We can’t take profit out of the company, it can only be reinvested towards the objects of the companyTerry Galloway
We are “not for profit” which means we can make profit but it can’t be for the profit of shareholders or directors. This is achieved through an “asset lock” meaning profit and assets can only be reinvested to achieve the objective that the company has set out.
Norman Galloway Homes is regulated by The Office of the Regulator of Community Interest Companies. They decide whether an organisation is eligible to become or continue to be a community interest company (CIC). It is responsible for investigating complaints and taking action if necessary.
The Objects of the company as set out in our memorandum and articles of association.
5.1 The objects of the Company are to carry on activities which benefit the community and in particular (without limitation) to the company we will benefit vulnerable people including those at risk of homelessness and those that are homeless
5.2 This will include but is not limited to; providing supported accommodation and/or enhanced tenancy management for those that are homeless or under threat of homelessness.
5.3 The company will actively seek to partner with but not limited to; House builders and local authorities to develop new build social housing.
5.4 The company will also have a special interest in developing better pathways from intensive housing management and support right through to employment where a reliance of state benefits ceases.
5.5 The company will work with tenants, landlords, the community, educators, businesses, and local authorities to help create move on accommodation. This can include but is not limited to help with, sustainability, education, training, and employment opportunities
5.6 Our goal is to create better care plans and pathways for children in care and work readiness programmes that include care leavers and other vulnerable groups including victims of domestic violence.
Registered office 58 Carlton Road, Nottingham, NG3 2AP. We are registered at Companies House in England as a Company Interest Company (Number 11953321)
We are also responsbile for complying with GDPR and are Registered for Data Protection with the Information Commissioners Office No ZA251605. Our Privacy Notice can be found here