GovWire

There are 2 types of community interest company (CIC) report: detailed and simplified. The majority of CICs complete the simplified report.

The detailed report is reserved for CICs that have more complex financial arrangements. This includes if the CIC has paid a performance related interest on a debt outstanding or debenture.

For those CICs limited by shares the detailed report also allows you to show dividends declared or proposed to declare in respect of the financial year to which the report relates or has declared a dividend in respect of any of the four financial years immediately preceding that financial year.

If you complete the detailed report, you might need to get professional advice in relation to the financial information sections.

CIC reports are placed on the public register and made available for the public, which provides an opportunity to showcase your CICs activities and the benefits provided for the community over the last year. Your report does not have to be especially detailed, but you should identify highlights.