A Community Interest Company (CIC) is a UK legal form for businesses that operate for community benefit rather than private profit. CICs were introduced by the Companies (Audit, Investigations and Community Enterprise) Act 2004 and are regulated by the Office of the Regulator of Community Interest Companies, alongside Companies House.
Two structural features define a CIC:
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Community interest test. The company’s activities must be carried out for the benefit of the community, or a section of the community, as declared in the company’s Community Interest Statement (CIC36 at incorporation; ongoing through annual CIC34 reports).
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Asset lock. The company’s assets are legally locked to its community purpose. Profits and assets cannot be distributed to members or directors for private gain. Any surplus must be reinvested in community-benefit activities or transferred to another asset-locked body (specified at incorporation, or with Regulator consent to another asset-locked body).
CICs can be limited by guarantee (with members as guarantors) or limited by shares (with capped dividend distributions). Both forms are private companies under the Companies Act 2006.
Interwoven Arts CIC specifically:
- Private company limited by guarantee without share capital.
- Article 4 of the Articles of Association: “The Company is not established or conducted for private gain: any surplus or assets are used principally for the benefit of the community.”
- Article 3 asset lock: specified asset-locked body for wind-up is The Roger & Douglas Turner Charitable Trust (Charity Registration Number 1154467, Charitable Incorporated Organisation, Registered Office: Arley House, Lion Lane, Upper Arley, Worcestershire, DY12 1SQ).
- The Articles’ Schedule defines “asset-locked body” as: “a community interest company, a charity or a Permitted Society; or a body established outside the United Kingdom that is equivalent to any of those” — so a charity as the named beneficiary is constitutionally valid.
- CIC36 Surplus declaration: “If the company makes any surplus, it will be reinvested into further community benefit activities, including access initiatives, programme development, research and development, and infrastructure that supports future delivery. Any surplus donated externally will go to CICs and charities with similar objectives, with the consent of the CIC Regulator.”
- Annual CIC34 report required (alongside annual accounts) — first report due alongside our first accounts, made up to 30 April 2027, filing deadline 10 January 2028.