Mutual Arising is a registered Community Interest Company (CIC) Limited by Guarantee, No: 5755632
'Community Interest Companies (CICS) are limited companies with special additional features created for the use of people who want to conduct a business or other activity for community benefit, and not purely for private advantage. This is achieved by a "community interest test" and "asset lock", which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes.Registration of a company as a CIC has to be approved by the Regulator who also has a continuing monitoring and enforcement role'
source: http://www.cicreg.gov.uk/
"CICs give an opportunity to people in the community to trade for the community's benefit. The asset lock gives public reassurance that all money generated, or donated will be used for community benefit, and the reporting requirements will show the public at large just what has been achieved by the money generated during the year."
Source: HM Government CIC regulator, John Hanlon - MORE: http://www.cicreg.gov.uk/news/news2.shtml
The creation of initial community creative commercial products requires funding to establish workshops in places like schools and community centres and to support other partner social enterprises and independent workshop providers. Once established each community group will become self suffient through the commercial exploitation of works created by us. All of Mutual Arising's assets, profits, products and copyrights reside with the community. Please help support the future of Community Enterprise by making a donation... |