The White Hart Inn Community Benefit Society Ltd, registration no. 8442, is a Community Benefit Society that is registered with the Financial Conduct Authority with the purpose of buying and running the pub and its associated operations. The rules of The White Hart Community Benefit Society Ltd can be found HERE.
The Prospectus is the document that defines the opportunity to purchase shares in The White Hart Inn Community Benefit Society Ltd
A Share purchase may be made by an individual, a business, organisation, or other body, as a family group or syndicate of individuals. You can also buy shares as a gift for someone. There may also be the facility to use a savings scheme to purchase shares.
Shares are available for purchase by anyone over the age of 18. Each share costs just £1. The minimum shareholding is set at one hundred shares, the maximum is twenty-five thousand.
The initial share offering will hopefully, along with grants and loans, raise sufficient capital to purchase The White Hart Inn, carry out the essential repairs and refurbishment needed for the pub to reopen, and for stock and provisions. Further share offers may be necessary if the initial issue falls short of what is required.
Investors are free to invest anything between £100 and £25,000, by purchasing shares, you will have a stake in this social resource and be making a tangible contribution to restoring The White Hart Inn.
There are Tax Advantages currently available to qualifying investors. Depending on the level of initial capital required to acquire and refurbish the pub, individual income taxpayers are able to claim income tax relief up to either 30% or 50% of the value of their investment. For example, on the highest rate of relief, an investment of £1000 will provide tax relief of £500, resulting the net cost of investment being just £500. In addition, investments in The White Hart Inn should qualify for 100% relief from inheritance tax in the invent of the investor’s death. This information is correct at the time of writing, obviously Tax Legislation and HMRC practice are subject to change at any time resulting in these tax advantages being amended or withdrawn.
The prospectus document details how income and been modelled, based on information available from previous managers and other sources. The society has put together a detailed business plan for the first five years trading. Based on the business plan, provided expected profit levels and future investment is achieved, there is an expectation that investors will start to receive interest on there investment from year five.
As with any investment, there is risk. In the event that the society are not able to acquire the pub, for example, if insufficient funds are raised, or the owner is unwilling to accept our offer to purchase, investments will be returned. Similarly, if after purchasing and running the pub, the business should fail, the pub will be sold and resulting funds used to repay investors. It should be noted that, being a community benefits society, any profit from the sale must be used for the benefit of the community.
The above is just a summary, full details can be found in the Share Prospectus and Business Plan