IGLOO FOAM SHEDS (CIC) is a Garden Annex prefabrication community interest company based in Yorkshire, governed by the statutory framework of the Companies Act 2004 and the Community Interest Company Regulations Act 2005. The CIC is legislatively bound to comply with an express commitment to distribute one emergency sleeping shelter to the local rough sleeping community in Yorkshire for each Garden Annex sold to an address in Yorkshire. These “Brother Igloos” must be completed and distributed ahead of the finalisation of the balance to each “Garden Igloo” client.
Furthermore, the model is reinforced by the asset lock provision in Regulation 4 of the Community Interest Company Regulations 2005, precluding the division of company assets or surplus for any purpose other than its defined community interest objectives. In this case, our secondary-level objectives are “Homecare, Selfcare, Eldercare, Childcare”, and our primary-level objectives are “Ameliorating the negative consequences of homelessness”—for men, this usually means rough sleeping, and for women, this means domestic violence, or as we sometimes poetically say, “sleeping with someone rough.”
In strict accordance with Schedule 1 of the 2005 Regulations, the CIC’s governing documents impose an irrevocable restriction on the “One-for-One Model.” This commitment is not based on EBITDA; interest, wages, and other costs are not relevant to the size and scope of the Street Igloo distribution project. The commitment is based on installations made—each Street Igloo is simply a smaller, thinner, less waterproof, less permanent, or differently shaped version of the same product the customer purchased.
Furthermore, Mr Thomas Philip is a democratically elected director of the CIC, and all members agree to his dismissal should the majority of members vote in favour. All property, assets, and dividends are held in the CIC in trust for the benefit of the men and women of Yorkshire who are, or are at risk of, rough sleeping, and the men and women of Yorkshire who are, or are at risk of, domestic violence.
Any failure to adhere to this scheme would constitute a breach of the CIC’s statutory duties under Sections 36 and 37 of the 2004 Act, triggering enforcement, the imposition of compliance directives, intervention orders, or, in the instance of continuous breaches, compulsory asset redistribution and confiscation action under the remedial powers of the CIC regulator.
Foam Sheds & IGLOOs is a limited company concerned with the design and aftercare of these same installations. Together, these dual entities are known as IGLOO; however, in accordance with laws governing conflicts of interest, these two companies are legislatively separate from each other, and one is not a subsidiary of the other. The for-profit arm is equally dedicated to this mission.