Community Interest Company - Quickfile Setup - Help!

[Gigabit]

I represent a very small not for profit Community Interest Company that is providing Fibre to the Premises (FTTP)connectivity to a rural area of the NW. (www.gbcic.uk)

We’d like to use and subscribe to Quick file to manage our P&L and just keep track of everything simply. We are not accountants - just technical folk bringing fast broadband to places ignored by BT and others. All done without funding and on a shoestring budget… any profit from subscribers reinvested into network…

As a CIC, I am not sure which company type to choose in the drop down. We are VAT registered and act like a Limited Company (we are limited by shares not guarantee).

Any ideas?

[Glenn]

I would go with “Charity (Limited)”. It won’t make a huge amount of difference aside from a few extra ledgers and features that you most likely won’t use. The bookkeeping side is much the same whichever trading model you use and you will certainly be able to run a P&L for any period.