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2022-03-31-accounts

Registered Company Number 6950288 Charity Number 1132510

Parks for Play

Report and Unaudited Accounts

31 March 2022

Parks for Play Reference and Administrative Details

Directors

Amanda Bradley

Rosalind Bolton (resigned 29th January 2022) Laura Harrison (resigned 12th November 2022) Joscelyne Mapp (resigned 29th January 2022) Jane Thakoordin (resigned 29th January 2022) Kay Yazigi (resigned 20 July 2021) Sherri Zakariyyau (resigned 27th July 2022) Shoma Akhtar (appointed 29th January 2022) Hazel Bradley (appointed 29th January 2022) Charlotte Bull (appointed 12th November 2022) Kim Roden (appointed 29th January 2022) Laura Watts (appointed 29th January 2022)

Registered office

All Saints Centre 2 Vicarage Road Kings Heath Birmingham B14 7RA Birmingham B14 7RA

Registered number

6950288

Registered Charity Number

1132510

Bankers

Unity Trust Bank plc Nine Brindley Place Birmingham B1 2HB

1

Parks for Play The report of the trustees for the year ended 31 March 2022

Introduction

The trustees present their annual report and accounts for the year ended 31st March 2022.

Name, registered office and constitution of the charity

Full name: Parks for Play Date of incorporation: 2nd July 2009. Company registration number: 6950288 Charity number: 1132510 Date charity registered: 6th November 2009

Charity registered office: All Saints Centre, 2 Vicarage Road, Kings Heath, Birmingham, B14 7RA

Public Benefit

The trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011, and have referred to and taken due regard to the Charity Commission guidance on public benefit. They consider the charity's activities are for the public benefit due to the nature of the inclusion and community work with children of all abilities provided by the schemes run by Parks for Play.

Objectives and Activities of the Charity

The objectives of the charitable company are:

2

Parks for Play

The report of the trustees for the year ended 31 March 2022 Summary of main activities and achievements of the charity in relation to its objects

Parks for Play is a unique charity created by parents, play and youth experts in 2004 to provide inclusive play and youth sessions prioritizing children and young people at risk of isolation. Parks for Play offers a variety of provision ; Scamps club (under sevens) and Smart club (overs sevens), Source (over twelves) and Source (over sixteens). Inclusive play and youth services are offered on weekends and during the holidays supporting regular beneficiaries, local disabled children and young people and often their siblings. The charity also makes space for emergency referrals from various specialist organizations and expands to take on larger numbers in the holidays.

Session planning puts children and young people with the highest individual needs at the centre of practice led by experienced, continuously trained and qualified staff. The practitioner team work hard to include all the children and young people most in need and meet their diverse individual development needs by customizing and extending their play and leisure opportunities. Most children and young attending Parks for Play rely on the charity to access shared play and leisure and to develop friendships in their own communities, outside of specialist school provision, which may be located far from their home.

Parks for Play started vital repair and renovation work on their new rented premises at the ex-city council Coronation Road Playcare in the April of 2021 to ensure it was a safe base for forthcoming summer delivery . Renovation and embellishment has been invested on a continuous basis wherever human and physical resources and any funding have been secured. During the Easter summer and winter holidays Parks for Play delivered free play and leisure sessions incorporating healthy food and physical enrichment as part of the Children’s Quarter Fit for All programme funded by DfE Holiday Activity Funds with match funding from BCC Short Breaks funds through Dens of Equality.

The charity also organized a first time overnight residential trip for a group of beneficiaries to Ackers Adventure centre which was a huge success for disabled children and young people. The trip facilitated massive steps forward in terms of independent living skills alongside entirely enjoyable outdoor challenging activities. Many of the young people managed personal risk and overcame hurdles to experience a significant sense of personal achievement.

Alongside the provision offered to key beneficiaries and as part of a commitment to opening up to the local community in their new home and demonstrating the value of inclusive provision Parks for play secured Commonwealth Games Funding. This funding ran monthly Sundays open to all local families. Th offer targeted locals with any children with any addit nal needs to come and enjoy free physical enrichment and play opportunities with a free shared community lunch with friends and family.

Disabled children, young people and their families can experience significant social exclusion. Inclusive community play and leisure offers avenues to personal development and creates powerful networks which is an investment in wellbeing for all the family. Parks for Play greatly appreciates and acknowledges the ongoing funding from BCC Shorts Breaks through Dens Of Equality and HAF through Children’s Quarter and Children In Need alongside the welcome embellishment of services through small grants to pilot new service provision.

3

Parks for Play The report of the trustees for the year ended 31 March 2022

Future Plans

The charity will open a new short morning service called Sprouts on weekends and in the holidays specifically targeting younger children with additional needs. This will ensure that with the move to a new base which has not excluded previous users of the charity, service take up transitions to being more rooted in the locality . The charity intend to looks at creating more services so that it is cost effective and makes maximum use of its new delivery base . There will also be a review of the infrastructure as with responsibility for its own building the investment required in managing a base and the quality of its services, there is a need for more senior staff.

Structure, governance and management

Nature of the Governing Document and constitution of the charity

The Charity is a charitable company limited by guarantee. It is governed by a Memorandum and Articles of Association.

4

Parks for Play The report of the trustees for the year ended 31 March 2022 The methods adopted for the recruitment and appointment of new trustees

Parks for Play had a successful community event in November 2021 when it completed its seventeenth year of delivery to raise funds and raise its profile. This outreach was followed by an annual general meeting in January 2022 which brought four new trustees on board. Many of the charity trustees have disabled children which can sometimes impact on their availability and capacity, but their experience and perspective are considered crucial. Parks for Plays ethos and polices have always been well discussed and established the roots to guide future development. Disabled children and young people are the key beneficiaries, and the charity will not cherry pick and exclude any child or young person on the grounds of their individual needs. The charity intends to further increase the number of trustees so that there is always sufficient capacity for prompt response and to broaden the existing skills base.

The Directors of the Company are also charity Trustees for the purposes of charity law and sit as a Board on a quarterly basis.

The Board seeks to use the knowledge and skills of parents of disabled or otherwise vulnerable children and specialists in all areas of delivering high quality legally compliant inclusive children services. On their appointment trustees undergo induction and have access to personal support to review Parks for Play's work, policies and procedures, financial management and consider their rights and responsibilities. Further training and mentoring are undertaken by trustees on a need’s

Organisational structure and decision making

The charity is managed by a Board of Directors who are also Trustees. A services coordinator is appointed by the trustees to oversee all service delivery staff and financial management. Fundraising development and governance support are partly funded and partly donated to the charity.

Risk management

The directors actively and regularly review the major risks which the charity faces. These risks are recorded on a Risk Register which, combined with risk assessments, enable the charity to effectively manage and mitigate risk.

Financial Review

Policies on reserves

The Board annually reviews the amount of reserves that are required to ensure that they are adequate to fulfil our continuing obligations. The reserves set aside provide financial stability and the means for the continuation of our activities in the coming financial year. The Trustees aim to keep at least 2 months’ worth of operating costs as reserves whilst ensuring there are always funds to cover redundancy costs . Redundancy costs remain nominal under 50% of a month’s operating costs due to part time positions and the recruitment of new senior staff in 2020

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

5

Parks for Play

The report of the trustees for the year ended 31 March 2022 Transactions and Financial position

The Statement of Financial Activities show net incoming resources for the year of £2,465 (2021: net incoming resources £11,028). There were no incoming or outgoing resources of a capital nature.

The total and free unrestricted reserves at the year end of 31 March 2022 stand at £8,453 (2021: £19,733).

Share Capital

The company is limited by guarantee and therefore has no share capital.

6

Parks for Play The report of the trustees for the year ended 31 March 2022 Statement of Directors' and Trustees' Responsibilities Statement of Trustees' Responsibilities

The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the Board of Trustees on 26th January 2023 and signed on its behalf by:

Laura Watts Director and Chair of Trustees

7

Independent Examiner' Report to the Trustees of the

Parks for Play

Respective responsibilities of charity trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in England and Wales.

Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with 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 the 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 to indicate that:

R B Welch FCA MA

Chartered Accountant P&W Social Accountants 10 Newent Road Northfield Birmingham B31 2ED

26th January 2023

8

Parks for Play Statement of Financial Activities incorporating an Income and Expenditure Account Year Ending 31 March 2022

Notes
Income
Donations
3
Charitable activities
3
Grant income
3
Total income
Expenditure
Expenditure on charitable activities
4
Total expenditure
Net Income for the year
Transfers between funds
8
Net income after transfers
Reconciliation of funds:-
Total funds brought forward
Total funds carried forward
Net movement in funds
Current year
Unrestricted
Funds
2022
£
3,185
31,455
6,365
41,005
30,505
30,505
10,500
(21,780)
(11,280)
(11,280)
19,733
8,453
Current year
Restricted
Funds
2022
£
-
-
87,575
87,575
95,610
95,610
(8,035)
21,780
13,745
13,745
-
13,745
Current year
Total Funds
2022
£
3,185
31,455
93,940
128,580
126,115
126,115
2,465
-
2,465
2,465
19,733
22,198
Prior Year
Total Funds
2021
£
6,759
5,190
121,524
133,473
123,445
123,445
10,028
-
10,028
10,028
9,705
19,733

9

Parks for Play Comparative Statement of Financial Activities incorporating an Income and Expenditure Account Year Ending 31 March 2021

Notes
Income
Donations
3
Charitable activities
3
Grant income
3
Total income
Expenditure
Expenditure on charitable activities
4
Total expenditure
Net Income for the year
Transfers between funds
8
Net income after transfers
Reconciliation of funds:-
Total funds brought forward
Total funds carried forward
Net movement in funds
Current year
Unrestricted
Funds
2021
£
6,759
5,190
10,639
22,588
11,560
11,560
11,028
-
11,028
11,028
8,705
19,733
Current year
Restricted
Funds
2021
£
-
-
110,885
110,885
111,885
111,885
(1,000)
-
(1,000)
(1,000)
1,000
-
Current year
Total Funds
2021
£
6,759
5,190
121,524
133,473
123,445
123,445
10,028
-
10,028
10,028
9,705
19,733
Prior Year
Total Funds
2020
£
10,957
2,230
94,051
107,238
116,575
116,575
(9,337)
-
(9,337)
(9,337)
19,042
9,705

10

Parks for Play

Company Number
6950288
Balance Sheet
as at 31 March 2022
Note
Current assets
Debtors
6
Cash at bank and in hand
Total current assets
Creditors:-
amounts due within one year
7
Net current assets
Total assets less current liabilities
Net assets
The funds of the charity :
Unrestricted income funds
Unrestricted revenue accumulated funds
8
Total unrestricted funds
Restricted Funds
8
Total charity funds
2022
£
-
22,948
22,948
(750)
22,198
22,198
22,198
8,453
8,453
13,745
22,198
2021
£
688
19,795
20,483
(750)
19,733
19,733
19,733
19,733
19,733
-
19,733
2021
£
688
19,795
20,483
(750)
19,733
19,733
19,733
19,733
19,733
-
19,733
8,453 19,733
19,733
19,733
19,733
-
19,733

The directors are satisfied that the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears on page 7.

The director(s) acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Signed

Laura Watts

Director and Chair of Trustees Approved by the Board of Trustees on 22nd December 2022

11

Parks for Play Notes to the Accounts For the year ended 31st March 2022

1 General Information

Parks for Play is a charitable company registered and domiciled in England. Its principal activity is to operate as a charity established to support the provision of play activities. Its registered office is All Saints Centre, 2 Vicarge Road, Kings Heath, Birmingham, B14 7RA.

2 Accounting policies

Basis of preparation of the accounts

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Parks for Play meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy,

The financial statements are presented in £ Sterling, its functional currency and rounded to the nearest £.

Accounting convention

The financial statements are prepared,on a going concern basis, under the historical cost convention as modified by the revaluation of freehold land and buildings and fixed asset investments. The charity is entirely dependent on continuing grant aid and as a consequence the going concern basis is also dependent on the continuing grant aid.

Incoming Resources

All income is recognised in the statement of financial activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Deferred income

In accordance with the SORP grants received in advance and specified by the donor as relating to specific accounting periods or alternatively which are subject to conditions which are still to be met, and which are outside the control of the charity or where it is uncertain whether the conditions can or will be met, are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts.

Recognition of liabilities

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants awarded are included in the statement of financial activities when approved by the trustees and agreed with the recipient. The value of grants unpaid at the year end is accrued. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Pension Costs

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the statement of financial activities in the period to

12

Parks for Play Notes to the Accounts For the year ended 31st March 2022

2 Accounting policies (continued)

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.

Finance and operating leases

Rentals payable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as incurred.

Funds structure policy

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully the monitor the application of those funds in accordance with the restrictions placed upon them.

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above.

Financial Instruments

The charity only has basic financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value.

13

Parks for Play Notes to the Accounts For the year ended 31st March 2022

3
Income
Unrestricted
funds
2022
£
Donations
3,185
Charitable Activities
Session, Venue and Other Income
31,455
Grant Income
BCC Short Breaks (Dens of Equality)
-
Chatterbox (Children's Quarter)
-
Children in Need (Small Grants)
-
Children in Need (Main Grants)
-
Coronavirus Job Retention Scheme
-
Fit for All (Children's Quarter)
-
Harry Payne Charitable Trust
-
Commonwealth Games
-
Small Grants
6,365
6,365
Total Income
41,005
4
Expenditure
Unrestricted
funds
2022
£
Direct Charitable costs
Salaries & Pensions
-
Other Staff Costs
640
Specialist Staff Training
988
Volunteer Exps & Police Checks
99
Play Venue Costs
204
Publicity & Printing
164
Play Session Resources
2,555
Play Workshops
1,109
Play Session Transport
35
Venue projects and maintenance
19,079
24,873
Support and governance costs for charitable activities
Premises Costs & Office Rent
2,535
Office & Administration Expenses
551
Telecommunications & Internet
87
Insurance
35
Bank Charges
82
Other Expenses
1,592
Accounts and Examination
750
5,632
Total Expenditure on charitable activities
30,505
Restricted
funds
2022
£
-
-
66,930
-
9,282
-
-
1,393
-
9,970
-
87,575
87,575
Restricted
funds
2022
£
90,305
11
435
-
675
-
957
-
-
1,420
93,803
59
40
289
1,200
219
-
-
1,807
95,610
Total
Funds
2022
£
3,185
31,455
66,930
-
9,282
-
-
1,393
-
9,970
6,365
93,940
128,580
Total
Funds
2022
£
90,305
651
1,423
99
879
164
3,512
1,109
35
20,499
118,676
2,594
591
376
1,235
301
1,592
750
7,439
126,115
Total
Funds
2021
£
6,759
5,190
61,750
11,149
24,622
7,497
5,867
-
-
10,639
121,524
133,473
Total
Funds
2021
£
103,795
851
459
-
4,798
-
5,141
180
368
-
115,592
2,831
1,274
372
1,785
150
691
750
7,853
123,445

14

Parks for Play Notes to the Accounts For the year ended 31st March 2022

5 Staff Costs and Emoluments

Staff Costs and Emoluments
Gross Salaries
Pension Costs
Numbers of full time employees or full time equivalents
Engaged on charitable activities
2022
£
76,654
13,651
90,305
2022
4
4
2021
£
92,979
10,816
103,795
2021
5
5

There were no employees with emoluments in excess of £60,000 per annum

Trustees received no renumeration for their services. Trustees claimed expenses during the period of £nil (2020: £Nil)

6
Debtors
Prepayments
7
Creditors: amounts falling due within one year
Accrued expenses
2022
£
-
-
2022
£
750
750
2021
£
688
688
2021
£
750
750

8 Particulars of Individual Funds and analysis of assets and liabilities representing funds

At 31 March 2022
Current Assets
Current Liabilities
At 31 March 2021
Current Assets
Current Liabilities
The individual funds included above are :-
BCC Short Breaks (Dens of Equality)
Commonwealth Games
Fit for All (Children's Quarter)
Children in Need (Small Grants)
Unrestricted Fund
Unrestricted
funds
£
22,948
(750)
22,198
Unrestricted
funds
20,483
(750)
19,733
Funds at
2021
£
-
-
-
-
19,733
19,733
Restricted
funds
£
-
-
-
Restricted
funds
-
-
-
Movements
in
Funds
as below
£
(21,780)
8,861
-
4,884
10,500
2,465
Total
Funds
£
22,948
(750)
22,198
Total
Funds
20,483
(750)
19,733
Transfers
Between
funds
£
21,780
-
-
-
(21,780)
-
Funds at
2022
£
-
8,861
-
4,884
8,453
22,198

15

Parks for Play Notes to the Accounts For the year ended 31st March 2022

8 Particulars of Individual Funds and analysis of assets and liabilities representing funds (continued)

Analysis of movements in funds as shown in the table above

Incoming
Resources
£
BCC Short Breaks (Dens of Equality)
66,930
Commonwealth Games
9,970
Fit for All (Children's Quarter)
1,393
Children in Need (Small Grants)
9,282
Unrestricted Fund
41,005
128,580
Funds at
2020
£
BCC Short Breaks (Dens of Equality)
-
Chatterbox (Children's Quarter)
-
Children in Need (Small Grants)
-
Children in Need Main Grants)
-
Coronavirus Job Retention Scheme
-
Harry Payne Charitable Trust
1,000
Unrestricted Fund
8,705
9,705
Analysis of movements in funds as shown in the table above
Incoming
Resources
£
BCC Short Breaks (Dens of Equality)
61,750
Chatterbox (Children's Quarter)
11,149
Children in Need (Small Grants)
24,622
Children in Need Main Grants)
7,497
Coronavirus Job Retention Scheme
5,867
Harry Payne Charitable Trust
-
Unrestricted Fund
22,588
133,473
Outgoing
Resources
£
88,710
1,109
1,393
4,398
30,505
126,115
Movements
in
Funds
as below
£
-
-
-
-
-
(1,000)
11,028
10,028
Outgoing
Resources
£
61,750
11,149
24,622
7,497
5,867
1,000
11,560
123,445
Deferred
Income
£
-
-
-
-
-
-
Transfers
Between
funds
£
-
-
-
-
-
-
-
-
Deferred
Income
£
-
-
-
-
-
-
-
-
Movement
in funds
£
(21,780)
8,861
-
4,884
10,500
2,465
Funds at
2021
£
-
-
-
-
-
-
19,733
19,733
Movement
in funds
£
-
-
-
-
-
(1,000)
11,028
10,028

16

Parks for Play Notes to the Accounts For the year ended 31st March 2022

Details of Restricted Funds:

BCC Short Breaks (Dens of Equality): This funding has been the bedrock of the agency supporting weekend and holiday delivery and partial funding of key managing and fundraising roles.Fit for All

Commonwealth Games : The fund has been awarded to projects in Coventry, Solihull, Birmingham and the Black Country to support the creation of a wide range of inclusive opportunities to help people get active in their local streets and parks.

Fit for All (Children's Quarter): Fit for All is an ongoing Children's Quarter programme in which community groups, schools, charities, and volunteers work together cooperatively to create inclusive school holiday opportunities for disabled and vulnerable children and young people in Birmingham - particularly those who are eligible for Free School Meals. The programme is grant funded by Street Games in Birmingham with HAF (Holiday Activity Funding) from central government.

Chatterbox Masala (Children's Quarter): This project funded restorative specialist opportunities for children and young with a complex range of individual’s needs who had been particularly impacted by the pandemic.

Children in Need (Small Grants): This funding supported an inclusive youth provision which was seen as life saving for some families who had watched their young people regresses through isolation and lose confidence around leaving home and face to face communication

Children in Need (Main Grants): This fund provided opportunities in music and arts which allowed disabled young children to flourish and to access other linked community opportunities

Coronavirus Job Retention Scheme : This is a government wage support measure, designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic.

Harry Payne Charitable Trust: This funding supported the delivery of the Blue Moon Halloween event.

9 Share Capital

The charity is incorporated under the Companies Acts and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.

17