Starting a Community Interest Company (CIC) with the aim of promoting sustainability and supporting local charities and projects is a commendable initiative.

Here's a step-by-step guide to help you establish your CIC and its relationship with the three other limited companies:

Setting Up the CIC - O.C.F.S.:

• Registration: Register the CIC with Companies House. You'll need to provide a 'community interest statement' explaining your business plans.
• Constitution: Decide on a suitable legal structure. CICs can be limited by shares or by guarantee.
• Directors: Appoint directors for the CIC.
• Asset Lock: Ensure that the asset lock is in place to ensure that assets and profits are used for the public good.
• Regulator's Approval: The CIC Regulator will assess your application to ensure it meets the requirements for CIC status.

Creating the Three Limited Companies:

• Register each of the three companies with Companies House.
• Define the purpose and objectives of each company, ensuring they align with the sustainability goals of O.C.F.S.
• Appoint directors for each company.

Shareholding Structure:

• Since the CIC will have the majority of shares in the three limited companies, it is important to clearly define the shareholding structure.
• Keep in mind that the CIC's dividends are limited. Therefore, any profits from the subsidiaries that are distributed to the CIC will be subject to this limit.

Operational Strategy:

• Clearly define the roles and responsibilities of each entity.
• Establish collaboration mechanisms among the four entities to ensure cohesive work towards the shared sustainability goals.

Legal and Financial Considerations: