About Freelending Community Interest Company


Freelending CIC Company Number 6749438 was incorporated 14th November 2008

Community Benefits

To create a Community Interest Company (CIC), the registrar has to be satisfied that the would-be-CIC has clear community benefits in mind.


Community Benefits foreseen at the time of forming Freelending CIC:

Facilitate the lending and borrowing of items, skills etc

- The community will benefit from:

1) Increased opportunity to access items, skills etc at no cost to user or lender.

2) Increased social engagement with the key skills of being able to work constructively with problems that arise out of loaning/borrowing.

3) Building trust and connectedness amongst the residents of a local area.

4) Saving expenditure and resources


Enable the exchange (or barter) of items

- This connects people who see value in exchanging items, enabling them to live on lower incomes.


Enable the giving away of items

- Creating more space where people recognise the value of de-cluttering.

- Finding new homes for what is not wanted.

- Creating more opportunities for others to benefit from the generosity of individuals.


Enable the receipt of given items

- Creating satisfaction and support.


Researching and developing both hi-tech and low-tech methods of encouraging sharing and community-building.

- The community will benefit by shared learning of which schemes have achieved which outcomes in terms of community participation, community cohesion and generosity.

Why we chose to form this CIC:

We have formed a company to manage freelender.org:

- to keep freelender finances and reputation as independent as possible from the other on-going concerns of those involved


The form of the company is a Community Interest Company:

-to be more accountable to the community and lock assets.

(We are not forming a charity yet due to the added complexity)


Considerations from Chapter 2 of the Guidance

(If we later have the wherewithal and wish to become a charity, this is achievable by dissolution of the CIC:

"Under s 53 of the Companies (Audit, Investigations and Community Enterprise) Act 2004 a CIC is only allowed to cease being a CIC by dissolution or by converting to a charity, which means that once a company has become a CIC it cannot convert to an ordinary non charitable company."(taken from this page))


A useful brief factsheet (albeit misleading in relation to converting a CIC into a charity) is here:  co-operative-futures-cic-factsheet.pdf


We have set up intially with two directors -Paul Crosland and Edmund Johnson


The four categories of business (SIC codes) we have registered are:



Memorandum & Articles of Association

Here are the Freelending CIC   Memorandum and Articles of Association.doc


-information about Freecycle UK charity


Freelending CIC Company Number 6749438 -incorporated 14th November 2008

Freelending CIC public records at Companies House