We are a Registered Society (formerly known as Industrial and Provident Societies) and are listed as RS7923 on the Mutuals Register with the Financial Conduct Authority.
Our legal form is that of a CBS or Bencom.
As a social enterprise we exist to benefit the wider community, and reinvest any profits back into the business to benefit the community we are set up to serve, ie Eastbourne in our case. Because our purpose is exclusively charitable, and we have a strong asset lock, we pass the community benefit test for HMRC purposes and are therefore recognised as a charity with the same tax benefits as registered charities.
Eastbourne CLT is recognised by HMRC as being exempt from regulation by the Charity Commission but is nonetheless a Charitable Bencom.
The democratic structure in our Rules dictates that our membership is drawn from across the community, with each paid up £1 Member having one vote at the AGM.
Much like a company, a Bencom can raise finance from a variety of sources. A key feature of Bencoms is the ability to advertise to potential socially minded investors. A Bencom may issue withdrawable Community Shares to raise equity finance. All other restrictions on regulated financial activities apply in the usual way.
Our team of volunteers consists of qualified and motivated professionals supported by business and construction specialists. Collectively, we have many years of experience of serving our community and together we are committed to seeing affordable housing for key workers in Eastbourne.
Sandy has founded several local charities but discovered secure housing to often be an issue for clients. As part of Habitat for Humanity in Eastbourne during the millennium years, she volunteered with many others to raise funds and support 2 Langney families with their self build homes in Faversham Road.
Chris runs his own specialist Archeology Books company from home. A former Cemetery manager he is passionate about land use and preserving it for future generations to come.
Howard was for 20 years a FE College Manager and Business Studies Lecturer.
Julia runs a small business from home.
Since 2019 we have been pleased to work with the following businesses and support organisations
A ten year old support and enabling for all Uk based CLTs now numbering over 300 groups. They include Co-operatives, Charities, Bencom, Companies, etc.
The Sussex Hub is run by AiRS (Action in Rural Sussex) providing support to local communities wanting to start a CLT. There are now over 20 Sussex based CLTs in existence. The nearest to us is Bexhill and Herstmonceux. Others are in Brighton, Hastings, Lewes and Ringmer.
Goscombe is an award winning family owned company seeking to bring affordable housing to villages and towns Across Sussex.
Development officers at EBC, Leighton Rowe and Sarah Roberts, have actively supported us during the setting up of ECLT, and with identifying land for development, plus securing us a grant to kickstart our fundraising.
John Caladine is advising on financial matters and helped us complete our first year end accounts and submission of our Annual Return to the FCA.
Zara Cotton is assisting us with legal advice during draft stages of putting together contracts.