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An unincorporated association is a straightforward legal form typically chosen by a group of individuals who agree to come together for a common purpose, often of a social nature. This structure is easy to set up and incurs no initial costs.

How unincorporated associations operate

Unincorporated associations make their own rules for running the organisation and set these down in a democratic constitution. A management committee is elected to run the organisation on behalf of the members (if it has any).

Unlike companies, unincorporated associations do not need to register with or be regulated by Companies House or the Financial Conduct Authority. This offers greater operational freedom, as they are not required to submit annual returns.

Charitable unincorporated associations

If an unincorporated association's objects are exclusively charitable and those objects are for the public benefit, the association should apply to The Charity Commission for Northern Ireland to be registered as a charity. All charities must follow the requirements of charity law, and most registered charities must also submit annual returns to the Charity Commission.

The Charity Commission for Northern Ireland provides information on how to .

The Department for Communities (DfC) provides .

Unincorporated associations and personal risk

Unincorporated associations have no separate legal identity. This means that their members will have to sign loans and contracts as individuals and carry the risk of personal liability.

This form is unlikely to offer a long-term solution if you intend to sign contracts or expand the enterprise. You should consider incorporation if you intend to:

• take on employees
• raise finance, apply for grants or open bank accounts
• issue shares
• enter into large contracts
• take on a lease or buy freehold property

This should help you to gain access to a wide range of financing sources that will not put your personal assets at risk.  The Northern Ireland Council for Voluntary Action (NICVA) provides further .

A trust is a way to manage assets given by an individual or organisation, ensuring they are used for a specific purpose. Many organisations, such as those involved in education, healthcare, providing advice and conservation, can be structured as trusts.

How trusts work

Trusts are unincorporated bodies and do not distribute their profits. They're managed by trustees. Trustees do not benefit from the trust, but act on behalf of the community for whose benefit the trust is set up. Trusts make their own governing rules and have no legal identity of their own.

Trusts have a trust deed which protects their social objectives. This covers the terms under which an individual or organisation is given assets. It also lists the intended beneficiaries and the conditions under which the trust's assets may be used.

As trusts can hold property and other assets for the community, they can act as sister bodies to unincorporated associations - see unincorporated associations.

Trusts are relatively straightforward and cost-effective to set up. As they have no separate legal identity, the trustees are personally liable for the trust's liabilities. You should seek legal advice on whether you need to register the trust's name with Companies House.

Asset locks

Trusts may write an asset lock into their rules to secure assets for their intended community. Some other social enterprises can also do this - see Community Interest Companies and community benefit societies.

Charitable trusts

If a trust's aims are exclusively charitable and those aims are for the public benefit, the trust should (in most cases) apply to the Charity Commission to be registered as a charity. The Charity Commission for Northern Ireland provides further information on .

Development trusts

Development trusts are community owned and led organisations, and do not distribute any profits. They provide a hub of trade or service with the aim of regenerating their local community - eg to develop or manage property, restore buildings or improve the environment.

There is no standard legal form for a development trust. Most register as a company limited by guarantee and in a few cases as an industrial and provident society. Many register as charities.

The limited company is an organisational structure which gives limited liability to its members. Some social enterprises take on the form of a limited company. This is a more accountable form than, for example, an unincorporated association.

Limited companies may have an 'objects' clause that sets out the company's aims or purposes. These objects can be commercial. However, if your business is a social enterprise, the objectives should also be related to social and/or environmental goals. For example, this could involve rejuvenating an area. It could also involve providing jobs and/or training for people who are disadvantaged in the labour market.

Social enterprises that are registered charities must only have objects that the law defines as charitable, such as relieving financial hardship or promoting education.

Types of limited company

There are two incorporated forms to choose between when setting up a social enterprise as a limited company:

• Company limited by shares (CLS) - shareholders each hold shares in the company. Their liability is limited to the amount unpaid on shares they hold. A public limited company (plc) differs from a CLS in that its shares can be sold to the general public.
• Company limited by guarantee (CLG) - each of the members gives a guarantee for a certain sum. The sum will go toward the company's finances if it is wound up. A CLG cannot raise finance by issuing shares, nor pay dividends to its members.

The issues are complex and you should seek professional advice.

Limited company registration and costs

All limited companies must register (incorporate) and file annual returns at Companies House.

Limited companies must also submit a set of memoranda and articles of association.

There is a fee for incorporating your company with Companies House. The fee varies depending on:

• whether you submit the necessary documentation as hard copies or electronically
• whether or not you want to incorporate on the same day that you submit the documentation

Find .

Limited companies can also be set up as charities if the organisation has exclusively charitable objects and is for the public benefit. They should (in most cases) apply to the Charity Commission to be registered as a charity. However, it is very rare for a CLS to be a charity - social enterprises as registered charities and Community Interest Companies.

A Community Benefit Society (CBS) conducts business for the benefit of the community. They don't distribute profits to members or external shareholders but reinvest them in the community.

How Community Benefit Societies operate

Key characteristics of Community Benefit Societies include:

• They are set up with social objectives to conduct a business or trade.
• They are run and managed by their members.
• They must submit annual accounts.
• They can raise funds by issuing shares to the public.
• They can be established as charities, but only if they have only charitable goals that help the public. This lets them raise money from public grants and charities. If approved, they're called exempt charities. They report to the Financial Conduct Authority (FCA), not the Charity Commission.

Difference between a Community Benefit Society and a co-operative

Community Benefit Societies are not to be confused with co-operatives:

• Co-operatives operate for the mutual benefit of their members. They may or may not be a social enterprise, depending on their activities and how they distribute their profits. Community benefit societies reflect commitment to the wider community, with profits being invested back into the business.
• Co-operatives cannot be established as charities. Community benefit societies can be established as a charity as long as it has an asset lock.

The Financial Conduct Authority (FCA) provide an .

Community Benefit Society: registration and costs

To register as a Community Benefit Society, you must demonstrate your social objectives and your reasons for registering as a society, rather than a company.

The FCA has made the decision that from 2019/20 fee year, registered mutuals will no longer pay annual fees. The FCA provides more guidance on the .

If you want to start a Community Benefit Society, you should seek legal advice. This is especially true if you are creating your own rules. See choose a solicitor for your business.

Asset locks

An asset lock protects a company or society's assets. It stops them from being transferred to private individuals or other companies. Charitable CBSs must have an asset lock. Non-charitable CBSs can apply an asset lock, which protects their assets for the future benefit of the community.

Many social enterprises have charitable status. It is only possible to gain this status if the purposes of your organisation are exclusively charitable and are for the public benefit. Charitable purposes include advancing education or religion, and relieving financial hardship.

Over many years, a host of other charitable purposes that benefit the community have been recognised as charitable by the courts or the Charity Commission.

Organisational restrictions on charitable social enterprises

Organisational restrictions on charitable social enterprises have several key points to keep in mind.

• A charitable social enterprise must have exclusively charitable purposes, and those purposes must be for the public benefit.
• The directors or trustees are responsible for administration and management and generally must not be paid for this work. However, charities can pay trustees (including the director) for providing goods and non-trustee or employee services to the charity. A range of safeguards are in place to prevent conflicts of interest or abuse.
• Any profits or surpluses made by the organisation must be invested back into it and used to 91香蕉黄色视频 its charitable purposes. Any profit or surplus must not be paid out to members of the charity.
• Assets must always be used for the charitable purposes of the organisation.

The Northern Ireland Council for Voluntary Action (NICVA) Northern Ireland Council for Voluntary Action (NICVA) . They offer specialist knowledge and expertise in charity law and governance.

with the Charity Commission for Northern Ireland.

Community Interest Companies (CICs) are limited companies that exist to provide benefits to a community, or a specific section of a community. The CIC has the flexibility of the familiar company form, and access to a range of financing options, so may be appropriate for those working for a social purpose.

Setting up a CIC

Registering as a CIC is a single process. When you register you choose to be a company limited by share or a company limited by guarantee. CICs must comply with the CIC Regulations and Company Law - see limited companies with a social purpose.

When registering your company with Companies House, you will need to provide additional documents, including a community interest statement describing your social purpose. The CIC Regulator will approve your application if your statement passes the community interest test - ie the business activities you intend to undertake will be carried out for the benefit of the community or a section of it, or that the CIC's purpose is in the community's or wider public's interest.

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CICs shouldn't be confused with charities. CICs cannot have charitable status but a charity can set up a CIC subsidiary company. This means they do not get the tax benefits of a charity, but in return they do not have the strict reporting requirements of a charity.

How CICs operate

CICs have to follow specific rules, including the following:

• CICs must have an asset lock. This means that the company cannot generally transfer its profits or assets for less than their full market value except as permitted by regulation. It will also protect any remaining assets for the community if you dissolve the CIC.
• If you set up your CIC as a company limited by shares, you'll have the option of issuing shares that pay a capped dividend to investors. The cap is set by the CIC Regulator to protect the asset lock.
• Together with your annual accounts, you must present an annual community interest company report for public record. The report must show what the CIC has done during the year to pursue its pre-specified community interest and involve the individuals or groups with a particular interest in the CIC.
• Certain voting rights changed on 1 October 2009. A CIC's chairperson no longer has the right to have a second or casting vote at a board meeting when the votes are equally divided. An alternate director can no longer - in the absence of their appointer - have a separate vote on behalf of their appointer as well as their own vote.

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As well as the mainstream 91香蕉黄色视频 available to all business start-ups there are some initiatives and organisations designed for social entrepreneurs:

• Social Enterprise NI is a . It provides a platform for collaboration and knowledge sharing. You can also keep track of the latest events and news relating to social enterprises.
• Free  are available from Community Finance Ireland.
• The Northern Ireland Council for Voluntary Action (NICVA) Northern Ireland Council for Voluntary Action (NICVA) . They offer specialist knowledge and expertise in charity law and governance.

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