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2024-09-30-accounts

Charlty registration number 01115673 {England and Wales) Company registratlon number 05477406 THE BRITISH ASSOCIATION OF PLAY THERAPISTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE BRITISH ASSOCIATION OF PLAY THERAPISTS LEGAL AND ADMINISTRATIVE INFORMATION Current Trustees Ms S Boyle Ms S Hickson Ms J Hill Ms J McLauglin Ms M Fearn Ms AL Greenwood Ms E Schencks Ms A M2chon Mr P Kilgallon Ms T Lanigan Ms S Murray MrA O'mahony (Appointed 8 February 2024) Senior management S Hickson J McLaughlin Chair Vice Chair Charity number (England and Wales) 01115673 Company number 05477406 Registered office l Billing Road Northampton United Kingdom NN15AL Independent examiner Cottons Accountants LLP 1 Billing Road Northampton Unitad Kingdom NN15AL

THE BRITISH ASSOCIATION OF PLAY THERAPISTS CONTENTS Page Trustees, report Independent examinels report Statement of financial activities Balancè sheet Notes to the financial statements 8-17

THE BRITISH ASSOCIATION OF PLAY THERAPISTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Current trustees present their annual report and financial statements for the year ended 30 September 2024. The legal name of the charity is The British Association of Play Therapists. The charity is also known by its operating name, BAPT. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Companies Act 2006 and 'Accounting and Reporting by Ch8rities-. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance wilh the Financial Reporting Standard appliGgble in the UK and Republic of Ireland (FRS 102). (effective 1 January 2019). Obje¢tlves and a¢tlvities Tci relieve the needs of children, young people and adults suffering emotional and behavioural difficulties by promoting the art and scienca of play therapy and promoting high standards in the practice of play therapy for the public benefit. Public benefit The Current trustees have paid due regard to guidance issued by the Charity Commission in deciding what activiti.es th8 charity should undertake. Activit18S Funds are raised to support and maintain the association's existing social activities. 2nd to Gontinue to provide services including education. training and advice, and the provision of infonnation. The executive committee is empowered to invest surplus funds in such investrnents, securities. and property as they see fit. Apart from funds invested in this manner. and shown as such on the balance sheet, the assets of the charity are held for the purpose of r&alising its stated aims. Our membership of the Professional Standards Authority (PSA) Sin￿ November 2014 has helped to enhanco the status of BAPT. To assist in achiaving Ihe key objects'ves of the charity. we- Have a website and us8 a range of Soci81 Media platforms to help publicise Play Therapy Accredit courses in Play Therapy Have policies to ensure standards of Play Therapy Produce booklets for children, families and professionals Hold an Annual Conference Attend and exhibit at conferences and exhibitions Provide free advice to beneficiaries Provide training for Continued Professional Development Encourage, support and publicise research into Play Therapy practice Publish a newsletterlbulletins., and Publish the British Joumal of Play Therapy Our main activities are to have a membership that is registered to ensure appropriate standards of play therapy training, continual professional development and supervision to protect the children, young people and adults and for public benefit. Voluntgers We would like to reGognise the valuable contribution made by our volunteers of Iheir Éime, given in support of all areas of our activities. and without which some areas could not operate.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Achievements and perforniance Significant acÉivities ancl achievements against objectives BAPTS achievements are as follows: We continue to remain Accredited with th8 PSA,. We remain the only PSAAG¢redited Register solely for Play Therapists., We continue to offer Portfolio Route to membership for non BAPT trained Play Therapists" Wa have an Int&rnational Offering to qualified play therapists who live and work abroad- We continua to hold Conferences eaGh year, albeit virtually in 2020 and 2021. Since 2022, the Annual Conf8rence has retumed to in-person meetings. We have increased our memberships numbers" We issue a BAPT journal., We continue to have 2 Lay members on the Board who are a major asset to the organisation- We r))ntinue to work alongside Ihe universities whose courses we accredit to ensure a¢credtted training continue5 to produce highly trained Play Therapists- We continue to be part of the Accredited Registers Collaborative and to work with other organisats"ons,' and We conlinue to uphold legal requirements to file what is needed at Companies House and Charity Commission. Through our main activities we have ensured that our m8mbers acquire appropriate standards of play therapy training, continual prof8Ssional development and supetvision to protect the children, young p8ople and adults under their care. This in turn benefits those end users and the wider public. Financial review -rhe trustees consider the financial perforrnance by the charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts. Reserves poliGy The association adopts a policy of budgeting to monitor receipt of, and application of funds. By careful management we strive to ensure a sufficient level of fvnds for contingencies to meet our various requirements. The association lias a reserves policy in common with all charities, which would provide a cushion if some of our varied sources of income that are av8ilable to the association were to fall short of Iheir budget targets. As a result. our levels of liquidity are purposely maintained at a sufficient level to ensure our commitments are covered. From an analysis of our situation, it remains dear that the associalion needs to continue to generate additional income, the opportunities for grants and corporate donations will be further explored. The trustees are working hard to take advantage of any opportunities that lie before us. The board of trustees is satisfied that the Gharty's assets in the general purpos85 fund are available and adequ8te to fulfil its obSigations. Structure, governance and management The Charity is a company limited by guarantee. registered under the Companies Act. The goveming document of the charity is the Memorandum and Artides of Association establishing the company under Company legislation. The governing document is datad 10 November 2023. Th8re are no restrictions in the govarning documents on th& operation of the Charity or on its investment powers other than thos8 imposed by Charity Law.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Current trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were-. Ms D Benson (Resigned 8 October 2Q24) Ms S Boyle Ms A Greenwood Ms S Hickson Ms J Hill MF P Kilgallon Ms T Lanigan MsALee Ms A Machon M5 J M¢Laughlin Ms S Murray MrA O'mahony Ms E Schencks Ms T Faa Thompsc)n Ms M Feam (Resigned 18 May 2024) (Appointed 8 February 2024) (Resigned 18 May 2024) Recruitment and appointment of trustees The trustees are the honorary officers, members of tho Executive Committee, and the holding trustees, who have sarved throughout the year. Trustees shall be elected for three years commencing 8t the AGM they are elected. After the three-year term has elapsed, they will be eligible to stand for re-alection at the AGM for a further thre8-year term. After 2 consecutivo threè-year terms, twstaes shall be eligibl8 to stand for re-election for a further term of one year. No elected trustee will serve on the Board of trustees for more than seven consecutive years from the date of their first election unless they are nominated by a non-retiring truste8. The exceptions to this 7-yaar limitation ar8 the roles of Gompany Secretary or Treasurer. whereby the trustee holding eilher of thes8 ro18s can stand for re-election every 3 years, without limitation. The usual nomination and re-election procedure will apply. A majority is required afi an AGM or an EGM to appoint or elact a member to the executivg committeelboard of directors. who are the managing trustees. Members are invited to nominate trustees prior to the AGM. AII fvII members of the association presant at the maeting are able to tske part in this vote. Non& of the Cu￿ent trustees has any beneficial inter6st in the Gompany. All of the Current trustees ara mambers of the wmpany. Induction and t￿Ining of tmsteès New trustees are advised of all documentation held in the association's office relating to their legal requirements and obligations under charity and company law, recent financial stataments, minutes of m9etings and goveming documents. Trustees are informed of any exiernal training events appropriate to their role.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Dlsclosure of inforniatton to auditor Each of the Current trustees has confimed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confim)ed that they have tsken appropriate steps to identify such relevant informatian and to éstablish that tha auditor is aware of suth information. The trustees, report was approved by thé Board of Current Trustees. Ms S Hickson Trustee 17 May 2025

THE BRITISH ASSOCIATION OF PLAY THERAPISTS INDEPENDENT EXAMINER'S REPORT THE CURRENT TRUSTEES OF THE BRITISH ASSOCIATION OF PLAY THERAPISTS I report to the Current trustees on my examination of the financial statements of The British Association Of Play Therapists (the charity) for the year ended 30 September 2024. ResponsibilltÈes and basis of report As the Current trustees of the charity (and also its directors for the pU￿oseS of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the ¢harity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(bl of the Charities Act 2011. Indep8ndent examinerfs statsment I have completed my examination. I confimi that no matiers have come to my attention in connection with the examination giving me causa to b81ieve that in any material Tespect: accounting records were not kept in respect of the charity as required by section 386 of th& Companies Act 2006. the financial statements do not accord with those records; or the financial statemenls do not comply with the accounting requirements of seclian 396 of the Companies Act 2006 other than any requiremenl that the financi81 ststements give a true and fair view, which is not a matter consideied as part of an independent examination: or the financial statements have not been prepared in 8ccordance with the Tnethods and principles of the Statement Df Recommended Practice for accx)unting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concems and have come across no other matters in connedion with the examination to which attention should be drawn in this reporl in order to enable a propor understanding of Ihe financial statements to be reached. Cottons Accountants LLP 1 Billing Road Northampton NN15AL United Kingdom 17 May 2025

THE BRITISH ASSOCIATION OF PLAY THERAPISTS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURÉ ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 98,069 33,421 3,047 369 89.586 38,516 1.738 477 134.906 130,317 Total inGome Expenditure on: Charitable ath-vities 128,050 77,153 128.050 77,153 Total expenditure Net income and movement in funds 6,856 53.164 Reconclliatlon of funds: Fund balances at 1 october 2023 242.491 189.327 Fund balances at 30 September 2024 249.347 242,491 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive frcm continuing activities.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS BALANCE SHEET ASAf80 2024 2024 2023 Notes Current assets Debtors Gash at bank and in hand 14 23,403 233.770 21,736 229,938 257,173 251,674 Creditors: amounts falling due within one year 15 (7,827} (9.183) Net curr8nt assets 249,346 242.491 The funds of the charlty UnrestriGted funds 16 249,346 242,491 249,346 242.491 The company is entitled to the exemption from the audit requirement Gontained in s8Ction 477 of the Companies Act 2006, for the year ended 30 September 2024. The directors acknowledge their responsibilities for complying wilh the requirements of the Gompanies Act 2006 with raspect to accounting records and the praparation of finanGial statements. The membars have not required the company to obtain an audit of its financial statements for tha year in question in accordance with section 476. These financial statements have been prepared in accordance wth the provisions applicable to companies subject to the small Companies regime. Tha financial statements were approved by tha Currant trustees on 17 May 2025 Ms S Hickson Trustee Company registration number 05477406 (England and Wales)

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS FOR THE Y AR ENDED 30 SEPTEMBER 2024 Accounting policies Charity infomiation The British Association Of Play Therapists is a private company limited by guarantee incorporated in England and Wales. The registered offico is 1 Billing Road, Norihampton, NN15AL, United Kingdom. 1.1 Accounting convention The financi21 statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006. FRS 102 "The Financial Reporiing Standard applicable in the UK and Republic of 1reland" and the Charities SORP "Accounting and R8POrting by Chariti8s: Statement of Recornmended Practice applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicabla in th8 UK and Republic of Ireland {FRS 102}". The Charity is a Public Benefit Entity as d8fined by FRS 102. Tha charity has taken advantage of the provisions in the SORP for charities noi to pr8par8 a statement of cash flows. The financial statemants are prepared in sterting, which is tha functional currency of th8 charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal awounting policies adopted ar8 set out below. 1.2 Going concern At the t'me of approving the financial st8taments, the Current trustees have a reasonable expectation that th8 charity has adequate resources to continue in op8rational existenc8 for the foreseeable futur8. Thus the Current trustees CDntinue to adopt the going concern basis of accounting in pr8paring fhe financial statements. 1.3 Charitable funds Unrestricled funds are available for use at the discretior¢ of the Current trustees in furtheran￿ of their charilable objectives. Restricted funds are subject to specific conditions by donors or grantor5 as to how they may be usad. Th8 purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capitsl must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measurad reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in re18tion to donations re￿iVed under Gift Aid or deeds of covenant is racognised at the time of the donation. Legacies are r8cognised on raceipt or otherwise rf the charity has been notified of an impending disttibution, the amount is known, and receipt is expected. If th8 amount is not known, the legacy is treated as a contingent asset.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) OR THE YE R ENDED 30 SE MSER 2024 Accounting pollcies The income and any associated Gift Aid or other tsx refund from a membership subscription recaived by the charity in the natura of a gfft, is accounted for on the sarne basis as a donation. Thè income from a membership subscription received by the Gharity where the subscription purchases th8 right to servicés or benefits is recognised as income from charitable activities. (Continued} 1.5 Expenditure Expenditure is recognised Once there is a legal or constructive obligation to transfer economic beneffit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation Can be measured reliably. Expenditure is classified by activity. Th8 costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivity. Direct costs attributable to a single a¢tivty are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activty are apportioned between those activities on a basis consistent with the usè of resources. Central staff costs are allocated on the basis of time spent, and depreciation Gharges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at Cost and subsequendy measured at cost or valuation, net of depreciation and any impairment losses. Depreciation 15 recognised so as to writa off the cost or valuation of assets less their residual valuas ov8r their useful lives on the following bases.. Plant and equipment The gain or loss arising on the disposal Of an asset is determined as th8 diffarence between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activit18S. 259/0 reducing balance All fixed assets costing more than £1,000 are capitalised. A regular annual review of the likelihood of assat impairment is undertaken. 1.7 Cash and cash aquivalents Cash and cash equlvalents in¢lude cash in hand, d&posits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The Gharity has elacted to apply tho provisions of Section 11 'BasiG Financial Instruments, and Section 12 'other Financial Instruments Issuas, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of tha instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognisad amounts and there is an intention to settle on a nat basis or to realise the asset and settle the liability simultaneously.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) R THE YEAR EN ED 30 SEPTEMBER 2024 Ac¢ountlng pollcies {Continued) Basic flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effecfiive intarest method unless the arrangement Gonstitutes a financing transaction, where the Éransaction is measured at Ihe present value of the fLrture receipts discounted at a market rate of interest. Financial assets classifi8d as receivable within one year are not am0￿-S￿d. Basic financial liabilities Basic financial liabilities, inGluding creditors and bank108ns ale initially recognised at transadion pric8 unless th8 arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to P8y for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classrfied as current liabilities if payment is due within one year or less. If nol, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amorbsed cost using the effective interest method. Derecognition of financial Jiabilities Financial liabilities are derewgnised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Employee benefits The cost c>f any unused holiday entitlgment is recognised in tha period in which the employ8e's services are received. Tem)ination benefits are recognised immediately as an expense when the Gharity is damonstrably committed to terminate the employment of an employee or to provide termination benèfits. 1.10 Fund Accountlng Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectiv&s of the Gharity. Designated funds are unrestricted funds earmarked by Trustees for particular purposes. There ar8 no such funds at the balance sheet date. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law. There are no such funds at th8 balance sheet date. Critical accounting estimates and judgemonts In the application of tha charivs accounting policias, the Current trustees are required to make judgements, estimates and assumptions about the carrying amount of ass8ts and liabilitie5 that are not readily appaient from ()ther sources. Th& estimates and associated 8SSUmPtions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are revi8wed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that p8riod, or in the period of the revision and future periods wher8 the revision affects both current and future periods.

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EN O SEPTEM 2024 Income from donations and legacles Unrestricted funds 2024 Unrestricted fiinds 2023 Small donations individually less than £1,000 Membership subscriptions as donations Membership donations - GiftAid claims 26 85,916 12,127 17 77,898 11.671 98.069 89.586 Income from other trading activities Unrestricted Unr8Stri¢ted funds funds 2024 2023 Membership subscriptions and sponsorships Shop i come Othar i 30,378 880 2,163 37,150 402 964 come Other rading activities 33.421 38.516 Inco from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 3,047 1,738 Other Income Unrestricted Unrestricted funds funds 2024 2023 Royal ias 369 4T7

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THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE Y ENDE 30 SEPTEMBER 2024 Support costs allocatod to activities 2024 2023 Operdting18ase charges Room hire Telephone, fax and internet Stationery and printing Receptionist services Membership subscriptions Software licences and IT expenses Liability and Contents insurance Sundry expenses GovernanG8 Costs 1,227 4,627 773 1,000 3,042 16.875 2.639 1.005 589 6,086 1,870 6,290 695 163 3,686 8,239 2,877 686 303 5.904 37,863 30.713 Analysed between: Premises expenses Administrative overheads Finanical costs Governance costs 4.627 25.923 1,227 6,086 6.290 16,649 1.870 5.904 37,863 30.713 Net mov8ment In funds 2024 2023 The net movemenl in funds is stated after chargingl(crediting)- Fees payable for the independent examination of the charity's financial statements Bank charges 1,758 1,227 2.551 1.870 10 Current Trustees None of the Current trustees (or any persons connected with them) recetved any remuneration or beneffts from the charity during the year. 11 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Engaged on msnagement and administration

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EN ED 30 SEpfE BER 2024 11 Employees (Contlnued) Employment costs 2024 2023 Wages and salaries 32.436 25,682 There were no amployees whose annu21 remuneration was mora than £60,000. 12 Taxation The charity is exompt from Laxation on its activities because all its income is applied for charttable purposes. 13 Tangible fixed assets Plant and equiprnent Cost At 1 October 2023 890 At 30 September 2024 890 Depreclation and impaiTment At 1 October 2023 890 At 30 September 2024 890 Carying amount At 30 September 2024 At 30 September 2023 14 Debtors 2024 2023 Amounts falllng due within one year: Trade debtors Prepayments and accrued income 1,654 21,749 999 20,737 23,403 21,736

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) R THE YEAR ÉNDED 30 SEpfE BER 2024 15 Creditors: amounts falling due within on8 year 2024 2023 Trad8 creditors Other creditors Accruals and deferred inGome 2,206 281 5,340 6,683 7.827 9,183 16 Unrestricted funds The unrestricted funds of the chaThty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by thé trustees for specific purposes. Resources At30 expended September 2024 At 1 October 2023 Incoming resources General funds 242,491 134,906 (128,050) 249,347 Prevlous year: At 1 October 2022 Incoming resources Resources At30 expended September 2023 General funds 189,327 130,317 (77,153) 242,491 These funds are held for meeling the objectives of th6 charily. and to provide reserves for future aGtivities, and. subject to Gharity legislation. are frea from all restrictions on their use. 17 Analysis of net assets between funds Unrestricted funds 2024 At 30 September 2024: Current assetsl(liabilities) 249,346 249,346

THE BRITISH ASSOCIATION OF PLAY THERAPISTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EN ED 30 SEPTEMBER 2024 17 Analysis of net assets between funds (Continued) UnrestriGted funds 2023 At 30 S8ptember 2023: Current assets]{liabiliti8sl 242,491 242,491 18 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 19 Ultimata controlling party The charity is under the control of its legal members. Every member of the Gharity is obliged to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of il being wound up while he or she is a member. or within one year after he or she ceases to be a m8mber.