An Invitation to Purchase Community Shares in                    Almondsbury Community Shop           

Latest position: July 3rd.

At the beginning of July both parties have appointed solicitors to progress the purchase of the shop.

Our application for a grant from the Lottery funded 'Community Business Fund' has been submitted. The closing date for submission is July 5th and within 6 weeks of then we will know if we are to go through to the next stage.......fingers crossed!!!

We are still receiving new registration forms stating interest in buying Community Shares which is great news......we have over 100 people interested now which will provide a wide and varied ownership across our community. Just what we want!  

Keep telling your friends and neighbours - it only takes £20 to become a shareholder and that gives you a real stake, and say, in the future of our shop.

an Extraordinary General Meeting was held in the Old School Hall at 7:30pm on monday, June 5th. 

 

92 members attended to discuss our project to buy the shop property and issue Community Shares to help cover the cost. That's 40% of our membership!  

 

Our chairman, Alun Evans, presented and explained the details of the project and members asked several technical questions for clarification. This will all be reflected in the share prospectus when it is issued in August.

 

A key point to mention now is that to become a Community Shareholder, a person has to be a member of ACSA first (at a one off cost of £2 as always). After the share issue, members and shareholders will have equal voting rights: 1 vote per person regardless of the amount of shares purchased. This will maintain the widest possible involvment across our community in decisions about the future of the shop.

 

This led onto a consideration of whether the volunteer ethos of the shop community could be threatened by the existence of different types of community member – after discussion, a vote was called which confirmed unanimously (from where I sat!) that the ethos was not under threat.

 

At the end of the meeting members voted unanimously to proceed with the project as discussed.

 

A comment that this was our opportunity to provide a legacy to our community for many years to come, seemed to sum up the feeling of a very positive meeting.

 

The presentation and notes from the Q&A can be downloaded by clicking the links below.

 

Thanks to everyone for their attendance and support.

EGM Presentation
Slides from the Extraordinary General Meeting of June 5th.
EGM.pdf
Adobe Acrobat document [2.2 MB]
Questions and Answers from EGM
Notes taken from the Q&A at the EGM, June 5th providing clarification on some points.
egm notes.pdf
Adobe Acrobat document [46.5 KB]

We have agreed a price (subject to contract) for the shop with the PCC and your pledges are almost there! 

 

To support a wider involvement across all of our community, we have decided to lower the minimum purchase to £20 and reduce the maximum.  Please see the updated Pamphlet  and form below  - if you have registered already, you do not need to do it again! 

Introduction to the Shop Purchase project

PLEASE HELP US TO SECURE OUR SHOP'S LONG TERM FUTURE

 

As you may be aware we rent the Old School House from the Church. Every year this beautiful old building's declining state of repair results in lots of hassle for everyone involved. From our perspective we would much prefer to buy the property rather than rent but this would require substantial funds. However owning the property would enable us to maintain and improve this great community building and shop facility for posterity. Recent discussions with the Parochial Church Council have indicated that they are interested in our proposal, with obvious caveats regarding the purchase price.

 

But how could we raise several hundred thousand pounds to both purchase the property and undertake urgent repairs? Some grants and loans may be available but since 2009 many community businesses have issued Community Shares to raise funds from members of their own community. To date over 120,000 people have raised more than £100m to support 400+ community businesses throughout the UK so we have determined to try to do the same. What are Community Shares and what's so special about them?

 

  1. They can only be issued by registered Community Benefit Societies such as ours.

  2. They pay a competitive interest rate, are withdrawable from the Society at the original purchase price and cannot be traded or transferred between other parties.

  3. To encourage people to invest in their community, the shares qualify as an Enterprise Investment Scheme (EIS) with UK tax authorities. This provides significant personal tax benefits including:

 

 

OUR GOAL

 

To raise over £300,000 towards

the purchase and renovation of the premises of

Almondsbury Community Shop

 

WHY INVEST?

 

To secure the future of a community facility

To make a return on your savings

To receive substantial tax reliefs

To own shares backed by a property asset

 

 

Community Shares are a great opportunity for you to invest in your community and get a return on your savings!! 

 

To help explain, we have produced a pamphlet describing the Community Share offer which is available below (online) and in the shop in paper form.

 

Below you will find the questions addressed in the pamphlet and a link to register your interest in the shares online. A paper form is also available in the shop if you prefer.

 

Links are also provided to some external sources of information about Community Shares for your examination.

 

 

Our Pamphlet answers these questions ;  click them to read the pamphlet for the answers (UPDATED 16 May) or click the link to register your interest...

 

What is Almondsbury Communnity Shop?

 

Who runs the Shop and the Society?

 

What is this investment for?

 

Why invest?

 

What's in it for you?

 

Can anyone buy community shares?

 

What is the minimum investment?

 

Is there a maximum investment?

 

When would the investment be needed?

 

What are the risks of buying community shares?

 

Can I withdraw my shares?

 

How safe is my money?

 

Is the Shop financially robust?

 

What happens next?

 

Register my interest now!

 
Plunkett Foundation guide to Community Investment
Community_Investment.pdf
Adobe Acrobat document [209.9 KB]
Community Shares Guide
5801_CO-OPSUK_Web.pdf
Adobe Acrobat document [1.8 MB]

Photos of our 6th Birthday Party by Louis Harvey.

We are located at:

14 Church Road

Almondsbury

Bristol

BS32 4ED

01454 202412

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      8:30 - 18:00

Saturday:                

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ACSA Ltd - listed as Registered Society number 29956R with the Financial Conduct Authority under the Co-operative & Community Benefit Societies Act 2014