[cma-l] Charity limited company

[LOL GELLOR]

Just to add to the possible choices if you haven't already considered perhaps a CIC (Community Interest Company) might be worth exploring, Like Tony without knowing the rationale for becoming a charity - it's a little hard to know what is your best strategy. I've set up but not actually operated a CIC, but theoretically it gives you a bit more flexibility than a company limited by guarantee (and can have an asset locked arrangement with a charity), and I think you can migrate from a company ltd by guarantee to a CIC and keep Ofcom happy in terms of maintaining the same responsible license holders.It might be worth giving the CIC people a ring (www.cicregulator.gov.uk).

I hope that helps rather than further confuses!

all the best
Lol






________________________________
From: Tony Bailey <studio at ravensoundradio.co.uk>
To: claire penketh <clairepenketh at yahoo.co.uk>
Cc: 'cma-l' <cma-l at commedia.org.uk>
Sent: Sunday, 11 September 2011, 9:28
Subject: Re: [cma-l] Charity limited company

You don't say why you want to become a charity.  I assume you have 
looked at the Charity (England/Wales) Commission website. 
http://www.charity-commission.gov.uk/
I think the regulations require independent trustees, which might not 
fit a limited company profile.  I also believe that while it's probably 
not possible to merge the two entities as you suggest, they can 
sometimes share Trustees/Directors.  If you don't want to trade but you 
need a corporate body you can be a non-trading company, which requires 
only a single page annual account return.  Most charities run separate 
trading companies because charity commercial trading isn't permitted.

Regards,  Tony Bailey



claire penketh wrote:
>  Stroud FM, currently a company limited by guarantee, is thinking about 
> becoming a charity limited company. Had a quick chat with OFCOM re 
> implications for our licence, which is held in the name of Stroud 
> Community Radio Limited and they said that we will have to keep the 
> current ltd company and set up the charity alongside, because the 
> charity isn't a body coperate. Then they suggesed I ask the CMA what 
> other members do, so here I am. However, I think a charity limited 
> company is a body corporate? But, if the licence is held by Stroud 
> community Radio limited, does that mean we still have to keep the 
> company, or could the licence be transferred to the charity limited company?
>  
> Yours, confused.
>  
>  Claire Penketh, Stroud FM
>  
>  


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