|
Hi All
Firstly, thank you for all the input on this.
Perhaps we need to put this on hold until we know what we are doing and what we want going forward and decide what we need funds for.
As with the outlined plan, lets build a website and other publicity first, we are now looking at a much simpler solution to that. If people are happy for myself, Matt L, Dom, and a few others to do this, then this should not take too long, we can just get on with it.
If anyone is on Mastodon, we are at @dcglug@techhub.social
As for meetings, nextcloud-talk doesn't cost anything,
So for now we may not need anything,
Paul
On 2025-10-13 15:39, giles@xxxxxxxxxxx wrote:
I think Helen is right, you need the simplest organisation available from what I can see your needs are. I think that since 2020, you will still need to register with HMRC. From my experience setting up a Ltd 15 years ago I found that the companies house / VAT registration was particularly easy, and I was able to complete and get all the paperwork / bank accounts to function with a week or so at minimal cost. Having said that, when I wound down operations, it took me 2 years to dissolve the Ltd, and cost considerably more to do so and I still need to wait another 2 years before I can dispose of the company's paperwork and consider that part of my life complete. So not something you will want to enter into lightly. -----Original Message----- From: Helen McCall < helen.wildnfree@xxxxxxxxx> Sent: 13 October 2025 14:30 To: list@xxxxxxxxxxxxxSubject: [LUG]Re: Lug funds Dear All, We do not need to be either a charity or a CIC. Either of those options involves a lot of work and unnecessary expense. All we need to do is to establish a Legal Entity as a simple Community Association or Club. I outlined that nice simple system in my first email. Once we have established a simple Legal Entity, we can open a bank account. The ownership of the Legal Entity should be the Membership in Perpetuity. Helen McCall On Mon, 13 Oct 2025 13:44:56 +0100 Henry Bremridge via list < list@xxxxxxxxxxxxx> wrote:
On Mon, Oct 13, 2025 at 09:55:27AM +0100, Julian Hall wrote:
Hi All,
Rather than a full charity what about a Community Interest Company?
(CIC) The bar is lower for a CIC than a charity, albeit you do need
to register the names and details of Directors with Companies House.
https://www.gov.uk/government/publications/community-interest-companie
s-how-to-form-a-cic/community-interest-companies-guidance-chapters
When deciding on the CICs activities you should consider the
following:
What activity do you want to undertake and how will it benefit the
community? Who will be the owners, managers, directors, shareholders
or guarantors? How will it be funded?
How will the surpluses or profits be used?
Will you be engaging in any campaigning or political activities?
(Companies involved in these activities are not eligible to become
CICs) Who will be nominated as the asset locked body in your Articles
of Association? Will being a company with limited liability, a
mandatory Asset Lock, extra reporting requirements and designed for
social enterprise suit your needs?
https://www.gov.uk/prepare-file-annual-accounts-for-limited-company
While it does not say an accountant has to prepare the accounts for
CIC, it does say that
Statutory accounts must include:
a ‘balance sheet’, which shows the value of everything the company
owns, owes and is owed on the last day of the financial year
a ‘profit and loss account’, which shows the company’s sales,
running costs and the profit or loss it has made over the financial
year
notes about the accounts
a director’s report (unless you’re a ‘micro-entity’)
You might have to include an auditor’s report - this depends on the
size of your company.
The balance sheet must have the name of a director printed on it and
must be signed by a director. Accounting standards
Your statutory accounts must meet either:
International Financial Reporting Standards
New UK Generally Accepted Accounting Practice
IF DCGLUG goes this route, I presume the directors will want an
accountant to sign off to ensure that these standards are met. There
goes what £500 a year? Certainly more than £200
2025-10-13 13:41:35
-- The Mailing List for the Devon & Cornwall LUG FAQ: https://www.dcglug.org.uk/faq/
|
