In setting up a CIC we have met with a local Solicitor in order to ask him to set up the company rather than just downloading the appropriate forms from the CIC Regulators website. He has quoted £500 to do this, is it wise to employ a Solicitor or is it acceptable to do it without his assistance. Also we need some help in drawing up a Lease Agreement with the Landlord would a Solicitor be expected to cover this within the remit to set up the CIC.

I am working with a pre-school who would like to give up charity status & become a CIC ltd by shares. They have assets of £10k & cash of £10k. They hold a PLA constitution. Can they choose who their assets are given to & is it possible for the new company to buy equipment from the charity? Also some of the money in the bank acount is nursery education grant funding for 3&4 yr olds: can this money be transfered to the new company? Thank you