[cma-l] Charity limited company

[Phil Edmonds]

On 11/09/2011 13:41, Phil Shep wrote:
> 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 'wrapped itself round' 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. 

This is what I was suggesting in my e-mail.

>  I can understand  that there may be implications for the wording of 
> the licence agreement 

As the licence would still he held by the same body I can't see this 
being needed.

Also:
On 11/09/2011 09:28, Tony Bailey wrote:
> I think the regulations require independent trustees, which might not 
> fit a limited company profile. 

The trustees of a charity that is a Company Limited by Guarantee are the 
Directors of the company. As a charity trustee you can not receive any 
payment from the charity (other than out of pocket expenses and a few 
extremely specific exceptions of being paid for 'professional 
services'.) This means that a director of the company can not be an 
employee. If any of the current directors of Stroud Community Radio 
Limited are employees they would have to stand down as directors or 
cease being an employee once you became a Registered Charity.

Phil.


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