Law guide: Business start-up

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Filing requirements

Filing requirements

Filing requirements


The accounting requirements for a CIC are the same as those of other companies. The Regulator of Community Interest Companies says that CICs should try and produce accounts that provide high-quality information to shareholders (but at a reasonable cost to the CIC), rather than just complying with the minimum requirements.

Community interest company report

CICs must prepare an annual community interest company report, which is filed with the accounts using form CIC34.

This report shows that the CIC continues to satisfy the community interest test that it passed when it was formed or converted, and that its activities continue to benefit the community.

As with the accounts, the Regulator considers that CICs should provide as much information as possible in this report rather than just providing the minimum to comply with the regulations.

The report must include:

  • a fair and accurate description of the CIC's activities that have benefited the community;
  • details of consultations with persons affected by the those activities (if any);
  • details of the directors' remuneration (unless full details are provided in the annual accounts of the CIC);
  • the value (or a fair estimate) of transfers of assets made at less than market value;
  • details of dividends declared on shares and compliance with the capping rules set by the regulations; and
  • information on any performance-related interest paid on loans or debentures.

The Regulator has provided example completed reports.

Delivery of accounts and community interest company report

These must be delivered at the same time to the Registrar of Companies each financial year, with the appropriate fee.

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