A new company has been created – a Community Interest Company – this new company has now been registered at Companies House under number 12499608
With the new company’s registration we have now opened a bank account and will soon calling in your pledges of financial support.
Aston Community Store CIC has been incorporated as a community interest company in order to take advantage of beneficial tax treatment available to companies which function primarily to support and enhance community life. The intention is that this will give the project the best chance of thriving and being able to continue to operate and ideally grow its business offering in the long term. Pledgors should be aware that there are restrictions on the ability of CIC companies to distribute profits to shareholders, and that consequently the majority of any profits that the company makes will be reinvested into the community. Whilst your pledge will give you shares in the company, which will you may be able to sell, we recommend that this project is seen not as a financial investment but as an investment in your community and in the collective village life of Aston, Cote, and the surrounding area.