Company and community

2Ongoing company compliance

As a limited company, there are also a number of ongoing responsibilities to observe. Some form of accounts will need to be filed each year. There will also be a requirement to create and maintain company registers and file information with Companies House, including an annual confirmation statement and event-based submissions.

If the social purpose behind the company is only being pursued on an occasional or part-time basis, these formalities could represent a step too far – possibly leading the founders to look at pursuing the cause via an unincorporated entity.

 Many of the other standard disadvantages of a limited company will also apply to a community interest company.

Compared to operating as a charity, there are some specific community interest company disadvantages: