AnonyMouse_29320 Posted December 16, 2019 Share Posted December 16, 2019 Hi We are a committee led pre-school at the moment and upon possession of our new building, we have been asked to become a limited company. Has anyone been through this process before and do we have to re-register with Ofsted which could possibly mean losing our past two outstanding ratings, interviews, medicals etc Any advice would be most appreciated. Quote Link to comment Share on other sites More sharing options...
AnonyMouse_25678 Posted December 20, 2019 Share Posted December 20, 2019 I would recommend becoming a Community Interest Company as opposed to LTD Co. but it depends on why you are doing it. If you have a strong committee I would stay as you are assuming you are a registered charity. To change would mean new Ofsted - you old outcomes still show but when I took over our pre-school as our committee folded I had to go through re-registration, medical, interview etc which was expensive and stressful bearing in mind I had been the manager for 8 years. As a CIC you are still able to access grants etc which a LTD co can often no access and although you have to submit accounts to Companies House they are not as complicated as LTD Co accounts. We owned our building as a committee led and it wasn't a problem. Quote Link to comment Share on other sites More sharing options...
AnonyMouse_30128 Posted December 21, 2019 Share Posted December 21, 2019 if you are moving buildings you will need to reregister anyway ...unless you are in exactly the same postcode! The reason for becoming a company (either CIC or LTD) is to lessen the liability on your directors to a very small amout (About £5!!) this is quite normal if you are taking on a lease. Quote Link to comment Share on other sites More sharing options...
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