CIC Association

Serving Community Enterprise

All Blog Posts (232)

Reserves Policy

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…

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Added by Geoff Holt on July 29, 2020 at 18:34 — No Comments

Reserves Policy

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…

Continue

Added by Geoff Holt on July 29, 2020 at 18:34 — No Comments

Funding help for recently established CIC

Hi all! I hope everyone is well.
Set up my CIC back in April and we're doing some excellent work.
Everything is currently funded from my very own pocket as a work as part time at a shop. Any guidance on how to get some simple funding for uniforms, equipment or even office renting as I will be renting office space with my own cash from this Friday (I'm financially stable to just about do all this and invest but would rather not do it any longer than necessary.

Added by Ash Williams on June 11, 2020 at 14:41 — No Comments

Coronavirus Business Interuption Loan

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.

Added by Derek Hammond on April 16, 2020 at 19:34 — No Comments

Section 32 Companies Act

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…

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Added by Mike Dodd on July 10, 2019 at 15:01 — No Comments

The Drop The Knife Community Interest Company and Charity

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…

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Added by Brian Reeves on March 11, 2019 at 15:25 — No Comments

Help with CIC forms

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…

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Added by leon holland on January 7, 2019 at 15:32 — No Comments

CIC recruitment

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

Added by Alex Thomson on December 19, 2018 at 20:29 — 1 Comment

Would you buy steak from a vegetarian butcher?

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…

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Added by Robert Ashton on December 13, 2018 at 13:39 — 1 Comment

Problems with being a CIC limited by shares,compared to being limited by guarantee - Help!

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…

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Added by Mark Hadley on October 29, 2018 at 13:03 — No Comments

Problems with being a CIC limited by shares,compared to being limited by guarantee - Help!

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…

Continue

Added by Mark Hadley on October 29, 2018 at 13:03 — 2 Comments

Space Available

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

Added by James Hilton Hughes on August 29, 2018 at 14:05 — No Comments

overdraft

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?

Added by Marek Janiel on August 22, 2018 at 13:43 — 1 Comment

Rent Free Space for CICs

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…

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Added by James Hilton Hughes on July 17, 2018 at 12:38 — 20 Comments

Asset Transfer

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…

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Added by Gemma Cassin on April 30, 2018 at 16:48 — No Comments

Women's Radio Station Website and Teaser Launch

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…

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Added by Women's radio station cic ltd. on January 31, 2018 at 12:11 — No Comments

Show by show investment strategy

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…

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Added by Alexander Neal on January 23, 2018 at 6:43 — 7 Comments

CIC Regulator: freedom of Information request

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.

Added by Geoff Holt on January 18, 2018 at 9:12 — No Comments

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