Charitable company

Charitable company

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A company limited by guarantee 'CLBG' intends to apply for charitable status. I assume that company accounts will need to be prepared and also accounts for the charity commssion. If the organisation makes a profit does the profit belong to CLBG or the charity.

Graham Bell

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By Dave Collier
12th Jul 2006 12:39

One and the same
They are one and the same! The CLBG IS the Charity. Charities may come in many forms such as unincorporated association, housing association, CLBG, etc. and need to prepare accounts accordingly. I believe a charitable CLBG needs to ensure its accounts comply with the Charities Acts (SOFA etc) and Companies Acts.

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