Notice of proposed change of objects

Diesel AK CIC (company number 14938881)
Published: 10 October 2026

Diesel AK CIC is a Community Interest Company. Our shareholders are being asked to pass a special resolution to change the objects (the purpose) set out in our articles of association, and to add rules that make our non-profit status explicit. The change only takes effect if the Regulator of Community Interest Companies approves it and Companies House registers the new articles.

What is changing

• Our objects. Our purpose will be to carry on activities which benefit the community, and in particular to provide martial arts training, physical education, athletic coaching and sports facilities, with the aim of fostering community health and fitness and the development of young people.
• Surpluses are reinvested. Any surplus must be spent only on maintaining and improving our facilities, mats and equipment, on expanding our coaching programmes and community sports initiatives, and on keeping prudent working reserves.
• No dividends. The company may not pay any dividend or other distribution to its shareholders, and shares carry voting rights only.
• Fair pay. Directors, coaches and instructors cannot be paid by reference to the gym's profit, turnover or membership income. Directors and shareholders who coach or help run the gym may only be paid a fixed hourly rate or a flat fee per class, no higher than the market rate. Any contract with officers or shareholders must be in writing and on arm's length terms.
• Winding up. If the company is ever wound up, any remaining assets go to another asset-locked body such as a non-profit sports body, CIC or charity, and never to shareholders.

What this means for members

Nothing changes about your membership, classes or prices. The change formalises how we already run the gym: as a non-profit for our community, with everything we raise going back into the gym.

Questions or comments

If you have any questions or comments about the proposed change, please email info@dieselak.co.uk by 24 October 2026.