Can I use my Limited company to make fundraising for a charity purpose?

Jessica9_2

Annisele wrote: »

When I set my company up my accountant went through my M&A with me. I supposed technically it might be a legal issue - and so a solicitor could advise - but most accountants will have a very good idea of the basics.

Unfortunately my accountant was not very helpful (was focused on his invoices) and I do not remember that he ask me the Memorandum & Association of the company.
Presently I am looking for another accountant (In fact my accountant even gave me wrong advices on several occasions).

Annisele wrote: »

Are you sure you wouldn't be easier / better all round to just run a normal profit making company and then making donations to registered charities?

No, I definitively need to make the fundraising through my own company.

Jessica9_2

paddyrg wrote: »

Whoa stop a second - are you ready for this?

If you have a limited company, you already have an M&A. You can't form one without. Are you registered with companies house? As the sole director it is important to know this stuff!

Yes, I am registered with companies house and I have my company M&A just in front of me : my (big) mistake was to rely on agents and my accountants during the last 3 years and also I still not very familiar with this.

Presently I have just canceled my contract with my accountant, and closed my company bank account with Lloyds since the first one was negligent while the second was charging to much (important rate on foreign currency transaction while they refuse that I have equally a foreign currency account with them).

During the last 6 months I have not traded and also I would like to know if I can start the fundraising using a paypal account before to re-open another one. Or should I re-open another bank account now with Barclays?

paddyrg

For the sake of segragation and liabilities, it's probably worth separating the activities as much as possible. I would also open a 'real' bank account as opposed to using a paypal one, however that's more to do with looking credible than anything else.

It sounds like you may need to find a good new accountant you trust and talk it all through with them - this might be a bit too nuanced to trust to a forum.

Jessica9_2

paddyrg wrote: »

For the sake of segragation and liabilities, it's probably worth separating the activities as much as possible. I would also open a 'real' bank account as opposed to using a paypal one, however that's more to do with looking credible than anything else.

It sounds like you may need to find a good new accountant you trust and talk it all through with them - this might be a bit too nuanced to trust to a forum.

You are certainly right, but by separating the activities, do you mean one account for fundraising and another one for the company own trading? Because I will prefer to have only one for both in order to reduce bank charges.

Firefox1975

!!!!!! is this thread all about?

This seems like such a load of old hogwash it's unbelievable.

And that opening paragraph, profit making activities? seperate divisions?no beholdent to any corporate?

but no mention of what on earth they plan to do?

Sounds like a job for "Shiver Me Timbers" on scambaiters.

surely a joke.

Jessica9_2

Firefox1975 wrote: »

!!!!!! is this thread all about?

This seems like such a load of old hogwash it's unbelievable.

And that opening paragraph, profit making activities? seperate divisions?no beholdent to any corporate?

but no mention of what on earth they plan to do?

Sounds like a job for "Shiver Me Timbers" on scambaiters.

surely a joke.

It seems there is no chance for newbie on MSE.

I have just realize that I should just continue my company as normal and make donation to organization like another user advised.

Jessica9_2

Annisele wrote: »

Are you sure you wouldn't be easier / better all round to just run a normal profit making company and then making donations to registered charities?

In conclusion, it seems that it is the better solution but I have put a donation form for charities : in fact I have the duty to organize events for a cause and a portion of each of my company trades will be invested in these events.

LittleVoice

Jessica9 wrote: »

In conclusion, it seems that it is the better solution but I have put a donation form for charities : in fact I have the duty to organize events for a cause and a portion of each of my company trades will be invested in these events.

What cause? Registered charity? Do you know the regulations regarding fundraising for charities?

Jessica9_2

LittleVoice wrote: »

What cause? Registered charity? Do you know the regulations regarding fundraising for charities?

It is not for necessary for charities, it is for a community/cause so that is why I was equally thinking of a Social Enterprise instead of a limited company.

keith1950

If you want people to donate money you need to be specific about the actual recipients of this money before it is donated.

From a lay mans point of view this all sounds a bit dodgy.

You may have the best of intentions but I can tell you that there is no way I would donate money to anything other than a registered charity and even then I would vet their ethics.

I think you are going to have an uphill struggle to make this work however I wish you luck.