Frequently Asked Questions


2. Who are NACBS?

You can find out more in the ‘About Us’ section

2. Where can I find more information about Lochranza Country Inn?

Please head to lcilochranza.co.uk for information about the Lochranza Country Inn, including opening hours and menus.

 

3. What future projects do you have in mind?

At the NACBS General Meeting on 20th March 2023, four topics were discussed and suggested to NACBS members – provision of ferry service during the winter, community transport, affordable housing and the pontoon. NACBS will research and investigate these options and come back to members at the next meeting.

 

 

4. What is the long-term plan for LCI?

The Lochranza Country Inn belongs to the Community through the NACBS. All surplus profits made by the Inn are donated back to the NACBS for investment in this or other community projects. The long-term plan is for the community to retain the Inn as a social hub in perpetuity.

The LCI Board may submit shorter term ideas and plans for the Inn but these must be agreed by the NACBS and its members. Any that do not fit with the long-term goal of the NACBS would not be acceptable.

 

 

 

5. How can I help?

You can become a member. There are two levels of membership –

  • Community Member – Resident in one of the 7 post codes in the villages of Catacol, Pirnmill and Lochranza and registered on the electoral roll and pay the £1 per year membership fee. Community members can also buy Contributor Shares, with a minimum shareholding of one £25 share. Community membership of NACBS gives full rights to stand, nominate and elect Board Members and voting rights at NACBS meetings. The majority of the Board must be Community Members.
  • Contributor Member – Contributors who do not qualify as Community Members can become members by acquiring a minimum of ten £25 shares. Contributor members have similar rights to Community Members and can vote on most resolutions. However, Contributor membership can be no more than 25% of the total membership.

You can attend meetings and volunteer for committee/board positions. You can also visit the Lochranza Country Inn, your local community hub, and support the Inn!

 

 

 

7. Will NACBS be getting more grants?

Grants are used as a means of funding projects. The NACBS is continuously looking at funding sources to help meet the current and future projects of the NACBS.

 

8. Who are the LCI board?

The LCI board consists of:

Chairman/NACBS representative – Charlie Newton

Secretary – Gavin Pritchard

Director of Finance – Robin Finlayson (standing in until a suitable qualified volunteer can be found)

Director – Fiona Henderson

General manager – Craig Wood

All board members were elected at a NACBS General Meeting, except for the General Manager, who is an employee of LCI and therefore appointed by the rest of the board. Every year 1 of the Board (except the GM) members will stand down and the position filled through election.

 

9. Why do NACBS and LCI have separate boards, and what is their relationship?

NACBS is a registered charity and owns the Lochranza Country Inn. The Inn is operated by a professional team who are steered by the LCI Board. The separation of the two allows a degree of independence in the operation of the Inn and a protection to the NACBS and its assets should the LCI business fail.

The LCI Board is elected by NACBS members and is answerable to the NACBS for the performance of the LCI business.

10. Do you have minutes of your meetings that I can read?

Minutes of the latest meeting can be read here.

11. How do I buy shares?

You can do that here. You can download the share prospectus and either complete an application online or download the form and send it in.

 

12. What if there is an economic downturn, are your financial plans secure?

The NACBS focus, supported by over 50% of the community, is to preserve the property, to operate the Lochranza Country Inn as a social hub for the benefit of the community as a meeting and gathering place. With no mortgage to service, the society is better placed to survive than a conventional hotel operation.  The financial projections, based on pre-pandemic revenues and allowing for current market trends, predict a small surplus by the end of 2023, a flexible 5 year reinvestment plan and the ability to generate funds for NACBS to invest in other community projects, like affordable housing, from 2025 onward.

13. Can the Lochranza Country Inn go bust?

Perish the thought, like any business the risk of failure, or total loss through fire or flood, is always there. In the event of total loss, a claim would be made to the insurers to rebuild.  Should LCI go bust there would be limited impact on NACBS except the extent to which there are outstanding loans due by LCI.  NACBS will still own the building which should be debt free and will hold the benefit for the community as a whole.

The Contributor Shareholders will be entitled to repayment of their investment at a time that NACBS has sufficient funds to do so and the shareholder has requested repayment. All the shareholders of NACBS (at least 75% of which will be community members) will then be asked to vote on what happens next.

14. I heard NACBS was awarded grant money. What is it being spent on?

NACBS has been awarded two grants. The first, awarded by the Scottish Land Fund, allowed for the purchase of the hotel. The second, given by the Levelling-up department Community Ownership Fund, is for the refurbishment of the hotel, and revenue costs associated with starting and running the business. The refurbishment has focused on carrying out necessary redecoration, completing repairs and essential maintenance and renovating the staff accommodation on the second floor.

15. Who are the NACBS board?

The NACBS board consists of:

Chairman – Chris Traill

Secretary – Robert Cumming

Director of Operations – Duncan Craig

Director of Finance – Robin Finlayson

 

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