CIC Association

Serving Community Enterprise

Hi all,

I am in the process of completing my CIC application, and the necessary paperwork. I have a question concerning part 3 of the 'IN01' form regarding 'Statement of Capital'.

What is the best combination of quantity of shares, value of each share, class of shares, and does all of the share capital need to be paid?

Does the amount of share capital have any influence on future funding?

e.g.

1000 £1 shares, with 50% paid up giving a value of £500,or

1 £500 share, fully paid up, still giving a value of £500.

Thanks for any help that you can give me in this matter.

TIA,

Graham.

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Comment by Graham Willsher on July 25, 2012 at 12:04

Thank you both Robin and John for your comment.

This was exactly the sort of help I was looking for.

I am now off to finish my application with just minimal share capital.

Once again thanks for your help.

Graham.

Comment by Robin Phillips on July 24, 2012 at 16:54

Hi,

Do you really want to have a £1000 or £500 shareholding of the new CIC? There is not normally a reason to have that large a shareholding. We would generally register limited by shares companies with 10 x £1 shares.

Comment by John Mulkerrin on July 20, 2012 at 12:30

Hi Graham

happy to have a conversation on the phone if there is detail that you havent put on this question, but basically the amount of share capital shouldn't make a difference to future funding.

Just to confirm you are aware, as a CIC Share company some of the grant providers wont fund you as you might reasonably regarded as 'for-profit', although you could also have shares that are non-dividend distributing.

Thats just a general rule of thumb, not a firm statement as the funding landscape is so diverse.

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