Donate to Support the Portland Works Renovation

Donations are important to us. Without them we would never have been able to buy the building in the first place and now, as the hard work kicks in, we are renovating and managing the building as a social enterprise. Most renovation work is done by volunteers, so your cash goes a long way.

To benefit from Gift Aid, we ask you to donate online to our supporting charity “Friends of Portland Works” who directly support specific renovation and education projects.

The Friends are registered with the Charity Commission (CIO No. 116064) and have six trustees, who have all been involved with Portland Works for some time. They also work to attract donations from commercial companies and charitable organisations so please contact them if you can help.

To donate via the Friends, please click below. The process is very straightforward via our Wonderful.org page.

Where Your Money Goes

The Friends of Portland Works are extremely grateful for the support of the Sheffield Rotary Clubs, JG Graves Trust, Freshgate Foundation, Sheffield Town Trust, Sheffield Church Burgesses Trust, Foyle Foundation and Aslackby Trust.

Here are some of the projects funded by them and our individual supporters:

Bank Donations

Donating to Portland Works Little Sheffield Ltd does not allow us to also collect the Gift Aid bonus, but is still greatly appreciated. There are two methods to do this but in either case, please don’t forget to tell us about your bank transfer.

Email us at manager@portlandworks.co.uk with your details and the amount you sent.

Bank Transfers

For bank transfers, our account details are:

Bank: Unity Trust Bank, 9 Brindley Place, Birmingham B1 2HB
Account: “Portland Works Little Sheffield Ltd”
A/C Number: 20322331
Sort Code: 60-83-01

Cheques

Please make cheques payable to “Portland Works Little Sheffield Ltd” and post them to:

The Manager
Portland Works LS Ltd
Portland Works
Randall Street
Sheffield S2 4SJ

Buy Shares in Portland Works

You can still become a shareholder of Portland Works. Share applications of up to £1000 are being taken. Over 500 individual shareholders have raised over £300,000 in community shares so far.  You become a co-owner and voting member of our community.

Our aim is to renovate and manage Portland Works as a social enterprise. Currently we are funding the renovation works ourselves, using volunteer labour to make our cash go furthest. Becoming a shareholder gives you ownership and involvement, and helps us with the renovation.

Shares have a fixed value of £1. The minimum holding is 100 shares, the maximum is 100,000 for any individual. Although we aim ultimately to pay interest on share capital, this will not exceed inflation and will not happen anyway for some years. Your investment is social rather than financial. Each shareholder has one vote at general meetings regardless of shareholding.

If you wish to buy shares you should read the Share Offer document. Then download and print the application form, complete it and post it to us with your cheque. The address is on the form. We are also required by the FCA to offer you the Rules of the Society.

Existing Shareholders and planning for your future

Shareholders, please consider your wills and take a moment to confirm how would you like your shares to be dealt with in the event of your death. Sadly a few of our shareholders have died and knowing what they wanted to happen to their shares has been a considerable help.

You don’t need to alter your will to do this – you can simply complete a codicil form to keep with your will. The form can be downloaded below and please note that, as with all will-related matters, individuals should consult their solicitors before completing.

As a shareholder, you have three options:

  1. Surrender some or all of the shares back to the Society. This means the shares are cancelled and the original “investment” will effectively become a donation to the Society – which might be what you intended when you originally bought the shares.
  2. Transfer some or all of the community shares to another person. This option is available only on your death, not in your lifetime. It allows the beneficiary to maintain a continuing social investment in the Society and help to continue its work.
  3. Withdraw some or all of the shares. The directors can declined requests to withdraw, but have been accepting withdrawal requests following the death of a member. The amount currently payable on withdrawal is a maximum of £1 per share, although it can be reduced below this amount in circumstances allowed by the Rules.

Finally, you may consider surrendering your shares now. If you do this we’d leave you with one nominal zero-interest voting share.  Contact us directly if you wish to do this, many people with smaller holdings (e.g. £100-£200) have done this already.

Please let us know you what your wishes are – it helps our financial planning.

Further Reading

Our Annual report is well worth a read, and our Business Plan is available on request. Each will give you more detail on the project and its financial basis. Also, if you have never invested in a community share issue before, we recommend that you read the guidance document entitled:‘What are Community Shares’, which was compiled by Co-operatives UK and the Development Trusts Association, now called Locality.

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