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Small CIC example accounts at companies house

Would anyone care to share the name of a small CIC whose accounts I can see at companies house

Didn't find your answer?

I am trying to find examples of small CIC accounts at companies house (income less than £50k).

If anyone could share a couple of names for me to look at that would be great,

Thanks,

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By Mr_awol
20th Aug 2019 13:15

The only CICs I know the names of and would know income figures for are the ones I act for, so unfortunately there's just no way I'm putting their names up on here.

You could go to the CoHo website and typing CIC, then look through the thousands of results. You might get a response if you email [email protected] I suppose.

Personally though whilst it's helpful to see someone else's attempt, you would be better off just putting them together yourself based upon your own research as to the requirements. Any examples you use from other people could be complete nonsense anyway.

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By lionofludesch
20th Aug 2019 13:46

Mr_awol wrote:

You could go to the CoHo website and typing CIC, then look through the thousands of results.

The snag with that plan is that, as the CIC bit you're seeking is at the end of the company name, the CICs are likely to be at the end of the list and the search engine only runs to the first thousand.

The other problem is that you'll probably only get a FRS 105 balance sheet so don't expect to learn much.

What do you want to know, Tom ?

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By Mr_awol
21st Aug 2019 12:35

lionofludesch wrote:

Mr_awol wrote:

You could go to the CoHo website and typing CIC, then look through the thousands of results.

The snag with that plan is that, as the CIC bit you're seeking is at the end of the company name, the CICs are likely to be at the end of the list and the search engine only runs to the first thousand.

The other problem is that you'll probably only get a FRS 105 balance sheet so don't expect to learn much.

1) True, although I imagine he'd find a few.
2) Perhaps - although most of my CICs don't file FRS105 accounts. I give them the option and they are normally less concerned with commercial sensitivity and more concerned with transparency and how they are viewed with regards to their general openness. In particular those making grant funding applications generally opt for FRS102 and don't normally want the accounts filleted either. Some of them put the full accounts on their website so filleting would be a bit ridiculous really.

No that I have hundreds of CICs, but off the top of my head I can only think of one or two that file FRS105.

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Psycho
By Wilson Philips
20th Aug 2019 14:19

Type in "Community interest" on Companies House and there are a few on the first couple of pages alone.

But as mentioned above, I'd be wary about using any of them as templates - there is some shoddy stuff on that site.

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By Accounts12
20th Aug 2019 14:43

Also agree on this, we did a set recently and it was only after speaking with our professional body were we really able to prepare a set that complied with the CIC regulations, had I followed any CIC example off Companies House, it would have not been detailed enough.

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By lionofludesch
20th Aug 2019 17:38

Bless me ! I wouldn't be copying off other accountants !!

Who's to say they know more than I do ?

Having said that, off hand, I can't think of any additional required disclosures, compared to a runofthemill company.

There's the Annual Report, obviously, but that's for the directors to complete, not the accountants.

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By Accounts12
20th Aug 2019 19:14

Nor would I, what I was trying to say is that if I had just looked at them and thought, ok I will do the same, they would have been incorrect.

There is far more disclosure required compared to a runofthemill company for CIC's then what a small limited company has to comply with.

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By marks
20th Aug 2019 17:24

Had an enquiry from a CIC yesterday about doing their accounts. Never done one, no intention of ever doing one.

Said thanks but no thanks.

Stick to what you know rather than trying to do something you don't.

Lot easier and a lot less hassle.

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By lionofludesch
20th Aug 2019 17:38

If you can't cope with a CIC, you shouldn't be doing company accounts.

There's no difference.

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By Accounts12
20th Aug 2019 19:11

Completely disagree with you, they are not the same as limited company accounts and please don't give AccountingWeb readers that impression as then we get even more inexperienced accountants thinking they can do if it's not different as a result and the client becomes the ultimate loser there

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By lionofludesch
20th Aug 2019 19:29

In what way are the accounts different ?

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By Matrix
21st Aug 2019 14:41

I am not aware of any differences in preparing CIC accounts. I have just prepared limited company accounts.

Apart from the accounts have to be filed on paper and the CICs are tight on fees and don’t understand they have to pay tax. For those reasons they are not my ideal client :)

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By lionofludesch
21st Aug 2019 16:38

I thought the same but Accounts12 implies they're very different animals.

In what way he has yet to enlighten us.

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By puzzel
21st Aug 2019 19:25

No doubt someone will shoot me down.
Yes a Ltd company accounts format can be used, but needs amending from share holder to guarantor , and a few other things.
A form cic 34 needs to be completed and filled with the final accounts to CH, + a £15 cheque.
Consideration has to looked at about Grant's given and the correct use, as they could be clawed back.
Although no shareholders, each trustee is in general subjected to a £1 liability on the closure of the cic with debts.

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By lionofludesch
21st Aug 2019 22:13

puzzel wrote:

No doubt someone will shoot me down.
Yes a Ltd company accounts format can be used, but needs amending from share holder to guarantor , and a few other things.
A form cic 34 needs to be completed and filled with the final accounts to CH, + a £15 cheque.
Consideration has to looked at about Grant's given and the correct use, as they could be clawed back.
Although no shareholders, each trustee is in general subjected to a £1 liability on the closure of the cic with debts.

CICs aren't necessarily guarantee companies. More often than not, they have share capital and they can pay dividends.

The form CIC34 isn't part of the accounts and, imho, the accountant shouldn't be preparing it. It's the job of the directors - though the accounting should review it.

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By puzzel
22nd Aug 2019 20:41

So we did not know the full story, yet again. But then my input was on the right way. If someone is not used to a cic, then they need guidance at the end of the day. The fact that the accountant does not fill in the cic 34 is irrelevant , it is client advice.

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By lionofludesch
22nd Aug 2019 22:48

puzzel wrote:

So we did not know the full story, yet again. But then my input was on the right way. If someone is not used to a cic, then they need guidance at the end of the day. The fact that the accountant does not fill in the cic 34 is irrelevant , it is client advice.

I wouldn't disagree that competence in dealing with CICs is required.

I am, however, still waiting for someone to explain how the accounts of a CIC are prepared differently to those of a normal private limited company.

The best we've been able to produce is your claim that all CICs are guarantee companies which, apart from being incorrect, glosses over the fact that ordinary limited companies can be guarantee companies too.

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By tom123
22nd Aug 2019 10:18

In case anyone is wondering - I have recently become a director of one (to do with disability sports) so just familiarising myself with the accounts etc.

(and it is a 'start up')

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By lionofludesch
22nd Aug 2019 10:43

Ah right.

Well there's a boat load of stuff on the CIC Regulator's website which you should probably wade through.

Start here ....

https://www.gov.uk/government/publications/community-interest-companies-...

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By Dragons Roar
22nd Aug 2019 11:49

Hey Tom123, I have no affiliation with this company whatsoever, but if you search Companies House for registration number 06800135, it is an example of a CIC with less than £50k income

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By james3
29th Aug 2019 19:14

Here's an example: https://beta.companieshouse.gov.uk/company/SC431828/filing-history

I've left this company now, but it continues to always file full accounts in the interest of transparency and doesn't claim the exemption to only file a balance sheet.

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