What is the Society?
The Bell Inn Iden Community Limited is a limited liability community benefit society registered with the Financial Conduct Authority (FCA). The Society’s FCA registration number is 9244 and the registered address is Danesbury, Main St, Iden, East Sussex TN31 7PT. The Society was registered using a set of pre-approved model rules developed by Plunkett UK, a charity that has been helping communities to set up and run community-owned enterprises since 1919.
Society Structure, Responsibilities and Governance
The Society is a democratic organisation that operates on the principle of one member one vote, regardless of the amount each member has invested. The Society has an interim Management Committee (now known as the Management Board) , which will remain in place until the first Annual Members’ Meeting. The Board will continue its development work until completion of the purchase of The Bell. After this date the Society will organise an AGM where all Society members (essentially those who have purchased community shares) will elect a minimum between 3 and 12 members to form the new Management Board. The newly elected Management Board will take office immediately after the conclusion of that meeting with one third serving for 3 years, one third for 2 years and one third for 1 year. Thereafter, members are elected for 3-year terms.
The interim Management Board is responsible for managing the affairs of the Society in the same way as a board of directors is responsible for managing the affairs of a limited company. Due to its non-profit nature, a community benefit society’s assets must be transferred to another body with a similar purpose on winding up, or returned to investors.
Aims & Objectives
Our objective is to establish The Bell as a thriving community pub at the heart of the village and the local area. By being inclusive for all, supporting community initiatives and enhancing our environmental sustainability, we will ensure that The Bell benefits everyone in the local community now and for the long term.
