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Wendy123

How to turn from a committee run provision to a CIC

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We are a committee run provision struggling along and now need to look at an alternative....Cic looks like an option does anyone know anything about it......

 

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Thanks..getting harder to keep to keep members an need to look at others

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Have looked at the above as we are sort of in the same position, a parent committee pre-school which no parents seem to have the time or inclination really to join the committee, but is not the CIO sort of the same thing though as it seems to say you need trustees to run? is that not just the same as parent committee members but under a different name? Or am I just reading it wrong? lol

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I created a CIC - Community Interest Company - no need for a committee/trustees - just me - I was originally the manager of a committee run - bought it and created a Ltd Co but the Parish Council I rent land from didn't like the fact I was Ltd so it was very easy to change to CIC - the only difference being the business is 'not for profit' - as if we are ever going to make a profit!!

I held a EGM and the parents agreed to 'sell' the business - it was then independently valued and with the cost of staff redundancies taken into account I paid the valuation to take over the business.

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I created a CIC - Community Interest Company - no need for a committee/trustees - just me - I was originally the manager of a committee run - bought it and created a Ltd Co but the Parish Council I rent land from didn't like the fact I was Ltd so it was very easy to change to CIC - the only difference being the business is 'not for profit' - as if we are ever going to make a profit!!

I held a EGM and the parents agreed to 'sell' the business - it was then independently valued and with the cost of staff redundancies taken into account I paid the valuation to take over the business.

 

@Hopeytg - I'm actually in a similar position and wondering if you could share a bit more about your experience? Everything I've read suggests that as our pre-school is a registered charity following the PLA 2011 constitution, that we would have to return all assets to the Pre-school Learning Alliance, and that the new CIC would not be able to benefit from any funds in the bank. What happened to any cash reserves that you had? Who independently valued the business? Any insight would be lovely, thank you.

Edited by Mother_Goose

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Hi finleysmaid - can I ask which bit you feel is relevent to moving to a CIC? It seems to be addressing myths around the roll out of the 30 hour scheme, but I may be missing something.??

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Hi finleysmaid - can I ask which bit you feel is relevent to moving to a CIC? It seems to be addressing myths around the roll out of the 30 hour scheme, but I may be missing something.??

my sincere apologies I have posted the wrong link!!! (been a LONG day)

give me a minute and i'll try and find the RIGHT one! :blink:

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Mother Goose - we didn't have much in the bank and what was there paid for the valuation,solicitors etc on behalf of the committee. We came out of the PLA a while before we transferred partly because of the 'returning assets' but mainly because they had done nothing for us for years. The valuation was done by someone recommended by the solicitor. It took about 2 years to complete the whole process but worth it. Happy to help where I can

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it does make it clear in the mythbuster that you don't have to return monies to the PSLA

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That does make sense to me as I keep wondering with a CIO if I can't get parents to be a secretary or a treasurer, how am I going to get them to be a director.

 

Would you be able to transfer the money / assets into the new CIC? We are PLA constitution at the moment.

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