Bittern Countryside Community Interest Company supports the Arnside and Silverdale AONB Partnership
and the Landscape Trust
Firstly, what is a CIC?
Community Interest Companies are also often called social enterprises or Not-for-Profit companies.
This latter name isn't really accurate as social enterprises are interested in making profits. However there is a clear purpose to making money but it is not about making money for the shareholders and Directors. CICs have a legal duty to fulfil their Community Interest Statement, which sets out how the Company will work for the benefit of its community. Each year the Company has to report to the CIC Regulator.
The Bittern Countryside Community Interest Company (No: 6363720) was formally incorporated on 6th September 2007 as a social enterprise. The Company's principal objective is to assist the AONB in its work with conservation and enhancement of the natural beauty of Arnside & Silverdale AONB.
In common with all CICs, there is an "asset lock" from the Company to a charity or not-for-profit group which means that if it ceased operating, its remaining assets would be distributed for social/environmental purposes. In the case of the Bittern Countryside CIC, this asset lock body is the Arnside & Silverdale AONB Landscape Trust. Being an asset lock body does not compromise the Trust's charitable status or place any liabilities on the Trust for the company actions /activities. It does however help to ensure that any profits made benefit the AONB and its communities.
The Bittern Countryside CIC is a private company owned by its shareholders. There are ordinary shares and management shares (available to Directors). As a private company its shares cannot be traded and are not listed on any stock market or exchange. Unlike shares in a public limited company, the CIC's shares have a fixed value, with each ordinary share valued at £10 and management shares £1. For more information look at our Memorandum and Articles of Association.
Its registered office is the Old Station Building, Arnside, LA5 0HG
Some of the objectives of the company include;
Full details of the CIC´s work can be seen in the current business plan.