THE MARSH COMMUNITY CENTRE CHARITABLE COMPANY Annual Report Year ending 31 March 2021
Director’s Report for the purposes of the Companies Act 2011 and Trustees’ Annual Report for the purposes of Part VI of the Charities Act 1993 for the year ended 31 March 2020.
The trustees present their annual report on the affairs of the company, together with the accounts for the year ended 31 March 2020, together with the Independent Examiner’s Report thereon.
Registered Charity: 1085116 Company Registration Number: 04156154
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CONTENTS
| Page | ||
|---|---|---|
| • | Structure, Governance and Management | p. 3 |
| • | Report of the Chair of Trustees | p. 5 |
| • | Objectives, Activities and Achievements | p. 6 |
| • | Report of the Treasurer | p. 7 |
| • | Financial statements for the year ended 31 March 2020 | p. 9 |
| ● Independent Examiner’s Report to the Trustees |
p.10 | |
| ●Statement of Financial Activities | p.11 | |
| ●Balance Sheet |
p.12 | |
| ●Accounting policies | p.13 | |
| ●Notes to the accounts | p.14 |
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STRUCTURE, GOVERNANCE AND MANAGEMENT
Name
The full name of the charity is The Marsh Community Centre Charitable Trust.
Constitution and governing legislation
The charity is established as a company limited by guarantee, without share capital, under the Companies Act 1985. Its operation is governed by its Memorandum and Articles of Association dated 8[t] February 2001 and amended 25 February 2003. The company number is 04156154. The company is a registered charity (no. 1085116).
Trustees and directors
The persons who served on the Board of Trustees and were directors of the company during the year were:
Jon Barry (Trustee and Chair) (Marsh Resident)
Karin Olsson (Trustee and Secretary) (Marsh Resident)
Ken Peasnell (Trustee and Treasurer)
Sally Pidd (Trustee)
Michael Farnfield (Trustee)
Appointment of trustees
The appointment of trustees is g overned by provisions contained within the company’s Articles of Association. These are as follows:
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The board of trustees shall consist of a maximum of twenty trustees, made up of fifteen nominated and five co-opted trustees.
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Each appointment shall be made at an Annual General Meeting and each year one third of the trustees shall retire by rotation.
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Nominated trustees are elected for a term of not more than three years subject to the ability to be re-appointed or co-opted. The above trustees must live in, work in, or represent the area of benefit.
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Co-opted trustees are elected for a term of not more than two years subject to the ability to be re-appointed or co-opted and are nominated by the trustees.
Trustees’ responsibilities
Company and charity law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state-of-affairs of the charitable company as at the end of the financial year and of the surplus or deficit of the charitable company for that year. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with all relevant legislation. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Registered office
The registered office of the company is Marsh Community Centre, Willow Lane, Lancaster, LA1 5PP.
Secretary
The Company Secretary is Karin Olsson.
Treasurer
The Treasurer is Ken Peasnell
Bankers
The company’s bankers during the year ended 31 March 202 1 were the Cumberland Building Society, 26-28 Cheapside, Lancaster LA1 1LZ.
Accountants
The company’s finances are managed in -house by the Chief Executive supported by the Secretary and Treasurer. Our payroll and Independent Examination is conducted by Lancaster & District CVS, Sulyard St, Lancaster LA1 1PX.
Specific restrictions on the company
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Clause 5 of the Memorandum of Association of the company stipulates that the income and property of the company shall be solely towards the promotion of its objects and no part is to be paid by way of dividend, bonus or otherwise to the members of the company. Additionally, no trustee appointed to any office of the company is to be paid a salary or fees or receive any remuneration or other benefit from the company.
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Clause 8 of the Memorandum of Association states that upon the winding up or dissolution of the company any assets remaining, after the satisfaction of all liabilities, shall not be paid to or distributed among the members of the company, but shall be transferred to other charitable institutions having similar objects and which similarly prohibit the distribution of income or property among its members.
Full details of all the restrictions imposed on the company and the framework within which the company operates are contained in the Memorandum of Association.
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Investment powers
The company is permitted by its Memorandum of Association to invest any funds not immediately required for its purposes in any investments, securities or property as may be thought fit subject to such conditions and consents as may for the time being be imposed or required by law. In exercising these powers, the trustees have had regard to the Charity Commission’s guidance on public benefit.
Management and financial oversight
The centre’s manager, Deborah Hargreaves, is responsible for the centre’s operations. On the financial side, she is assisted by the treasurer and the secretary. The board of trustees meet at least once a month, with the centre manager in attendance, to monitor activities and to make policy decisions.
REPORT OF THE CHAIR OF TRUSTEES
During the Covid Pandemic we continued to help the most vulnerable people in our community. Our centre manager was furloughed only for the month of November 2020. Our assistant manager also worked much of the time, as did our youth workers and volunteers, when Covid levels allowed.
A key and distinctive function of the centre is the amount and quality of advice our managers – give local people in the community on a whole range of issues such as benefits, legal matters, food poverty and housing. Although Open Access could not be run, Deborah worked from home and was able to assist people with open access advice still during the pandemic through social media, telephone, internet.
The following quotes are from our manager. These give a flavour of the activities of the centre during this period.
“ We helped them access the correct benefits, food banks, clubs and anything else they were entitled to. We kept our young people engaged as much as possible in activities online or outdoors. ”
“ We also ensured that our residents and members had the help they needed during the pandemic. These were things such as prescriptions, shopping, telephone conversations or whatever was needed. ”
“ All ages benefited from the services we provided such as families, young people, adults, disabled. The continued support we gave the community was beneficial to our service users - mentally, physically and financially. We saw the rise in benefit claims from people who have never claimed before, a rise in food bank referrals, also a rise in mental health. We wanted to help minimise these issues.”
Delivering Christmas presents 2020
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“ We gave out food/toiletry parcels to those in need, and activity packs to young people. We continued to run groups for our members online by introducing Zoom meetings. This was a difficult job as most did not know how to use their devices so we had to provide them with some simple training so they could access the zooms. These virtual meetings ensured that we could provide residents with some activities to keep them involved with their friends and ensure they didn't feel isolated and forgotten. ”
We have fostered many new links with the local community this year. These include the Priory – and Hope churches both have given us tremendous financial support in helping our and their own activities on the Marsh and our thanks go to them. Another one worthy of mention is Marsh United who donated Christmas presents to the children.
Much work has been done (and continues to be done) on improving the quality of the physical resources we use to serve the community. For example, we used part of our reserves and money from a grant from the Galbraith Trust to replace our ageing suite of computers. We also created a new storage facility in our grounds, funding with money donated by The Priory Church.
Working with our consultant, Alan Chapman, one of our trustees was able to update and refresh our constitution. Similarly, other trustees have worked on sorting out our financial and funding arrangements and with supporting staff.
Many thanks to all our staff, volunteers, funders and trustees. It is only through your efforts that the Marsh Community Centre continues to thrive.
OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS
Established in 2001 as the Marsh Community Centre Charitable Company, the central objective of our work is to address the needs of local people particularly children and young people living in this deprived ward of Lancaster. Unfortunately, the levels of deprivation have only increased since the centre was formed. We have sought better ways to support adults struggling with poverty, mental health issues and stress. With funding and partnership, we try to provide support for hard-to-reach and vulnerable children and young people. We aspire to achieve the following four objectives:
1. ACTIVITIES
To provide and facilitate activities, advice, information, advocacy and support that improve the quality of life of local people and promote the wellbeing of the community.
2. BUILDING
To run an accessible and safe building that enables us to make a difference.
3. COMMUNITY
To engage and consult the local community so that we are responsive to its needs and aspirations.
4. ORGANISATION
To ensure that we are well managed and governed and effective in all that we do.
Activities during the year
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Our goal has been to continue to help those people of The Marsh area continuously throughout the year. Our records show that we helped around 500 people per calendar month. We pursued these objectives in the following ways:
By providing Open Access help delivered over the telephone, internet, this was well-used, and we know that it made a big difference to many people’s lives. Universal Credit), employment, training, housing and food bank referrals.
By supporting a “ Brew, cake and make ” and “ Coffee and cake group ”. These were run via Zoom and were very popular activities that are mainly attended by older people. These sessions are run by volunteers and are invaluable in bringing together people in the area. We fully intend to continue with these sessions.
By organising a choir, Marsh Music, that has been running since 2017. It has been open to all local people - men and women, old and young, and of all abilities. There are currently 15 members. It is a very popular activity, run by volunteers. Nationally, choirs have suffered badly during the pandemic, but we managed to keep ours going via Zoom throughout the pandemic.
By providing a food club for which participants pay £4. For this they got refreshments and food they could then take away a shopping bag of food. Food club thus provides both social activity and food for local people in need. Food comes from local supermarkets that would otherwise have been thrown away. Run from outdoors during the pandemic. 45 families attend per week.
Face-to-face youth work had to cease, but we kept in touch with the young people via social media and gave out activity packs to keep them involved with their friends and staff.
At a time when the building had to be shut to safeguard public health, the challenge for us during the coronavirus lockdown has been to develop ways of fulfilling as best we can the centre’s core objectives in very trying circumstances. What pleases us most is that we still managed to run core services in providing advice and guidance to Marsh residents, albeit remotely during the lockdown while the centre manager was working from home. This included setting up a buddy system to help the most vulnerable.
REPORT OF THE TREASURER
Income and expenditure
Detailed information concerning our charitable spending during the year and the income that made this possible is provided in the financial statements which follow. The key features can be summarised as follows.
Our total spending during the year amounted to £98,014 of which £11,113 of this spending was on much- needed improvements to the centre’s physical assets, work that is ongoing. Excluding these capital items, the operating expenditures amounted to £86,901, an increase of 0.8% over the previous year. The largest item consisted of the wages and salaries of our staff without whom nothing would be possible. This amounted to £57,151, a decrease of 1% over 2019-20. However, when account is taken of the furloughing of staff for which we received £4,966 from the government, our net expenditure on salaries was £52,185, a fall of 9% over the previous year, a consequence of our having to physically shut the centre during the Covid19 crisis, although as has been explained above, we managed to provide important services for Marsh residents in a socially-distanced manner. Activities directly in pursuit of our objectives were £5,201, a decline of 36% over 2019-20, a direct consequence of our being unable to do
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many of the things we normally do, such as organise trips for young people. One thing we were able to do was organise an appeal for donations to help people badly affected by a large fire that broke out in the Marsh during the year. We made grants to affected families totalling £4,986, funded largely by £4,456, the shortfall being met out of our reserves. Apart from our expenditures on salaries, activity costs and the fire appeal grants, we spent £18,663 on overhead costs of running the charity itself, which was 9% lower than the previous year.
Funding available to us to support these activities totalled £130,468, an increase of 25% over 2019-20, and came from three sources: grants from external funding agencies (£107,867), donations from individuals and organisations (£11,644), furlough grants (£4,966), and income we generate ourselves (£5,991). Without such grants and donations, we could not function. We are particularly indebted this year to the Tudor Trust, the National Lottery ’s Covid -19 response fund, Lancaster City Council, Awards for All, and Francis C Scott Trust for covering the cost of different parts of our payroll bill; and to Garfield Weston, Lancaster City Council and the National Lottery for covering many of our non-wage running costs.
The donations we received came from a variety of sources, both large and small, some for specific purposes and others to help us cover general running costs and our activities. Many take the form of regular small donations and others one-off larger amounts. Whatever the amount or frequency they are extremely valuable because they help us build up our reserves in ways that grants do not and cannot and thus help buffer us from shocks to the funding regime.
Reserves policy
Our objective is to maintain a level of free reserves (those not tied up in fixed assets and designated and restr icted funds) at a level sufficient to fulfil the Company’s continuing obligations. This is always a struggle because of our heavy reliance on grants as our principal source of income. Our unrestricted funds increased by £9,222 during the year, which is a great relief as we have struggled in past years to conserve this vital reserve, a key objective of the Company if we are to ensure our continuing solvency.
At 31 March 2021 our unrestricted reserves stood at £47,663, which equates to about 6.6 months of our current level of non-capital spending. This is, of course, an extreme worse-case scenario in which all grant income has been consumed and no income of any kind is being received. In fact, we had cash in the bank at the year-end equal to about 11 months of current spending.
Statutory compliance
The trustees’ and directors’ report and the attached accounts comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice 2015 – Accounting and Reporting by Charities.
The above report has been prepared in accordance with the Companies Act 2011 relating to small companies and was approved by the board on 29 September 2021 and signed on its behalf by:
Jon Barry
Chair of Trustees Page 8
The Marsh Community Centre Charitable Company
Registered Company No. 04156154 Registered Charity No. 1085116
Financial statements
Year ending 31 March 2021
Independent examiner's report to the trustees of
Marsh Community Centre
Charity No. 1085116
I report on the accounts for the year 1st April 2020 – 31[st] March 2021
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Shweta Pankhadiwala
C/o Lancaster District CVS, The Cornerstone Sulyard Street Lancaster LA1 1PX 28[th] September 2021
The Marsh Community Centre Charitable Company
STATEMENT OF FINANCIAL ACTIVITIES
Year ended 31 March 2021
| Note Income from: Donations and legacies 1 Grants 1 Other Income 2 Total Expenditure on: Charitable activities 3 Depreciation Total Net income before revaluation gains (losses) Fixed asset purchases and revaluation gains Net income/(expenditure) before transfers 4,5 Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward |
Unrestricted Funds £ 5,521 - 10,956 16,477 6,886 - 6,886 9,591 - 9,591 (369) 9,222 38,441 47,663 |
Restricted Funds £ 6,123 107,867 - 113,991 91,118 - 91,118 22,872 - 22,872 369 23,241 19,744 42,985 |
Fixed Assets Fund £ - - - - - 6,140 6,140 (6,140) 11,113 4,973 - 4,973 230,506 235,479 |
Total Funds 2021 £ 11,644 107,867 10,956 130,468 98,004 6,140 104,144 26,324 11,113 37,436 - 37,436 288,691 326,127 |
Total Funds 2020 £ 10,655 86,953 6,359 |
|---|---|---|---|---|---|
| 103,967 | |||||
| 86,199 6,140 |
|||||
| 92,339 | |||||
| 11,628 3,874 15,502 - |
|||||
| 15,502 273,189 |
|||||
| 288,691 |
The notes that follow form part of these financial statements.
The Marsh Community Centre Charitable Company
BALANCE SHEET
As at 31 March 2021
| Note Fixed Assets Tangible fixed assets 6 Current Assets Debtors Cash at bank and in hand Total current assets Current Liabilities Creditors and prepaid income Grants received in advance 7 Net Current Assets Net Assets Funds: Unrestricted funds Restricted funds 8 Fixed Assets fund |
2021 £ 235,479 0 92,668 92,669 2,021 - 90,648 326,126 47,663 42,985 235,479 326,127 |
2020 £ 230,506 |
|---|---|---|
| 2,035 66,503 |
||
| 68,538 | ||
| 438 9,916 |
||
| 58,184 | ||
| 288,690 | ||
| 38,441 19,744 230,506 |
||
| 288,691 |
For the year ending 31 March 2021 the Company was entitled to exemption from audit under section 477 of the Act 2006 relating to small companies.
The members have not required an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of trustees
Jon Barry
Ken Peasnell Date: 29 September 2021
The notes on the following pages form part of these financial statements.
The Marsh Community Centre Charitable Company
NOTES TO THE ACCOUNTS Year ended 31 March 2021
Accounting Policies
Basis of accounting
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities (effective January 2019) the Companies Act 2011.
Income
Grants, including grants for the purchase of fixed assets, are included in income in the year to which the grant Where a grant is received but cannot be spent until later years(s) it is carried forward as prepaid income.
Collections, donations and legacies are included when receivable by the charity.
No income is shown net of expenditure.
Expenditures
Resources expended are included in the Statement of Financial Activities on an accruals basis.
Tangible fixed assets and depreciation
All capital expenditure, including that which is funded by grants, is treated as an addition to fixed assets.
Depreciation is provided on all tangible fixed assts at rates calculated to write off the costs less estimated residual va of each asset over its expected useful life as follws:
Property 2% p.a. straight line Fixtures and equipmment Computer equipment 33% p.a. straight line
Capital expenditure funded by specific grants
The associated grant is transferred to a restricted fund fixed asset account against which depreciation is charged o the expected useful life of the relevant assets.
Taxation
The company is a registered charity and as such is entitled to the exemption from tax to the extent that the income received falls within section 505 C.G.T.A. 1992 and is applied to charitable purposes only.
Fund accounting
Unrestricted fund - this is the fund which can be used in accordance with the charitable objectives at the discretion of the trustees.
Fixed asset fund- this the fund which represents fixed assets purchased from unrestricted and unspecific restricted grants and fund the future depreciation of those assets.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objectives of th charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted [urposes.
The Marsh Community Centre Charitable Company
NOTES TO THE ACCOUNTS Year ended 31 March 2021
| 1 Grants and donations received Tudor Trust National Lottery Covid-19 response Lancaster Police Fund Francis C Scott Trust Galbraith Grantscape Garfield Weston Foundation Areti Charitable Trust NHS Community Foundation Coop Local Community Fund CVS Lancaster Covid-19 relief Lancashire County Council Priory Church Lancaster Marsh Community Centre Fire Appeal Other donations 2 Other income Covid-19 salary furlough income Food club Gift aid etc 3 Expenditure on charitable activities Wages and salaries (net of furlough) Cleaning, printing, stationary and sundries Repairs and renewals Heat, light and water Telephone, internet and computing Insurance and legal costs Activity expenses Fire appeal grants to Marsh residents Membership, training and travel Audit, accountancy and payroll Bank charges Purchase of fixed assets 4 Management and administration of the charity Accountancy fees Net income is stated after charging the following Depreciation of tangible fixed assets Lancaster City Council Awards for All |
Unrestricted funds 2021 £ - - - - - - - - - - - - 1,050 - 4,471 5,521 Unrestricted funds 2021 £ 4,966 2,127 3,864 10,956 Unrestricted funds 2021 £ 5,367 5 28 - - - 1,326 - 160 - - - 6,886 |
Restricted funds 2021 £ 27,000 22,419 24,803 11,000 9,916 - - 1,951 - - 5,000 1,083 2,145 2,550 - 1,667 4,456 - 113,991 Restricted funds 2021 £ - - - - Restricted funds 2021 £ 51,785 1,153 8,861 3,939 1,642 2,228 3,875 4,986 754 648 134 11,113 91,118 |
Total funds 2021 £ 27,000 22,419 24,803 11,000 9,916 - - 1,951 - - 5,000 1,083 2,145 2,550 - 2,717 4,456 4,471 119,511 Total funds 2021 £ 4,966 2,127 3,864 10,956 Total funds 2021 £ 57,151 1,158 8,889 3,939 1,642 2,228 5,201 4,986 914 648 134 11,113 98,004 2021 £ 6,140 648 |
Total funds 2020 £ 25,000 0 14,000 - - 13,700 2,000 5,853 22,000 4,000 - - - - 400 - - - |
|---|---|---|---|---|
| 86,953 | ||||
| Total funds 2020 £ - 3,354 3,005 |
||||
| 6,359 | ||||
| Total funds 2020 £ 57,497 1,058 7,855 3,682 5,073 1,583 8,171 - 681 600 - - |
||||
| 86,200 | ||||
| 2020 £ 6140 600 |
The Marsh Community Centre Charitable Company
NOTES TO THE ACCOUNTS Year ended 31 March 2021
| Unrestricted Restricted funds funds 2021 2021 5 Staff Costs £ £ Wages costs 5,367 51,785 Redundancy costs - - 5,367 51,785 The average number of employees during the year was as follows: Chief Executive, Centre Manager, 3 Community and Youth Workers, and 1 Cleaner. No employee earned more tha £50,000 in the year. Leasehold Computer property equipment 6 Tangible fixed assets £ £ Cost At 1 April 2020 334,387 3,874 Additions 7,151 808 Disposals - - At 31 March 2021 341,538 4,682 Depreciation At 1 April 2020 106,464 1,291 Charge for the year 4,849 1,291 Disposals - - At 31 March 2021 111,313 2,582 Net Book value At 31 March 2021 230,225 2,100 at 31 March 2020 227,923 2,583 Unrestricted Restricted funds funds 2021 2021 £ £ 7 Grants received in advance Awards for All - - |
Total funds 2021 £ 57,151 - 57,151 Fixtures & fittings £ 24,046 3,154 - 27,200 24,046 - - 24,046 3,154 - Total funds 2021 £ - |
Total funds 2020 £ 57,497 - |
|---|---|---|
| 57,497 | ||
| £ 376,573 11,113 0 387,686 131,801 6,140 0 137,941 235,479 230,506 Total funds 2020 £ 9,916.00 Total |
The Marsh Community Centre Charitable Company
NOTES TO THE ACCOUNTS Year ended 31 March 2021
| 8 Movements in funds Restricted funds Tudor Trust Garfield Western Foundation Francis C Scott Trust Areti Charitable Trust Lancashire County Council National Lottery Covid-19 response Lancaster Police Fund Grantscape NHS Community Foundation Coop Local Community fund CVS Lancaster Covid-19 relief Awards for All Marsh residents fire appeal donations Priory Church donations General funds Unrestricted Funds Fixed assets fund Lancaster City Council |
Balance 01.04.20 £ (1,788) 14,479 3,023 509 2730 791 - - - - - - - - 19,744 - - 19,744 38,441 230,506 288,691 |
Incoming resources £ 27,000 - - 24,803 - - 22,419 11,000 1,951 5,000 1,083 2,145 2,550 9,916 107,867 4,456 1,667 |
Outgoings £ 24,305 7,042 2,993 10,375 1,591 641 22,240 7,520 0 517 405 0 433 6,385 84,447 4,986 1,686 |
Transfers £ (179) (179) 530 18 369 (369) - - |
Balance 31.03.21 £ 907 7,437 30 14,937 1,139 150 0 3,480 1,951 4,483 678 2,145 2,117 3,531 |
|---|---|---|---|---|---|
| 42,986 0 0 - |
|||||
| 113,991 16,477 11,113 141,580 |
91,118 6,886 6,140 104,144 |
42,985 47,663 235,479 |
|||
| 326,127 |
Purposes of the restricted funds
The restricted funds are provided by the grant providers and donors and can only be used for the purposes set out in the grants and donators made by each provider.
9 Related party transactions
There were no transactions with related parties during the year.
10 Untimate control
The company is controlled by its members in general meeting in accordance with the Memorandum and Articles of Association. No member is entitled to more than one vote.