A Community Interest Company
Eastbourne Borough Football Club has built an impressive reputation as a community club and has been recognised as such by the receipt of several awards over recent times.
On the 1st October 2008 those links with the community were further cemented with the announcement that EBFC has become a registered limited company with a difference, Eastbourne Borough Football Club C.I.C. What’s more EBFC CIC is officially the first football club to gain CIC status, recognising the work and achievements of the club and Langney Sports Club within the community.
In simple terms a Community Interest Company is a limited company but with special additional features created for the use of people who want to conduct a business for the benefit of the community and not purely for private advantage. This is achieved by a “community interest test’ and “asset lock’ which ensure that the CIC is established for community purposes and the assets and profits are dedicated to these purposes.
To protect the community interest Acorns Charitable Trust (registered charity 1090804) will be the “asset lock’ and at all times own more than 50% of the issued share capital. This means that supporters, the general public and businesses are able to invest by purchasing Ordinary Shares in a local CIC with community involvement at the heart of its aims.
The Priory Lane site hosts much more than Conference Football and Langney Sports Club, including Archery, an impressive Indoor Bowls Hall, weekly Tai Chi sessions, twice a week Afternoon Club for the retired, a Study Centre, Owlets Nursery providing quality pre-school education. In addition to the first team, the club can boast a very active youth section providing football for over 400 boys and girls up to the age of 18 and a ladies team
Five years in succession Eastbourne Borough Football Club has won the Sussex County F.A. Community Club of the Year (2004-2008) and the F.A. South East Regional Charter Standard Club Award Winner 2006 and 2008. EBFC were the first ever winners of the Corporate Social Responsibility Award (2004) at the Eastbourne Business Awards, given for businesses that put something back into the community they operate in.
When was Eastbourne Borough Football Club C.I.C.(EBFC CIC) incorporated
Incorporated under the Companies Act 1985 as a private limited company on
28 July 2008.
When did EBFC CIC start trading?
The Company started trading on 1 September 2008. On 1 October 2008 it took over the activities, responsibilities, staff, assets and liabilities of the existing Eastbourne Borough Football Club, including Langney Sports Club and Langney Sports Indoor Bowls Club.
When is the Company’s year-end?
The year-end is 31 May.
Who are the Company’s largest shareholders?
To comply with the CIC regulations the major shareholder Acorn Charity Trust will at all times hold more than 50% of the shares.
Who are the Directors of the Company?
On incorporation the directors were: Leonard Smith (Chairman), Stephen Carter, Michael Grimer and Michael Spooner. The Board of Directors will be subject to change at the first Annual General Meeting in 2009 and subsequent Annual General Meetings.
What will the proceeds of share sales be used for?
All proceeds will be used to improve buldings and facilities at the Club’s Priory Lane site.
What is the Company’s on-going strategy?
To continue to strive for success in the Football Pyramid.
To maintain and develop our community activities.
To continue the development and growth of the Indoor Bowls Club.
To support the continued development of other sports and
How many employees do you have?
At 1 November 2008 there were (including part-time) 32.
How do I purchase shares in Eastbourne Borough?
Contact the Company Secretary, address below, for application form or download the form below.
(More information on the above is available from: The Company Secretary, Eastbourne Borough FC C.I.C, Langney Sports Club, Priory Lane, Eastbourne, East Sussex, BN23 7QH)
Eastbourne Borough Football Club C.I.C. is not authorised and regulated by the Financial Services Authority (FSA). The information in the above statement does not constitute an offer for the sale of shares. The directors of Eastbourne Borough Football Club C.I.C. have taken care to ensure that the information is accurate to the best of their knowledge. Any potential investor should take advice from an advisor who is authorised and regulated by the FSA.
Further information re: Community Interest Companies can be obtained from the regulators website.