Annual Community Interest Report
Performance Measuring Tools
Social Audits
A community interest company (CIC) is not required to conduct a social audit. It is required to prepare and deliver to the Registrar of Companies accounts and a community interest company (CIC) report annually.
A pro forma of the CIC report can be found using the “Forms” tab. 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). We recommend that this pro forma is used. We have also had model CIC reports prepared by lawyers to assist you when completing your report. The level of reporting depends on the complexity of your organisation’s financial arrangements.
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.
- 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).
- Information on the transfer of assets to another asset locked body or otherwise at less than market value for the benefit of the community.
Information does not have to be duplicated in the CIC report if it is already included in the accounts, or a social audit. Simply, cross-reference the CIC report and attach the accounts, or social audit.
We have added a new section to our “links” to other sites “Performance measuring tools”, which may be of interest. If you are aware of other sites, which may help other social enterprises please let us know by e-mailing cicregulator@companieshouse.gov.uk.
It is our policy to obtain permission to link to other web sites. We are not responsible for the content, or reliability of the linked web sites. Listing should not be taken as endorsement of any kind. We cannot guarantee that these links will work all of the time and we have no control over the availability of linked pages.