COMPANY IYO: 04906693 CHARITY NO: 1102413 CANCERa¢tive (a company limited by guarantee) FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
CANCERa¢tive (# compADy limited by gu8rantee) CONI'LNTS Page Legal and Administrative Infonnalion Report of the Trustee5 Ind¢p¢ndent Examin¢r's Report Siai¢mcni of Financial Activities Balance Sheei Notes forming part of the Financial Statetnents 10-13
CANCERa¢tive { ¢omp4llTr limited by guaran¢¢e) LEGAL AND ADMINtSTRATtVE INFORMATION SttU8 CANCERactive was incorpordted on 22 SepteMr 2003 as a company limited by guarantee and register as a charity on l Mah 2004. The company M'as created under a Memorandum of Association, which established the objects and wwers ol- Ihe Charithble Company and is governed under its Articl¢s of Association. Under ihosc Articles (he Board of Twstees are elected al the AGM 10 5eFve a period of 3 years, subje£l to rntification at each AGM. Charily Numb¢r: 1102413 Directors and Trusttts The directors of the charitable compan). are its trnstees for the purpose of charity law and throughout this report are colle¢tively referred to as ihe trusi¢es. The trnstees serving durin8 the and since the year end were as follow5.. K J Jame5 (sIgned 22 April 2020} G Fielding (resigned l July 2021) L Brooks S M Thomas (formerly W(yollams) Secretary: S M Thomas (formerly Woollams) Registered Comp2ny Number: 04906693 Regislered Offjee and OperalioD5 Address Appletree Cottage IJY Lanc Fulmer Bucks SL3 6HJ Bankers HSBC 2 Walton Road AYLESBURY Bucks HP217SS Independenl Examin¢r Philip Thompson FCA CTA Thompsons MK Limited l Hathaway Court Crownhill Milion Keynes MK8 OLG
CANCERactive (a company limited by guAran¢ee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The Tn1¢¢$ pr¢s¢nt their r¢tK)rt and the accounts of the company for the year ended 31 Mah 2021. Activitie5 The company is a charity and exists to provide information froTn all published scientific sources around the world so that people wanting to beat cancer can make more infonned choices. Objectives The objectives of the charity are: Thc r¢lief of sickness of F¢T50ns suffering from cancer by the provision of support and infornjation. The advancement of educalion of th¢ publi¢ by funding for research into cancer and the dissemination of the useful results of such res¢ar¢h and by providing infom]alion and advice. The Trustees have ref¢rr¢d to the Charity Commission's generdl guidance on public benefit when reviewing the objective5 and when planning future tiVIties. Structiirei governance and mgnagement The charity is constittbted as a company limited by guarnniee. TruStS ar¢ recruited by personal invitation and recomtnendation and are entirely voluntary receiving no remunerntion. Results The net incoming resources for ihe period amounted 10 £20.007. At 31 March 2021 the charity had fund surplus of £68,337. being restricted funds of £1.739 and general reserves of £66.598 Missioll CANCERactive aims io provide infornialion. not just on orthodox medicine. The charity is not supported by any major Corporations (such &s phannaceutical companies) and so has been unable lo fund ils 01 resear¢h, which is extremely costly. However it successfully fulfills its objectives by focusing on pn)viding various types of information including the r¢s¢ar¢h of otho from around the world. It also provides sUPPOrt io ¢aTr¢¢r Paiients. The charity does nol provide adTr'ice or counselling as ihe Trustees feel thai the resources of the charity are loo limiied and, furthennore. the) feel this might break the 1939 CarKer Adverttsing Act. To date the charity has pioneered a free and unique magazine. IC•1 (Integrated Cancer and Oncolo&v N¢ws), which is available in over 400 hospitals. can¢er ¢lini¢s and libraries across Britain. The mag]ne is very well received by patienls and hospital staff. Oncology professo from knth sides of the Atlantic contribute. Unfortunatelv due to COVID-19 restrictions we are unable to circulate so publishing is suspcndcd and 'll1 Ml $0 until restriclions are lifted. The charity has a large and informative Mebsile [.'.¢anCectiVe.¢OM) which provides extensive infornlation on all types of cancer and cancer preveniion. The website also provides up io date reports
CANCERa¢tive { companv limited bi. guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED) on research and clinical tria15 from around Ihe world in its research c¢ntre 'Cancer Waich,. A Medi¢al Board was set up in the year 201112 and this includes professors of on¢ologyy inlegrdtive doctors and experts in the field of compl¢menW iherapy. Th¢ charity has two Infomiation Ccntr¢s callcd 'fatherine Corn¢rs" a5 a source of inforniation and supwrt to cancer patients in local ar. Review gnd Future Strgtegy The overall surylus Caled forward at 31 March 2021 w&s £68.337. of which £1.739 was in respect of restri¢ted fund5. It w&$ a rnther cdd year for CANCERaclive. On one hand more and more people touched by Ctr wrote in ielling us how they loved wh8t we do. how we were 'a Ixa¢on in a dark world.. how we "eMWered them. and how by following our diet and cxercise recommendations (amongst other complementary therapies we report on} they had achieved the ultimate. They had beaten their cancer. Pcopl¢ love the Website and they love the icon magazine. Chris Woollams has much the same in his Post Bag. Nol jl from patients but from doctors from around ihe world telling him how ih¢y both cnjoy and respect his research and his objectivity. It's a recurring ihemc. People know ihat with CANCERactive you get independent objective thinking, unbiased by donations or financial contributions. On the other hand, we live in a dark world. We consistently have over 8000 pages read each day. We know. bcLause we have Counters on each page. yet Google. who introduced a pro-pharnia Medi¢ Algorithm. consistently rew)rt thai we gel just a few hundred io two thousand. Especially in Americ natural health siies claim Google and some other social media platforms simply don't want people accessing naturnl healih Websiles. This is still ongoing They want patients doing the orthodox tnedi¢al programm¢s only- they. Wikidia (where Doctors and scientists in America reiM)rted that 9 oui of every l O health pages were inaccurdte). Cancer Research and so on. We are taking st¢ps to rem¢dy this including a cotnplele wcbsiie overhaul which is ongoing bul will k completed in Q4 of 2021. However, will thal Slop the Health movemeni? We note 8n increasing open-mindedness amongst Doclots in the UK towards diet, exercise and other complementary therapy. And so the should be. In the UK, we ore falllng dramatically behind best prkclice in America where some hospitals now tailor diet to the individual and il is largely based on the Rainknw Diel (the olourful Mediterranean diet, entlY l'oi¢d the ,hCalthie diet in the world, by a panel US Health ExTKris),' nian). openly encourage exercise. other5 warn aEM)ut sugar. some prescribe mclatonin, or indole 3 larbinol or gTive injections ofvitatnin D on diagnosis. Th¢r¢ are Prolon Beam Centres all over America, Nanoknife is widely used as is ablation. There are at least 3 centres wh¢re men with prostate cancer can gcl HIFU from oncologists who have successfully treated ov¢r 1500 palients each. Y¢1 in Britain. we suffer myopia- we look for more and more n¢w dg$. But why ore we locked into a failcd system. The A¢ad¢mY of Royal Colleges 2014 report on Pallialive Care staled that palliative drugs were a 8$t¢ of money and the Government'5 special fund had delivered no benefit to paiienls-
CANCERactive (4 company limited by gugr¥iitee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED) the money would be better spent on good nursing. Professor Charlie Swanton of UCL and his team at the Criek Instiiute reviewed the 71 new drugs Ikunched irt the 12 years to 2016 and concluded on av¢rage they provided just 2.1 extra months of life. A well-known Skeplie. UCL pharnJa¢ologi5t Professor David Colquhoun, broke ranks and on TV said the problem wilh all the new drugs was that most of Ih¢tti w¢r¢n't any good. No surprise then thal we'v¢ had an FDA report slating that more tha 40% of Clinical Drug trials werc flaw'ed. Yei figures for survival are improving in the UK. If it's not the drugs over the 1&8112 years, wh&1 is it? Still, 83V/o of cancer patients fake a suppl¢ment- 68•A take 3 or more- over 700/0 of patients do at l¢asi one complem¢ntary therapy - no. not painting. th¢y take exercise. change their diet, lose weight, ¢ut Sugar and red meal conswnption, lake up yoga and m¢ditation- all ihings we know improve their health. Patients also understand that they have other options, lik¢ thos¢ widely avatlable to Americans, thanks to che research inforniation we rewTrrt. We have paiients who have built their own anli4ancer progrdmmes on top of the orthodoxy and, Surprise, surprise. their survival times increw, their death raies fall. they feel fitter and happier and their drugs work better with less side-effe¢ts and. gu¢s5 what, they beat iheir can¢¢r. This is totally in line with the 7-ycar study from Ihe American Cancer S¢Kiely who showed that stage 3 cancer patients who had had surgery and ch¢moiherapy. increoscd survival by 3 IYO and had 42Yty less death across those 7 years if they adhered closely to the ACS diet and exercise programrnes. The inconvenient Truth is that all over Britain people with cancer are ¢mrM)wering themselves with Complementary and Iniegrdtive medicine (CIM) because they know that ihe drugs. radiotherapy and surgery are just not enough to cure them. Suryiving 5 years is not their goal. Beating cancer is. And CANCERactive is ai the forefront of that. We have become a culi, where word of mouth beats the mighty Google. Where people who beat their odd5 of survival tell oihers how CANCERactive ca help them increasL' their oxygen, and vitamin D, and restore th¢ir gut. rebuild their immune system. stop fal spreading cancer. eat a nourishing diet, actively manage their stress and so on. People comc to us, bccaus¢ wc talk nse, it's backed by th¢ scierTrce of Epigenetics and it works. Over the next 12 monihs, we have some big tsrgets. We are golng to further build a strong Medical Board who believe in Complementary and Integrative Medicine for cancer. we are going to have a ajor push on fund rdisin& we a going to build a much stronger local presence so 'Word of Mouth, will be slron8er, and we will add trustees so that each area has a Trustee in charge. We are aiming to increase our Community Membership who subscribe quarterly by giving them free access to the Chris Woollams Sunday shows and we hope lo ¢rcate a strong and rcgular income with a tsrget of 1000 subscribers £60 p.a. That is already proving successful and helping with fundraising. The mission is clear.. we help people Increase their personal odds of survival through Complementary and Intcgraiivc Medicine, and it works. We just want lo do more and more of what we are go(xl al.
CANCERactive (a compAnTr' Ilmited bi. guarantee) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 (CONTINUED) Reserves Policy The Trustees have established a p)licy whereby the unrestrithed fimds not commilted or invesied io tangible fixed assets ('Ih¢ fr¢e res¢rves-) held by the charity should be between 3 to 6 months of the resourLes expended. At this level the Trnslees believe that they would be able to continue the current acti*itiCs of the ¢harity in the event of a significant drop in funding. It would obviousl}, be necessary to consider how funding would replaced or activities changed. Risk Review The Trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to mitigale those risks. Significani external risks lo funding have led io the development of a strategic plan (sce abov¢), which will allow for div¢t5ifi¢ation of funding and activities. Internal risks are minimised by having auihorisation for all transactions and projects and having procedures in place for computer failure. Internal reviews ensure that a consistently high standard of infomialion is given and the social policies are fully compliant with Current legislation. These pr(Kcdure5 are p¢riodi¢ally reviewed to ensure they still mc¢i the n¢¢ds of the charity. Respon$ibtlities of the Trustees in Relation to the Trin4ncial Ststements The charity. trustees (who are also the directors of CANCERactive for the purposes of company law) are r¢sponsible for preparing a trusices, annual report and financial statemcttts in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trusl¢¢s to prepare fllwicial statements for each year which give a true and fair view of the state of affai of the charitable company" and of the incoming resources and appli¢ation of resourccs. including the income and cxpenditure. for that period. In preparing th¢ financial statemcnls. the trustees are reqvired to: select suitable accounttng tK)licies and then app]y them consisiently; observe the methods and principles in the Charilies SORP" make judgements and estimates that arc reasonabl¢ and prudent; stace wh¢iher applicable accounling standards have been followed. subject to any material d¢partures disclosed and explained in the financial statements. and prepare the financial statcments on the going ¢on¢ern b15 unless it is inappropriate to presum¢ the ¢harity will continue in operation. The trustees are r¢sw)nsible for keeping proper accounting records ihat disclose with reasonable accuracy at any time the financial posiiion of the charity and to enable ihem to ensure thal the finan¢ial statements comply with the Companies Act 2006. They ar¢ also responsible for safeguarding the ossets of the charity and hence taking &Sonable steps for the prevention and detection of fraud and other irregvlariiies. This repo as approvcd b he tnle¢S on 27 Odober 2021 and is signed on their behalf by.. L Br(K)ks Trustee
CANCERactive (a eowpally limited by guarnntee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CANCERactive I report on the accounts of the company for the year ended 31 March 2021, which are set out on pages 8t0 13. Respective responsibilities of trustees and CMIner The charily's trustccs (who ar¢ also the direciots of Ihe company for ihc purposes of company law) are rcsponsible for the preparation of the accowits in accordance with the requirements of the Companies Aci 2006. The trusiees Consider ihai an audii is noi requid for this year under section 14412) of the Charities A¢1 2011 ('the Charities Aci"",) and thai an indcpendent examination is n¢eded. Having salisfi¢d myself thai ihe chlty is noi subject io audii under company law and is eligibl¢ for independent examination. it is my resp)nsibility to= examine the accounts under seciion 145 of the CbaritTr¢s ACL to follow the procedures laid dowll In the general Directions given by the Charity Commission under section 145(5Xb) of th¢ Charitics Ath: and to state whether particular matters have come to my atteniion. B*sis of illdependellt exgmitter's report M). examinalion was Caled out in accordance with the generdl Directions given by the Charity Commission. An examination includes a review of the accounting rerdS kept by the charity and a comparison of the a¢counts pr¢sented with those records. It also includ¢s ¢onsid¢rntion of any Lmusual items or disclosures in the a¢counls. and seeking explanalioos from the tnlet5 concerning any such matters. The procedures undertaken do noi provide all the evidence thaT would be required in an audit and consequently no opinion is given &$ to whether the accounts present a 'trne and fair view, and the report is litniied lo those matters set out in the statement below. Independent exgminer'5 StatemeD¢ In ¢onn¢¢iion with my examination. no maner h85 come to m), attention.. (l ) which gives me reasonable cause lo klieve thai ID any material respect the requirements: to keep accounting records in accordance with section 386 of the Companies Aci 2006- and to prcparc accounts whi¢h a¢cord with the accounting rccords, Comply with ihe accounting requirements olscclion 396 of the Companies Act 2006 and with the methods and principles of Accounting and Reporting by Charilies.. Stsiemeni of Recommended Pr8clic¢ appli¢able to charities preparin8 their accounts ID accordance witb the Financial Rep)rting Standard applicable in the UK and Republtc of Ireland (FRS 102). also know as the Charities SORP (FRS I O?) have not be¢n mei- or {2) to which. in my opinion, attention should be drnwn in ord¢r io ¢nable a prop¢r understanding of thc accounts io be reached. PD Philip Thompso CA CTA Thompsons MK Limiied Chanered Accountants l Hathaway Coun Crownhill Milton Kcynes MK8 OLG Dated= 27 O¢tober 2021
CANCERactive (a compan). limited by guargntee) STATEMEwf OF FtNANCIAL ACTtvrrtES FOR THE YEAR ENDED 31 MARCH 2021 2021 Total Funds 2020 Total FuDd$ Note Unr¢slricted Re5trieted Funds Funds tNCOMING RESOURCES Donations. tKgaci¢s and Similar Incoming Rcsources 92.274 5,000 97,274 64,440 TOTAL INCOMING RESOURCES 92.274 5.000 97.274 64.440 RESOURCES EXPENDED Dire¢l Charitable EXp¢ndIre Man&gement and Administration of the Charity 30.222 3.261 33.483 43.644 43.784 43,784 35,937 TOTAL RESOURCES EXPENDED 74.006 3.261 77.267 79,581 Net Movcment in Fund 18,268 1.739 20.007 (15.141) Balance ai l April 2020 48,330 48.330 63.471 BALANCE AT 31 MARCH 2021 66.598 1,739 68.337 48.330 The Stsiement of Financial Aclivities includes all gains and losses in the year and therefore a statement ol'total rLogniSed gains and losses has not been prepared. All of the abovc amounis relate to continuing activities. The Statetncnt of Ftnancial Aclivilies also complies with the requirements for an income and ¢xpenditure account under the Companics Act 2006.
CANCERactive (g comp4ny limited b). guaratttee) BALANCE SHEET- 31 MARCH 2021 Nole 2021 2020 TANGIBLE FIXED ASSETS Office Equipment 454 606 CURRENT ASSETS Siock Debtors Ballk 15,779 1.128 52.317 18.480 1,210 31,726 69.224 51.416 CREDITORS Amounts falling due within one y ,341 3.692 NET CURRENT ASSETS/(LIABILITIES) 67,883 47.724 NET (LIABILITIESYASSETS 68.337 48.330 CAPITAL FUNDS Unresiricled IrEcome Funds R¢siricied Income Funds 65,598 1.739 48.330 68.337 48.330 The directors Consider that ihe company is entitled to exemption from the requirement to have an audit under the provisions of seciion 477 of the Companies Act 2006 ('Yhe Act") and members have not required the compan). to obtain an audit for the year in question in accordance with section 476 of the Act. The directors acknowledge their res)nSibIlitieS for ensuring that the company keeps accounting ords which comply with scction 386 of th¢ Acl and for preparing ftnancial statem¢nts which give a trn¢ and lair view of the state of affairs of the Company as ai 31 March 2020 and of its profil for the year th¢n ended in accordan¢e with the requirements of section 396 of thc Act and which otherwise Comply with the Companies Aci 2006 relaiing lo the financial statements so far as appltcable to th¢ Cotnpan).. The financial stat¢menls have been prepared in accordance with the s¢la] provisions relating to companies subject to the small companies regime wiihin Part 15 of the Companies Act 2006 and in accordan¢¢ with Accounting and Reporting by Charities-. Siaiement of Recommended Practice applicable to charities preparing their accounts in a¢cordance with the Financial RetM)rting Standard applicdbl¢ in the UK and Republic ol Ireland (FRS 102). The financial s behalf on 27 l¢inents were a liber 2021 roved and auihorised for issue by the board and were signed on its L Brooks Trustee
CANCERactive { compatty limiied by guaranlee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 l) Principal AceoulltlDg Policies Accounting Convention Th¢ finathcial statements are prepared und¢r th¢ historical cosi convenlion and in accordance with the Companies Act ?006. In preparing the financial statements th¢ chaTity follows best practice as laid down by Acrounling and Rcporting by Charities.. Statement of Recommended Prdcli¢e applicable io charities preparing their accounts in accordance with the Financial Repor(ing Standard applicable in the UK 8nd Republic of Ireland (FRS 102}. b) Company status The Associ&tion is a ¢ompany limited b), guarnntee. The member5 of ih¢ company are the trustecs named on page 2. In ihe eN'ent of the Ass(Kiation being wound up, the liabiliry iii resp¢ct of the giiarantee is limited io £1 per member of the Association. T8Dgible Fixed Ass¢ts nd Depreeiatio Tangible fixcd &5s¢ts ar¢ stated ai cosi less depr¢¢ialion. Depre¢iation is provided at rat¢s cal¢ulal¢d to writ¢ off the Cost of fixed assels. less their csiimaied residual value. ov¢r their expected uscful lives on ihe following bas¢s'. Office equipment.. 25Y• reducing balance. d) Stock Stock is valued at the lower of cost and net rcalisable value. Debtors Debtor5 are measured at their r0verable amounts lthe amount the charity anticipates il will receive from a debt or the amounl it has paid in advance for giKyds or servic¢s). Cr¢dilors cditors and provisions for liabilitics and charges are mured at the amount the charity anticipates it will FAY to settle the debi or the amount it has ffceived as an advan¢e paymeni for goods or services it must provide. 10
CANCERactive (a eompany limiled bv guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (coNrINUED) Dong¢ioDS and GraDts In¢om¢ from donations and grants is included in incoming resources when these are recetvable. except as follows'.- when donor5 spe¢ify donatio al grdnts given io the charity must be used in future accouniing periimts. fftncome 15 defetred until those periods. when donors imp)se conditions which have io be fulfilled before the ¢harity becomes eniitled to use such income. the income is deferred and not included tn incoming resources until the pre-conditions for use have been met" when donor5 specify that donations and grdnts. including capitsl grants are for particular ffstricted purposes. which do not amount to pre condition5 regarding eniitlement. this income is Included in incomin8 resources of restricted funds when receivable. h) Resources Expended R¢sourt¢s expended included in the Statewnenl of Financial A¢tivit1¢5 on an accruals b&si5. ex¢lLLSiVC of VA T. Fund Aceounting Funds held by the charity are either= Unrestricted genernl fund5 _ these are funds which can be used in accordan¢¢ with th¢ chariiabl¢ objects at the discretion of the Truste¢4 or Restricied funds - Ihesc are funds that only be used for particular restricfrd purposes '1th1n ihe objects of th¢ charity,. Rcstriclions arise when specifIed by the donor or when funds are raised for particular restricted purpose. 2) DonatjODS. Legac1 and Oiher Incoming Resources Ullregtricted Restricted 2021 Total 2020 Total 75.613 11,613 5,038 Donaiions Sunday shows Magazine and book sales AdTr'ertising income Bank interest 5.(M)O 80,613 1,613 5.038 58,284 4,246 1.850 60 10 10 92.274 97.274 64.440 3) Direet Charitable Expenditure Mag.Ine and book production Fulfilmenl Fund raising events Website Inforn?ation provision 2.701 560 2,701 560 150 19.362 10.710 13,236 .435 763 16.690 11.520 150 19,362 10.710 30,222 3.261 33,483 43,644
CANCERactive (# eomp#n%' limi¢ed b!. gyaraDtee) NOTES TO THE AccouNfs FOR THE YEAR ENDED 31 MARCH 2021 (coNriNuED) 4) Mana2emeDt and AdmiDistrntiOD of ihe Charity Unrestri¢ted Restricted 2021 Total 2020 To¢•1 Administrntion Phoio¢opying and Stationery Bank Charges Telephone Consultancy Legal and Professional Licences. Permiis and Subscriptions Independent cxamination Bookkeeping In4urdnce Advertising Travelling and Enierthining Storage Depreciation of oftTice equipment 8,054 130 8.054 130 2,127 1,889 12,290 4.215 70 1.560 1,819 8.947 1,889 12,290 3,555 1.200 9,738 587 655 3,555 1,200 9.738 587 655 4.392 1.200 9.693 541 113 3.185 202 3.407 152 3,407 152 43,784 43.784 35.937 5) Trustees RemullernlioD & Eipenses MemkTS of the Board of Trusie¢s receive no remunerdlion for their services neither do they receive any expenses from the charity. 6) Related partv transactions There were no related party transactions during the year. 12
CANCERactive (# comp8D)' limiied b). guarantee) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 (CONrtNUED) 7) Tangible Fixed Assets oiriee Equipment Cost At l Aprtl 2020 Additions 3.304 Ai 31 March 2021 3.304 Depreeiation At l April 2020 Charge for the ycar 2,698 152 At 31 March 2021 2,850 Ne¢ book v3ilue At 31 March 2021 454 Ai 31 Morch 2020 606 8) Deb¢ors 2021 2020 Trdde Debtors Oiher Debtors 130 1,080 1,128 1.128 1.210 9) Creditor5 Amounts falling due within one year 2021 2020 Trade Creditors Actyruals 141 1.2¢)0 2,492 1,200 1.341 3.692 10) Share Capilal and Members, Liability The charitable company is limited by guar8nl¢¢ and does not have a shar¢ capital. In the evenl ot. thc ¢hariiable company being wound up every member. whilsi he or she is a member, or within ottc y¢iW after he or she ceasC5 to be a member, undcrtakc to ¢ontribute to ihc assets of thc company such amount as ma), be requircd not ex¢eeding one w)und. 13