7 Jul 2015
Partner and senior counsel, Bates Wells Braithwaite
Stephen Lloyd was a partner and senior counsel at Bates Wells Braithwaite. He died in August 2014. He had particular expertise in the interface between charities and trading.
He was an author and presenter of numerous articles and seminars, and an adviser to CAF's Venturesome Investment Fund. He was a former chairman of the Charity Law Association and chairman of CaSE, LifeHaus Plc and the Centre for Innovation in Voluntary Action.
Lloyd was instrumental in creating the Community Interest Company legal structure.
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Stephen Lloyd responds to a trustee rightly concerned about the consequences of not fully disclosing details of major risk facing the company in their annual report, as required under the Companies Act 2006.
One of the risks that any charity faces is fraud. It is not a major risk – only a few charities, thankfully, are the victims of frauds. But fraud happens. It can involve employees, volunteers or property.
If it looks like a duck, walks like a duck and quacks like a duck, does it really matter whether it's labelled as a duck or re-branded as an aquatic avian? Last year The Ark generated £48,500 from trade and £47,500 from grants, so can we call ourselves a social enterprise? Social enterprise is an attitude, not a legal structure.
A lone voice on the board asks for advice on the rules and regulations regarding trustees becoming employees and employees becoming trustees. Stephen Lloyd responds.
Small payments to trustees (less than £1,000 to all trustees in total in any year) require no authority from the Charity Commission provided that certain conditions are met.
16 Sep 2015
8 Oct 2015
19 Nov 2015
11 Feb 2016