Questions we've been asked...
What is autism?
Autism is a lifelong developmental disability that affects the way a person communicates and relates to people around them.
It is estimated that autism affects 1 in 100 people in the UK. Currently there are over 300 families affected by autism in our borough. The autistic spectrum is wide and varied. Each individual on the spectrum is unique, with their own particular strengths and challenges.
For more information on autism please see www.autism.org.uk
What is a CIC?
A CIC (Community Interest Company) is a limited company 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.
express' registration number is 8202424.
What does 'asset lock' mean?
The 'asset lock' provision gives confidence to those wishing to fund CICs and those dealing with CICs that the assets and profits will primarily be devoted to the benefit of the community rather than rewarding the owners or investors. The annual CIC Report ensures transparency and that those affected by and benefiting from the CICs activities are being properly recognised as stakeholders. On dissolution of a CIC any surplus assets must be transferred to another 'asset locked' body. In express' case we have specified the National Autistic Society.
Autism is a lifelong developmental disability that affects the way a person communicates and relates to people around them.
It is estimated that autism affects 1 in 100 people in the UK. Currently there are over 300 families affected by autism in our borough. The autistic spectrum is wide and varied. Each individual on the spectrum is unique, with their own particular strengths and challenges.
For more information on autism please see www.autism.org.uk
What is a CIC?
A CIC (Community Interest Company) is a limited company 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.
express' registration number is 8202424.
What does 'asset lock' mean?
The 'asset lock' provision gives confidence to those wishing to fund CICs and those dealing with CICs that the assets and profits will primarily be devoted to the benefit of the community rather than rewarding the owners or investors. The annual CIC Report ensures transparency and that those affected by and benefiting from the CICs activities are being properly recognised as stakeholders. On dissolution of a CIC any surplus assets must be transferred to another 'asset locked' body. In express' case we have specified the National Autistic Society.
