Our Governance: Fair Share

Community Benefit Society

Ikigai Farm Ltd is a Community Benefit Society, registered with the Financial Conduct Authority.

Society: Ikigai Farm Limited

Registration number: 8304

Registered office address: Saxons, Hopton Road, Thelnetham, Suffolk IP22 1JN

iFarm is a community-based business, registered as a Community Benefit Society (CBS), under the Cooperative and Community Benefit Societies Act 2014.

You can view our registration with the Financial Conduct Authority (FCA) here.

The Society is a limited liability Community Benefit Society registered with the Financial Conduct Authority (FCA) using a set of pre-approved model rules developed by The Plunkett Foundation (a charity that has been helping communities to set up and run community-owned enterprises since 1919).

Our rules include a statutory Asset Lock which ensures that should the Society achieve a surplus beyond that required to meet its liabilities, improve the facilities, and ensure the future of the business, this surplus may be made available for distribution to other communities, or charitable projects, that meet the Society’s purpose.

A copy of the Rules of the Society can be seen here or can be requested from a member of the Management Committee.

The Society is a democratic organisation that operates on the principle of one member one vote

regardless of the amount each member has invested. Everyone who invests and is accepted by the management committee becomes a member of the Society.

Membership is open to any person (whether an individual, a corporate body or the nominee of an unincorporated organisation) who completes an application for membership in the form required by the Management Committee and:

• is over 16 years of age;
• supports the Society’s Purpose;
• pays for the minimum number of shares required by the Rules;
• agrees to pay an annual subscription (if there is one); and
• whose application is accepted by the Management Committee.

The Management Committee may refuse any application for membership at its absolute discretion.