Q. Are you FoOLs?
A. Yes, but only by name! We commonly use the acronym FoOL since Friends of Otley Lido can be a mouthful! However, there is nothing FooLish about our vision. Lidos around the country are experiencing a magnificent resurgence with many which were previously closed looking to re-open or having already re-opened. Our plan to bring the lido to fruition follows an established path used by other lidos.
Q. What is a Community Interest Company?
A. A Community Interest Company (CIC) is a social enterprise that uses its profits and assets for the benefit of the community. In many ways it is similar to other companies and subject to similar legal requirements. For example, FoOL is registered with Companies House (No. 10008956), we have company directors, and we file tax returns and pay corporation tax.
Q. Does anyone in FoOL receive a salary, fees or similar payments?
A. No. FoOL is a company run by volunteers. The only money anyone receives is for reimbursement of expenses incurred on behalf of FoOL. We have procedures in place to obtain quotes and approve purchase before they are made. Expenses are only reimbursed upon production of receipts. Generally, payments are made directly from our account or paid by card thus avoiding the need to reimburse anyone.
However, like any company from time to time we commission professional services or consultants when external expertise is required. Where the fees are likely to be significant we put the contract out to tender. It is worth noting that many of our partners are contributing their expertise on a pro-bono basis meaning they receive no payment but do this in order to support our project.
Q. What happens if FoOL does not succeed with its plans?
A. Our Articles of Association require that if FoOL is dissolved any assets will be distributed to other local community-minded groups.
Q. Why is FoOL's vision for the site so elaborate and expensive with restaurant, gym, etc.? Why can't there just be a simple seasonal lido?
The simple answer is that the additional facilities (restaurant, gym, etc.) are required in order to make the venue a self-sustaining operation by providing additional sources of income. The advice we have received from multiple lido operators has convinced us that these the additional facilities are necessary in order for the lido to be financially sustainable.