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Our partnership of companies is dedicated to illuminating a path to better mental health for our clients. At the core of our organisations is a deep-rooted commitment to understanding and addressing the unique challenges individuals face. We believe in creating a supportive and empowering environment where clients feel heard, valued, and capable of overcoming adversity.
Every interaction is guided by empathy and compassion, fostering trust and open communication. Our team is passionate about providing personalised care, tailoring our approach to meet the specific needs of each individual. We celebrate milestones, no matter how small, and offer unwavering encouragement as clients embark on their journey to wellness. Our goal is to equip individuals with the tools and resilience they need to build a fulfilling and meaningful life.
We are a Community Interest Company who works closely with other like minded companies, so what exactly does that mean for us as a company helping people and also excepting help via donations. What makes sure we use our financial resources for good and not for own own gain?
A Community Interest Company (CIC) in the UK is a type of limited company specifically designed for social enterprises that want to use their profits and assets for the public good rather than for private gain. Introduced in 2005, CICs allow businesses to operate in a way that benefits a community or social cause while still being able to earn income and trade.
Here are the key characteristics and features of a CIC:
1. Community Purpose
- CICs must have a clear community purpose, often aimed at addressing social, environmental, or cultural issues.
- The CIC Regulator ensures that the company's activities genuinely benefit the community or social cause specified in its objectives.
2. Asset Lock
- One of the defining features of a CIC is the "asset lock," a legal restriction that ensures the company's assets and profits are used solely for its stated community purpose.
- The asset lock prevents the company from selling its assets or redistributing profits for private gain, ensuring that resources stay within the community or cause.
3. Legal Structure
- CICs can be limited by shares or by guarantee, similar to other limited companies. This structure allows flexibility, especially if the CIC seeks to raise funds or attract investors.
- However, the profits and dividends a CIC can pay to shareholders are capped to ensure most of the surplus is reinvested for the benefit of the community.
4. Regulation and Reporting
- CICs are regulated by the CIC Regulator, who reviews annual reports detailing how the CIC has benefitted the community.
- These companies must also meet specific transparency requirements, ensuring they remain accountable to the public and their community stakeholders.
5. Funding Opportunities
- CICs often have more access to grants, public funding, and loans tailored for social enterprises and community projects.
- Although they are profit-making, the asset lock and community focus make them attractive to funders looking to support sustainable social causes.
6. Tax Implications
- CICs are not charitable organisations, so they do not receive the same tax benefits as registered charities, although they often work in partnership with them.
- They are subject to standard corporate taxes in the UK, although some CICs may form separate charitable arms to manage donations and qualify for tax reliefs.
Examples of CIC Activities
CICs operate in diverse sectors, including healthcare, arts, education, environmental services, and youth services. They can range from a community café providing employment for disadvantaged groups to a renewable energy project reinvesting in local sustainability initiatives.
Community Interest Companies are a popular choice in the UK for individuals or groups looking to create a lasting impact while maintaining a sustainable business model.