a CIC we can mix NPO funding with private investment.  We are hoping to raise circa £10,000 in donations. £15,000 in Arts Council money and £30,000 private investment. We want to use the 35% profit split to pay returns to investors and bonuses to…

I recently asked the CIC regulator a few questions about their powers and enforcement of those powers under a FOI request. I'm not sure how to upload their response (can I post it anywhere?). Most notably, over past 5 years, 310 CICs investigated. 0 CIC's had enforcement action against them.