Social enterprise status confirmed for club
Honiton Gymnastics Club incorporated as a Community Interest Company
Honiton Gymnastics Club received confirmation this week that it has been certified by Companies House as a Community Interest Company.
Despite always existing for the benefit of young people and adults in the community, the move means that Honiton Gymnastics Club is now fully incorporated and has an official ‘asset lock’ in place. This serves as a guarantee to ensure that—should the club ever run into difficulties—the assets of Honiton Gymnastics Club (including any profits or other surpluses generated by its activities) are used for the benefit of the community.
“Becoming a Community Interest Company, with clear and specific outlined benefits for thecommunity has been a key priority for us for some time now,” said James Reddy, board member at Honiton Gymnastics Club. “Our recent upheaval from our Ottery Moor Lane centre put this on hold for a short time. However, as part of our mission to secure a long-term venue that will enable anyone in East Devon to participate in gymnastics, formalising our corporate governance and becoming a CIC quickly became a very high priority.
“It’s the next step in our journey, demonstrating to potential supporters and funders that Honiton Gymnastics Club is a strong, community-focussed organisation that also operates effectively as a business.”
Some of the advantages of the club’s new CIC status include providing a clear, limited company structure. All five board members remaining the same as when the club was an unincorporated not-for-profit. These board members are James Reddy, Helen Reddy, Pam Burns, Melissa Pendrick and Emma Smith.
Any potential supporters, who feel they may be able to assist the club in their quest to find a new centre for their 500+ gymnasts (and 400 young children that are on the waiting list) should contact James Reddy at email@example.com