Why are you inviting people to buy community shares?  

Bovey Paradiso Arts is, at heart, for the community of Bovey Tracey and surrounding areas. The building, resources and facilities will be for the community to use and enjoy, but we also really want the community to shape it and share in decision-making in order to increase engagement and create a thriving arts centre for all.

We need your investment to strengthen Bovey Paradiso Arts so that it can thrive as a community venue, café/restaurant, and cinema/theatre and deliver community outreach benefits. We need your investment to finish the last phase of building work and aim to fully open our doors to the public next year.

How do shareholders get involved with the organisation? 

Individuals who buy shares will become Members of the Society – Bovey Tracey Paradiso Arts Ltd. They are invited to formal meetings of the Society, principally the Annual Members Meeting or any Special meetings which are called by either the Management Committee or members. Shareholders can vote on decisions at those meetings. Shareholders can approach the board at any time for information and offer comments and feedback to inform the decision-making of the Management Committee and management. Importantly, Bovey Paradiso Arts is owned by its Members - we can all take pride in its successes!

What is the difference between a member and a shareholder?

In this instance Members and shareholders are the same thing. Our Members own Bovey Paradiso, as they are all shareholders.

Why become a shareholder, what are the benefits to me?

As a valued shareholder your votes and views will shape the future of Bovey Paradiso. You will also have the opportunity to become a member of the Management Committee and/or volunteer. You will receive preview and priority bookings – a first reveal of upcoming events and the opportunity to secure your seat, invitations to shareholder events, and if you are a business we can include you in thanks in our email communications and social media.

How do I buy shares?  

The share offer will open on 2nd June 2025. An application form to buy shares is available, along with full information about the share offer on our website. Please click this link: Community Share offer ,then simply click on the link to the form, and complete the form. 

You can also find out more information and apply using a paper form by visiting us at Bovey Tracey Paradiso Arts Limited, 83 Fore Street, Bovey Tracey, Devon, TQ13 9AB.

Will I receive interest on my shares? 

The primary return for holding shares is a social one. Our Rules allow that the management committee may decide that interest can be paid on your shares if it is financially sustainable and in the interests of the venture. We do not anticipate paying interest in the foreseeable future but will review this policy each year and share our thinking with you at the AGM.

When do I pay for my shares?  

Payment is to be made when you make your application either online, in person or by post.   

What happens when my application is accepted?  

At the end of our application period your share purchase will be entered into the Society’s Membership Register and you will be sent a Share Certificate.

What happens if my application is refused?  

In the very unlikely event that your share offer application is refused you will be notified, and your payment refunded.

Can I get my money back?  

Community shares can be withdrawn but you will be unable to withdraw your shares in the first 3 years following the end of this share offer. After that, you can apply to withdraw some, or all, of your capital, subject to consent and the Management Committee’s financial ability to pay you out. 

Please note: Withdrawable share capital is fully at risk. Members could lose some, or all, of the money they invest. The management committee may suspend/deny withdrawals if it is financially prudent to do so, depending on the long-term interests of the Society and the need to maintain adequate reserves.

What is my liability if I invest?  

Bovey Paradiso Arts Ltd is a charitable Community Benefit Society. This means that your liability does not exceed the value of the shares you purchase. That is, at the very worst you could lose your investment. 

Do I get tax relief on my shares, are you EIS registered?

We are applying for EIS (Enterprise Investment Scheme), which offers tax relief to investors. We have been granted SITR for the previous share offer, which is no longer available from HMRC. We will know the outcome regarding EIS before your share certificates are produced in August.

Can I buy shares on behalf of my young children or grandchildren? 

Yes, please fill in the fields in the application form on their behalf. They will not be full Members and will not be able to vote in our AGM until they are 16 years of age. Your details will be required for the payment process. If purchasing for more than one child, please submit a separate form for each application.

Can I give shares as a gift? 

Yes, you can purchase shares on behalf of someone else as a gift. Please complete the form with your details at this stage. Once the share offer closes and applications are accepted, you will need to provide us with the gift recipient's details to enter onto the Share Certificate and Society's Membership Register. If purchasing as multiple gifts, please submit a separate form for each application.

Can I transfer or sell my shares to someone else?  

Shares cannot be transferred, except on death or bankruptcy and they cannot be sold to others. 

Can I leave my shares to someone when I die?  

Yes, you can either gift your shares to Bovey Paradiso Arts or you can nominate individual/s to receive your shares when you die. The relevant legislation allows any amount of shares up to a maximum of £5,000 to be transferred to the nominated beneficiary without the shares going through probate.

What is the basis for your financial forecasts? 

Our financial forecasts are as set out in our recently updated Business Plan, a copy of which you can read here. The Plan has been professionally produced and draws from the experience of your Directors and from extensive research and information obtained from other comparable Devon Community Arts Centres.

This is a time-bound investment offer. What happens if you don’t meet your target? 

If we don’t reach our target we are obliged to pay funds back. However, we would first invite you to continue with your investment and remain a shareholder, as all financial support is invaluable to our community project at this time.

Where can I read more about your share offer?

Follow this link to read our Share Offer Prospectus. You can also find key details, a link to our business plan, application form, Society Rules and payment information on this page of our website.

I don’t want to buy shares; are there other ways I can help?  

Of course, we welcome donations so if you don’t want to be a Member and prefer to donate rather than buy shares please come and see us or contact us by email at admin@paradiso.org.uk. Please note, donations do not result in Membership and do not give voting rights.

Alternatively, you might like to join us as a volunteer and have a role in the running of our events. You could also help us spread the word. Please tell your friends about us and our call for Membership.

And, of course, please come and visit us when we’re fully open - enjoy an exhibition, a concert, film or meal. In the meantime, call in at the gallery and do support our programme of events - film showings, music nights, talks and so on, we look forward to seeing you.

We need your support! get in touch here