All the directors of a CIC have an important additional obligation to prepare an annual community interest company report to be filed with their accounts. The purpose of the report is to show that the CIC is still satisfying the Community Interest Test, and that it is engaging appropriately with its stakeholders in carrying out activities.
THE COMMUNITY INTEREST COMPANY REPORT and ANNUAL ACCOUNTS must be delivered together to the Registrar of Companies, with a fee.
- The fee - a cheque for £15 made payable to Companies House
- Accounts made up to your accounting reference date
- A community interest company report
Minimum Requirements for the community interest company report
The Regulations prescribe minimum requirements. These include:
- Information on the remuneration of the directors such as the total aggregate pay of directors, details of the highest paid director (if the aggregate pay of directors exceeds £200,000) and the number of directors who have received share benefits. (This information does not have to be duplicated in the report if it is included in the accounts and the report states that the information may be found in the accounts)
- Details of what the CIC has done to benefit the community.
- Details of how it has involved its stakeholders in its activities.
- Details of dividends declared (or proposed) on shares and performance related interest paid and their compliance with the capping rules. (If such dividends or interest have been paid you should refer to the precise requirements in Regulations 27 and 28.) [See Chapter 6]
- Information on the transfer of assets to another asset locked body or otherwise at less than market value for the benefit of the community.
Template Community Interest Reports
We recommend that one of the following templates are used:
CIC34 – Simplified Community Interest Company Report
CIC34 – More detailed Community Interest Company Report
CIC34 – Community Interest Company Report Continuation Sheet
About the Templates
Please note that no liability for any loss or damage arising from the use of any of the model reports will be accepted by the Regulator, her staff or her legal advisors.
The accounts and the community interest company report are separate documents. Templates for the CIC report can be found above. The detailed report covers everything that a CIC may be required to include in its report. However, not all CICs will be required to complete all sections of the template. The level of reporting depends on the complexity of your organisation's financial arrangements. It is for this reason that we have also provided a simplified report. It is intended that it should be possible to complete a CIC report without recourse to professional advice (except to the extent that accountancy advice may be required in relation to the financial information sections). To assist you when completing your report please see below for model CIC reports, which provide visual examples of completed reports.
Model Community Interest Company reports
CIC34 – Example of a simplified report for a CIC
CIC34 – Example of a more detailed report for a CIC
CIC34 – Example of a CIC continuation sheet
Registrar's Address
Registrar of Companies (England & Wales)
Companies House
Crown Way
Maindy
Cardiff
CF14 3UZ
Registrar of Companies (Scotland)
Companies House
37 Castle Terrace
Edinburgh
EH1 2EB