Support for a school to enable their full day care setting to become a Community Interest Company
The Early Years Wales governance officer met with the head, deputy head and governors to discuss their day care setting model. Following this discussion, the governors opted for registering as a CIO and the process of registration started. Early Years Wales has a fast-track system with the Charity Commission and our governance officer did the main bulk of the work using this. All the relevant paperwork was submitted registering their CIO within 48 hours
The CIO registration went through however, before the Responsible Individual (deputy head teacher) had uploaded the CIW registration paperwork for the CIO he was told by the school governors to close the CIO and set up a new Community Interest Company (CIC) instead. The governors felt this was a more suitable structure and would give the school more control over the business and finances. A CIC was registered with the CIC regulator and Companies House and the dissolution of the CIO started.
The RI went on the Charity Commission website to dissolve the new CIO online; however, he was then contacted by a case worker who questioned the transfer of assets. CIC’s are not charities so the assets cannot just transfer over without approval from the Charity Commission and as things were not clear in this area, the CIO was flagged with a ‘regulatory alert’
Early Years Wales provided support in relation to the CIO, Charity Commission and CIW but the governors dealt with the CIC and TUPE regulations.
The RI acknowledged the amount of work Early Years Wales had put in and he was very thankful and apologetic too, as receiving the regulatory alert was alarming and the school needed support to complete the transfer from CIO to a CIC in line with regulations.
Thanks again, you can not underestimate how much we appreciate your time and effort.” Thank you Sue, Sorry Sue!!!
(Assistant Head Teacher)