Defining a CIC

Not so long ago we had a meeting with club chairman Michael Johnston and the term CIC was mentioned, subsequently you may have wondered what that is. So here we have some information for you to hopefully shed some light on the subject should you need it.

What Is It?

CICs (Community Interest Company) 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.

A CIC can be a public company limited by shares, a private company limited by shares, or a company limited by guarantee, and will have the same benefits and obligations as other companies of this type. CICs are registered with Companies House but regulated by the CIC Regulator.

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.

The “Community Interest Test” means that the Regulator must be satisfied that activities carried out by the organisation are carried out to the benefit of the community it serves. The club would need to convince the Regulator that its activities would benefit the whole community so could not concentrate on solely “elite” sport.

The “Asset Lock” means that the assets of the company, eg the stadium, must be used for the benefits of the community. If the asset is sold then it must be sold at the market value, and not for £1 for example, any profits from the sale must benefit the community and not individuals.

Once a company chooses to become a CIC it cannot be converted back to a limited company, although members can choose to become a charity. The SFA will accept a club which is set up as a CIC or a Community Benefit Society (the trust model).

The CIC provides limited liability for its members.

Benefits:

reassurance for stakeholders as the asset lock and community interests are regulated;

CICs must produce annual reports which includes:

  • What has been done and how it has benefited the community.
  • How much directors have been paid.
  • Steps taken to consult with stakeholders and the outcomes.
  • Any profits are used for the benefit of the community and not distributed to owners.
  • Dividends and directors’ salaries are restricted.

Disadvantages:

An organisation cannot be both a CIC and a charity. Some grant funders recognise and fund CICs but not all.

CICs do not enjoy any tax concessions.

Examples of CICs:

The way a CIC is operated can vary, here are some examples from Scottish Football.

Clyde FC:

Clyde is owned by fans on a one-member one-vote basis.

Stenhousemuir FC:

Stenhousemuir FC’s shares in the previous company were converted into shares in the CIC. One share in the old company = ten shares in the CIC, meaning that shares were more affordable to more fans. There is a rule stating that no-one can own more than 10% of the shares in the CIC apart from the Supporters Trust who can’t own more than 20%.

Killie Trust Masterchef

On Monday 17th September, the first Killie Trust Masterchef took place. The fiercely contended cook off took place at the wonderful Cook School Scotland in Kilmarnock and contestants had travelled from as far as Glasgow to take part in this prestigious culinary competition. One contestant, Andy Millar, talks us through it.

“Under the guidance of Joe Queen the executive chef and Michael George our tutor and mentor for the evening, our challenge was to prepare breast of chicken stuffed with haggis with fondant potato and creamed cabbage.

Firstly, Michael took us through how to prepare and cook the potato fondant which included an explanation of the importance of your choice of potato variety. Much to the shock of our wannabe chefs all tatties are not created equally.

Next it was back to our beautifully appointed kitchen stations to try and emulate what Michael had just made look so easy. After much huffing and puffing and some assistance from the ever helpful Joe and Michael we all managed to get our potatoes into the oven.

Now we moved on to the main event; the preparation, stuffing and wrapping of our chicken. Once again Michael patiently showed us all how to cut the chicken breast without damaging ourselves or ruining the meat. He explained to us the importance of starting with good quality ingredients and how to cook chicken properly without over-cooking.

Back to the kitchens to get our chicken stuffed, rolled and wrapped and in the oven and our potatoes out. We were now on the home straight but possibly the greatest challenge of all, making cabbage tasty. We were given a few more tricks of the trade and off we went.

With our cabbage well on the way to being ready to eat we had one last trip to the front of the class so that Michael could show us how to present our dishes in the most appetising way ready for the judges to adjudicate our work. We were judged not only on the presentation of the dish but how we had worked during the course of the evening.

Joe and Rory McKeown (Kilmarnock FC’s left back, who had given up his free time to help judge the event) toured the kitchens to inspect our efforts and then at long last we were able to enjoy the fruits of our labour. Rory joined us, having had his meal cooked by Michael not one of us you’ll be glad to know.

Clearly we must have all been well trained as silence fell upon the dining room as we all tucked into the meals we had prepared. Joe did point out that we may have been the slowest cooks he had ever seen. He also regaled us with behind-the-scenes stories of the real MasterChef.

Joe and Rory added up the scores until finally after much deliberation they were ready to announce that Lesley Thomson was the Killie Trust Masterchef . Well done Lesley and thanks to everyone who took part and to everyone at Cook School Scotland for making us feel so welcome and a wonderful evening. A special thanks must also go to our very dedicated dishwasher.”

We will see you all again on the 13th of November when we go back for a second helping. This time there is no need for an apron as our Italian night is strictly Demo and Dine…and a wine or two to keep you going while the award winning chefs prepare an Italian feast for your delight and delectation. Rory McEwan was our surprise judge at the MasterChef competition…and we hope that he’s bringing along one of his team mates, who is an expert on Italian cuisine.

For details on how to book you can go to our event post on our facebook page or simply have a look at the promo poster for it below!

For more information on The Cook School Scotland please visit their website here or follow them on twitter here.

See you all in November.

Stand Up (If You Love Killie) 5! A Review

Two weeks past on Friday night (24th August) saw The Killie Trust get the COG Fund rolling with the very successful Stand Up (If you love Killie) 5! comedy night at The Player Sports Bar at Rugby Park. Ayrshire comedian/tv star/radio personality/wrestling commentator Billy Kirkwood compered a great night and he and comedians Tommy Reid, Neil “The Wee Man” Bratchpiece, John McGoldrick and Jim Smallman had those in attendance rolling in laughter.

Englishman Jim Smallman, who headlined the event, in particular regaled the time when he actually last visited Rugby Park as a fan of his hometown team Leicester City for a recent friendly and noted that he heard the best ever put down of a player ever from the home fans about Leicester player Chris O’Grady who played with a shirt with no number, though the put down may be best left off this post.

The Wee Man had a audience member and Killie fan up beat boxing (very well we should add) as he rapped and then downed his percussion mans pint in a one-ah while at the opposite end of the spectrum Billy Kirkwood had three guys up to form a boyband which he named the “Fanny Pads”. All was taken in good fun though.

In amongst it all, the fire alarm went off in the Sports Bar and everyone was ushered out before being ushered back in to get on with the show.

In all the fantastic funny men performed in front of an audience of 130 and the night raised a whopping £1750 for the COG Fund so thanks to all of you for coming. The night was supported by Klin Group, Fogs Snack Bar, Browning the Bakers (Half Time Pies), Kilmarnock Taxis, Drew Kirkland (PA System) and big thanks goes to Billy Kirkwood, all the comedians on the bill and Peter Telfer for pulling it all together.

Hopefully the next comedy night wont be too far around the corner, is there anyone people would like to see?

Killie Trust MasterChef

Are you a MasterChef or a Muppet?

There is only a few places remaining for this event which is only just over a week away.

Test your culinary skills against the rest in the Killie Trust’s MasterChef competition which is being run in association with the Cook School (Scotland). For only £35 a head you get to watch the experts at work and then try your own hand at the dish, with a special Killie guest judging who gets the title on the night.

Anyone interested can call 07525 152035 or email gerry.stanley@hotmail.co.uk for further details or to book your place…and watch out for details of our upcoming Italian night in the Cook School as well.

Win Scotland Tickets & Help The Trust

A Killiefc.com forum member who goes by the username Jimmy Superscot has kindly donated two tickets to each of the upcoming Scotland international qualifiers at Hampden this coming week for the Trust to auction. All proceeds of the auctions will go directly to The Killie Trust COG Fund and we are extremely grateful of his generosity.

Heres the info for you if you are wishing to make a bid.

  • Both auctions are on the killiefc.com forum and you can get to the bidding by clicking either of these two links. Serbia and Macedonia.
  • Auctions end for Serbia match Wednesday 5th September at midnight and Macedonia at midnight on Friday 7th September.
  • Tickets will be sent special delivery in order for them to arrive on time for each match.
  • Tickets are both matches are for section B1 row UU.

Best of luck when bidding and thank you for your support.