ABOUT YATELEY SPORTS
Yateley Sports CIC is a not-for profit community inspired initiative that was set up by the community for the benefit of the community.
Organised by a group of local Yateley residents, its express purpose is to enable the raising of money to build a multi-sports facility and wellness facility, based around Yateley United FC, for use by local residents.
In April 2014 Yateley Sports CIC completed the purchase of Sean Devereux Park, Yateley. Read the story so far.
WHAT IS A CIC?
A community interest company (CIC) is a new type of company introduced by the UK government in 2005 under the Companies (Audit, Investigations and Community Enterprise) Act 2004, designed for social enterprises that want to use their profits and assets for the public good.
CICs are intended to be easy to set up, with all the flexibility and certainty of the company form, but with some special features to ensure they are working for the benefit of the community.
A Community Interest Company (CIC) is a business with primarily social objectives whose surpluses are principally reinvested for that purpose in the business or in the community, rather than being driven by the need to maximise profit for shareholders and owners.
CICs tackle a wide range of social and environmental issues and operate in all parts of the economy. By using business solutions to achieve public good, it is believed that social enterprises have a distinct and valuable role to play in helping create a strong, sustainable and socially inclusive economy.
