The members give a guarantee to cover the company’s liability, which is normally nominal and limited to, for example, £1. CICs first appeared in 2005 and were designed to address the lack of non-charitable businesses or community-based companies. Community Interest Companies are a form of social enterprise which utilise the power of business to benefit their chosen community through the provision of services or the improvement of the local environment. CICs are easy to set up, with all the flexibility and certainty of the company form, but with special features to ensure they are working for the benefit of the community. In our view, the CIC form is capable of offering companies significant opportunities for their community programmes as an alternative to running these in … Guidance is published here at the Companies House web site (or click the Companies House logo … Type in "Community interest" on Companies House and there are a few on the first couple of pages alone. CLGs usually raise funds through grants or donations, rather than from shareholders. It aims to be the representative body for all CICs in the UK. Since then more than 1,600 companies have been registered as CICs. The CIC Regulator's Office was opened in July 2005 to regulate, provide advice to, and raise awareness of Community Interest Companies. 7.1.1. Office of the Regulator of Community Interest Companies Community Interest Companies (CIC) Association The CIC Association provides regional and topic based discussion groups (including Accounts and Setting up a CIC groups) and video resources. The form CIC36 contains explanatory notes, which you should read carefully before completing the form. A community interest company (CIC) is a type of company, designed for social enterprises that want to use their profits and assets for the public good. The Community Interest Companies Regulations 2005 set the first caps for dividends to private investors as follows: The maximum dividend per share limits the amount of dividend that can be paid on any given share. But as mentioned above, I'd be wary about using any of them as templates - … A Community Interest Company (CIC) is an enterprise set up to make a profit for the benefit of the community. The Community Interest Company (CIC) was launched in July 2005, aimed at creating a recognisable legal entity for social enterprises. Companies limited by shares A Community Interest Company (CIC) limited by guarantee with no share capital (CLG) has no shareholders. changed unless the company changes its objects, in which case it would need to deliver to the Registrar of Companies a new community interest statement on a form CIC14, together with other documents (see Chapter 5). CONTENTS: MISSION WHO WE ARE VISION VALUES OUR AIMS WHAT WE DO BENEFITS LONG-TERM OBJECTIVES MISSION ‘Towns and villages with something special to offer walkers’ To enable and assist the development and maintenance of a network of communities Like all other limited companies, CICs must comply with company law as well as other specific legal requirements. If you have not yet filed Annual Accounts for a CIC (Community Interest Company), then please be aware that the process and procedures for filing the Annual Accounts at Companies House is different from normal electronic filings.. Firstly you cannot file electronic Annual Accounts.. Social enterprises operate with the interest of the disadvantaged at heart, and use private enterprise to generate funds for their cause. Community Interest Company Business Plan 2015-2018 . Legal entity for social enterprises '' on companies House and there are a on! 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