What is High Bickington CPT Ltd?

A Community Property Trust (CPT) is a model of community ownership. It is a non-for-profit organization owned and managed by local people. Any ‘surplus’ finance raised through its operations cannot be shared out between the members and is re-invested in the services provided. Its members come from all walks of life and each one holds a non-refundable £1 share in the organization. As at February 2009 there are just over 200 Shareholding Members including 2 ‘Corporate Members’ - High Bickington Parish Council and Devon County Council. No shareholder can hold more than one share and each share carries one vote. The Board of Directors carries day to day responsibility for the management of the organization and each Director is elected, usually for a three year term, by the Members at the Annual General Meeting.

The CPT holds the freehold and equity in land and property in trust for the community and is charged with making sure the land and property it controls continues to be used to meet housing, employment and community needs, on terms the community can afford. It derives income from the land it controls, usually from rents, which it uses either to repay loans taken out to build homes, workshops and community facilities, or to make provision for new amenities or meet identified needs. It will also, in the future, look to use its assets to meet the evolving needs of the community by undertaking new initiatives.

Background

In November 2000, a community-based group, Project 2000 was set up to identify the needs of the Parish and developed proposals for its regeneration over the next 20 years. High Bickington CPT Ltd has now been formed to assume responsibility for land, buildings and facilities which it is hoped will be developed at Little Bickington Farm where 20 acres (8.25 ha) of this former County Smallholding will be used to develop affordable and market sale housing, workspace, community facilities and woodland. A new primary school (closely integrated with the above development) will be the responsibility of the County Council. A Full Planning Permission for this development was granted by Torridge District Council in early 2009 and it is hoped that a start on site can be made in October 2009.

High Bickington CPT Ltd was registered under the Industrial & Provident Societies Act 1965, in July 2004, by the Financial Services Authority, and its Rules are based on the model Rules of the National Housing Federation and the organization has ‘Exempt Charitable Status’ granted by HM Revenue and Customs. This means that it is able to accept Gift Aided Donations and can reclaim the Income Tax paid by Donors. Its membership is open to any person or body connected with the Parish of High Bickington, through purchase of a £1 share. Devon County Council and High Bickington Parish Council are both shareholders.

The objects of the CPT include the provision of:

• houses for people in need, on terms appropriate to their means
• workspace to meet training and employment needs
• health facilities and child care
• facilities for recreation
• woodland and other environmental improvements

The CPT's affairs are managed by a Board of Directors.

The current Directors are: David Brown (Chairman), Tony Barstow, Ken Burford, Cliff Dean (Treasurer), Mike Leatham (Parish Council Nominee), Irene Matthews, Tony Powell and Gavin Wood.

Rules for the High Bickington CPT Ltd

Click here to download a copy of the Rules for the High Bickington CPT Ltd

The Company Secretary is David Venner, who can be contacted at The Meeting Point, North Road, High Bickington, Umberleigh, Devon, EX37 9BB.

Tel: 01769 560161 or by Email david.venner@high-bickington.co.uk