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What should be included in a Community Interest Company (CIC) Report?

The CIC Regulations prescribe minimum requirements for each report. These include:

  • General description of the company’s activities and what the CIC has done to benefit the community.
  • Details of its consultations with stakeholders.
  • Details of directors' remuneration.
  • Information on the transfer of assets other than for full consideration (to another asset-locked body or otherwise at less than market value for the benefit of the community).

If the CIC is a limited by shares company, the CIC Report must include:

  • either details of dividends declared (or proposed) on shares or a statement that there were no dividends declared in the reporting year and the four financial years immediately preceding the reporting year, and
  • information about debts or debentures on which interest at a performance-related rate is payable.  The compliance with the capping rules must be shown.

If the CIC is a limited by guarantee company, the CIC Report must include the interest paid at a performance-related rate section only if the company paid any such interest.
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