[cma-l] Charity limited company

[Phil Shep]

Hi Claire

Somerset Film has been a company limited by guarantee since 1998 ­ and has
had charity status since 2002.  In lay terms the charity status simply
Œwrapped itself round¹ the company structure and is not a separate body.  We
continue to trade the company as before but with the advantages of the
charitable status.  If you were to do the same your company number would
remain the same as ours has done.  I can understand  that there may be
implications for the wording of the licence agreement but I¹d say it was
worth further investigation before setting up a separate parallel body - a
simple amendment to the descriptor of your company in the licence should
surely suffice?   If you do have to go that route then I guess you would set
up a charitable trust linked to the activities of the trading arm?

Your hopefully

Phil



On 10/9/11 09:33, "claire penketh" <clairepenketh at yahoo.co.uk> 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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