RCCE Trading CIC
What are Community Interest Companies?
A Community Interest Company (or “CIC”) is a relatively new type of UK company format, designed for social enterprises that want to use their profits and assets for the public good. Community interest companies have all the flexibility and certainty of the usual company format, but with a special “asset lock” to ensure that any surpluses are used for the benefit of the community. A Government appointed CIC Regulator ensures that CICs comply with their legal obligations, and all CICs are required to submit an annual statement of their activities and finances to the CIC Regulator.
RCCE Trading Community Interest Company
RCCE Trading Community Interest Company (“RCCE Trading CIC”) has been set up – and approved by the CIC Regulator – to be a social enterprise using business solutions to achieve public good. It is a company limited by guarantee and so has no shareholders. Constitutionally, any surpluses from RCCE Trading CIC are required to be applied directly to supporting the Rural Community Council of Essex, a charity that works to enable rural communities in the County to be more socially, economically and environmentally sustainable.