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NFP Ltd Company to CC or CIO

Governance

Dawn Wood Director at Not yet a charity Posted 6 days ago

Hi we've been running a NFP Ltd by guarantee company since 2010, found 2008. Our governing docs were written so that we could become a charity or CIC as we grew with a couple of tweaks. Due to various factors we are now finally ready for that next step. 

We operate by providing work and retail space to local artists and makers and rent various properties to do this. None of our directors are paid, expect for occasional pt work that fits their remit outside of the directorship and on a freelance basis. Our work is wholly charitable and all profits ploughed back in, which is what has allowed us to grow rather than being reliant on funding.

There are a couple of complications in that the org was started to provide work and retail space for myself and my late husband. we quickly grew to support others and became incorporated but I do earn money from selling in the shop, although not much these days as I do a lot of the running as my seller hours, as does another director, pay commission on products sold, teach craft classes if it's my subject etc. so I don't starve on a self employed basis. Our mem and arts does allow this but not sure how that would play out with the charity commission.

We are currently trying to decide which option to take that best fits with our continuance without renewing leases, moving VAT registration etc. Either an overarching CIO and continue with our current as a trading subsidiary, which we could also then continue to pay the directors as needed, or convert the current ltd company to a cc, which after lots of reading I've just discovered we can do rather than setting up a new company. feeding any profits into the CIO and having the charity benefits

We have policies and procedures in place and would just need to update our mem and arts for either.

We have tried to get legal advice around this from a couple of local charity law firms but have had the run around, complicated answers and been trying for over a year to sort it out, with fees of 10-20k quoted for helping us, feasibility studies etc thrown at us as being needed first. I'm at the banging my head against the wall stage and we just need to get it sorted now as it's holding us back.

Any advice gratefully received or suggestions for lawyers who won't blind us with big words and huge bills

Thanks in advance
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