LATCH | Withdrawable Shares

157%

raised

Forecast
return

Investors

134

Hours left

Raised so far

£548,050

LATCH (Leeds Action To Create Homes) have a simple, but brilliant purpose. They take derelict homes and transform them into homes for people who need them, helping them get their lives back on track.

Match funded

Homes for all

Target

£350,000

Min raise

£250,000

Offer opened

08/10/2021

Closing date

31/08/2021

Match Funded

Win Win

This investment is match funded with an investment of £100,000 from Co-ops UK via the Community Shares Booster Programme, and £30,000 from the Peoples’ Postcode Lottery.

Where your money goes
Team
Documents
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LATCH
Leeds Action to Create Homes Limited
Society no. 27643R
Leeds, UK
Incorporation date: 16 July 1992

Your money will…

Improve the quality of life for people in desperate need of homes by offering them decent, affordable housing.
Regenerate communities by transforming derelict and empty properties into environmentally sustainable homes.
Help people create a positive new start in life through skills training and ongoing support to start living independently.
Earn a potential return. Investments in the share offer target an annual return of 4% and give you membership of the Community Benefit Society.

The bigger picture

LATCH is a Community Benefit Society based in the Chapeltown area of Leeds that is focused on improving people’s lives. LATCH has been creating homes and transforming lives in Leeds for over 30 years. Their successes include:

Transforming 92 empty derelict properties into quality homes with a low environmental impact.
Helping over 450 adults and children have a positive new start in the past ten years, including supporting over 200 tenants to move on to independent living.
Providing training and volunteering opportunities for 73 unemployed people, helping 21 unemployed people to gain formal skills.
Providing secure and supported homes for over 140 people in desperate need of housing each year, including families with young children.

Where your money goes

It’s your money so it follows that you want to know where it goes and what kind of impact you’re making. LATCH will use your investments to:

Fund the transformation of 6 empty properties, into 6 high quality and energy-efficient homes in Leeds.
Help another 6 adults and 3 children at any given time to find decent, affordable and supported homes.
Showcase LATCH’s successful model of housing regeneration for deprived communities for other areas of the UK to replicate.
Continue to support more people to improve their quality of life, through training and volunteering opportunities.

Team

LATCH is determined to build on this successful model and this share offer will help them fund the next phase of their work.
https://www.latch.org.uk/

Carol White

Committee Member

Carol is the Supported Housing Contracts Manager at Leeds Federated Housing Association and has worked with this registered provider in a number of roles for over 15 years. She oversees the support services provided by the provider from the providers stock and ensure contractual commitments are complied with and that service quality is maintained

David Clarke

Treasurer

David has over 35 year’s experience of supporting and helping a range of customers including, not for profit, social enterprises, PLCs and private family companies and operating in various sectors of the economy.

Dennis Bernard

Committee Member

Denis has been on the Latch management committee for over 20 years. He is a local businessman and currently manages an early years scheme providing pre and after school care and support to young people.

Keith Gibson

Director

Having retired 5 years ago from the position of Environmental Health Manager at Leeds City Council, Keith has continued his interest in supporting the homeless and local communities in Leeds. He has 40 years of experience working in local government, and being involved in area regeneration and private sector housing renewal, but also latterly managing teams dealing with food safety, health and safety, environmental sustainability and pollution control.

Manjeet Gahir

Committee Member

A Maintenance Surveyor currently working for a national housing provider covering the Central North Yorkshire region overseeing the associations reactive repairs and voids service for around 1100 properties. Manjeet has over 18 years of front line and management experience within the housing and construction industry and has worked for a number of local registered landlords. Manjeet was also employed by LATCH as the Property Services Manager between 2017 to 2019 and decided to keep helping and supporting the charity in order to give something back within the community in volunteering as a Board member.

Nic Crocker

Committee Member

Nic is a qualified solicitor, now retired who has extensive experience in business and commercial law.

Samia Hussain

Committee Member

Samia has extensive experience in working in human resources and as worked for Leeds City Council, Craven Council in this capacity. She was also manager of Penny Appeal Charity.

Steve Boyle

Board Chair

Steve is the Chair of the LATCH Board. He has been involved in Regeneration and Project Development throughout his career and has worked in Liverpool, Bradford and Manchester and most recently for Leeds City Council as Chief Regeneration Officer for Neighbourhood Regeneration, (he retired from this post in 2011). He has detailed knowledge of community regeneration, fundraising and project delivery and monitoring.

Sue Burgess

Director & Company Secretary

With a degree in Environment, Leisure and Heritage Management, Sue has had a varied professional career in business, economic development and regeneration across the public, voluntary and private sectors, also setting up her own small businesses in the wellbeing and hospitality sectors in the UK, Germany and the Canary Islands. Sue took early retirement from Leeds City Council where she was a senior level manager running a multimillion pound customer facing service to become a freelance consultant in April 2017. In January 2021 Sue joined LATCH as Business Development Manager, and was appointed to the role of Company Secretary.

Kat Donegan

Board Vice Chair

Business Development Specialist at Virgin Care, with remit to design and develop innovative, quality services across the healthcare sector. Varied 20 years’ experience in the not-for profit charitable 3rd sector, including business development for Shelter and operational management roles with housing associations, local authority and supported housing providers. Kat is also a mum of 2. Joined LATCH in 2006.

Maggie Gjessing

Director

Maggie is employed as Director of Regeneration for Home Group which is a large national housing association. She was formerly Head of Housing Growth at Leeds City Council and has approx. 30 years’ experience in housing and regeneration gained in the local authority and housing association sectors with a track record of delivering large capital programmes of new build, major repair and refurbishment programmes in addition to housing management experience. A Fellow of the Chartered Institute of Housing and an Associate Member of the Royal Institute of Chartered Surveyors, she currently has responsibilities which include the Group’s regeneration programme and the delivery of specialist and supported housing.

Stephen Oxley

Committee Member

Stephens currently works for Currie and Brown as the Director of Quantity Surveying, working across the North of England. Steve has worked as a QS and site manager on a ranger of public and commercial construction projects for a range of business throughout his career. He is experienced in ensuring projects are properly planned and efficiently delivered. He joined LATCH in January 2017.

Interest accrual and payment

Shares will start earning interest from 1st April 2022 with interest payments made on 31st March each year. The first interest payment is expected to be paid on 31st March 2023. Interest to be paid in the form of new shares, which will be added to your shareholding. For example, an investment of £1,000 would receive £40 in interest per annum added to the original investment amount, meaning the shareholding would increase to £1,040.

Getting your money out

LATCH aims to make up to 10% of total shares in issue available for withdrawal per annum from Year 3 onwards. Members will be notified each year how much capital will be available to withdraw, and, should they wish to make a withdrawal request, by when applications to do that must be received.

Applications will be honoured on a pro-rata basis (so if the society has £40,000 to withdraw, and receives applications to withdraw a total of £80,000, then every request will be paid out to 50% of the amount requested).

Investing on behalf of children

LATCH does not currently accept investment on behalf of children.

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Investments offered on the Ethex platform are not readily realisable, which means that they may be difficult to sell and you may get back less than you originally invested. Investments are not covered by the Financial Services Compensation Scheme (FSCS) and returns are not guaranteed. If you are in any doubt, you should contact an Independent Financial Adviser.