OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Dust Project

2024-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

THE DUST PROJECT

(Company Limited by Guarantee)

REGISTERED COMPANY NO. 08822786

CHARITY REGISTRATION NO. 1155728

Independent Examiners Ltd The Grain Store Hills Barns, Appledram Lane South, Chichester, PO20 7EG

1

THE DUST PROJECT
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page 3 Legal & Administrative Information
Pages 4 to 9 Report of the Directors'
Page 10 Independent Examiner's Report
Page 11 Statement of Financial Activities
Page 12 Balance Sheet
Pages 13 to 17 Notes to the Financial Statements

2

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 31ST DECEMBER 2024 LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER 1155728

COMPANY REGISTRATION NUMBER 08822786

START OF FINANCIAL YEAR 1st January 2024

END OF FINANCIAL YEAR 31st December 2024

DIRECTORS AT 31ST DECEMBER 2024 Fraser Higgs Roy Chisnall Sarah Chisnall Thomas Stokely Sarah Higgs REGISTERED ADDRESS Lark Rise Sandy Down Boldre Lymington Hampshire SO41 8PL

DATE OF INCORPORATION 20th December 2013

GOVERNING DOCUMENT

Memorandum and Articles of Association incorporated on 20th December 2013.

BANKERS

HSBC 7B Water Gardens South Gate HARLOW Essex EN11 8EP

ACCOUNTANTS & Independent Examiners Ltd INDEPENDENT EXAMINER The Grain Store Hills Barns, Appledram Lane South, Chichester, PO20 7EG

3

The Dust Project ANNUAL REVIEW 2024

Charity Registration No. 1155728

THE DUST PROJECT - ANNUAL REVIEW 2024

4

Annual Review

The Dust Project was established as a company limited by guarantee on 20th December 2013. Ultimate responsibility for the entity rests with the Trustees. Day-to-day management is undertaken by Sarah Chisnall and Tiffany Stokely, Trustees of the charity.

TRUSTEES

The Board of Trustees meets a minimum of four times per year, with further ad-hoc meetings as required.

OBJECTIVES

Our vision is to help, support, and relieve those in desperate situations of poverty, crisis or hardship, in developing countries and communities suffering the after-effects of war, natural disaster and/or economic frailty. We focus especially on the stability of family units and the safety, nourishment and education of children and vulnerable young adults by providing shelter, food, healthcare, schooling, tuition, and other such charitable services as the trustees may from time to time think fit, as need demands. We are currently focusing on communities in Colombo and Jaffna, Sri Lanka, through the physical construction and refurbishment of a children’s hostel, schools, and family homes, in addition to the support of community businesses, projects and sponsored children.

ACCOMPLISHMENTS IN 2024

Website and Social Media

We are very prominent on social media with over 1200 followers across all platforms. Our videos have had approximately 15,000 views. We have found a wider reach of

THE DUST PROJECT - ANNUAL REVIEW 2024

5

international support and sponsorship through these. Our website continues to be successful both in gaining new followers as well as directly enabling more children to be sponsored. The Child Sponsorship page allows potential sponsors to read the bios of children living in need in our focal communities in Sri Lanka — who either attend a Paalam International School in Colombo or Jaffna, live in the Paalam Children’s Hostel in Jaffna, are connected to a house build (or other project) which we have financed, or are part of our larger community outreach programs such as food parcels. Sponsors are given information about why the child needs support, along with details of his or her family and situation. We have found sponsorship to make a significant and lasting impact in a child’s life, having seen and heard first hand from carers and the children themselves the difference it makes. The children’s basic needs of clothing, medical attention, primary education and nourishment are met, and they feel genuinely supported, encouraged and cared for. This can only make a positive impact on their futures.

The ‘Donate to a Build’ page speaks of those families in our communities who are currently living in completely sub-standard housing, or are currently or soon to be homeless. They are usually in serious need of a home, a well and/or a toilet.

Partnering with Paalam

Things are going well in our partnership with Paalam— a charity based in Sri Lanka. The charity has made a huge impact in Colombo, but even more significantly in Jaffna. Through our collaboration, they have been able to receive donations through The Dust Project’s website and co-ordinate, distribute and oversee the child sponsorship program. We have had over 200 children sponsored through this program.

Since our partnership, we have been able to build or help complete 35 houses for various families living in appalling conditions. We also continue to build wells (21 to date) and toilets (30 to date) as need demands.

Fundraising

We remain deeply grateful to our supporters for their continued generosity. Thanks to the funds we received in 2024, we were able to achieve the following:

THE DUST PROJECT - ANNUAL REVIEW 2024

6

Beyond these projects, we continued to support more than 100 children through our child sponsorship programme. We also extended assistance to teachers facing financial challenges brought about by rising fuel costs and inflation in Sri Lanka.

In April, we funded urgent repairs at Paalam Children’s Home in Jaffna, provided new windows and building repairs at our Wattala school, and completed landscaping at the Jaffna school grounds. We also funded the construction of two homes for families in need. Through the generosity of our sponsors, two bicycles were gifted to children, and musical instruments were purchased for a local school. Additionally, we supported a family experiencing severe hardship due to illness.

In July, our valued partners from the Ware Inner Wheel Club donated funds for new playground equipment at the Wattala school.

In September, we financed the construction of another home in Jaffna and supported a computer project at a local school.

In November, we funded an additional house in Jaffna and provided resources to paint two previously completed homes. We also sponsored professional development for 24 staff members across Jaffna and Wattala schools, enabling them to complete updated ACE teacher training.

In December, we raised over £4,000 for flood relief efforts. With these funds, we distributed food parcels and medical supplies to families affected by flooding in Jaffna.

Mission

Although we were unable to carry out a mission trip in 2024, we are excited to announce that a mission trip is planned for February 2025. During this trip, volunteers will join us in building a new home for a family in Jaffna.

7

THE DUST PROJECT - ANNUAL REVIEW 2024

Finance

As a charity, we continued to support Paalam International School, New Living Flame Church, Paalam Project and Paalam Children’s Home. All four organisations are under the Paalam Charity, and in total we donated £173,155.49.

The Future

In 2025, we will be taking a team of women to Jaffna to assist local builders with the construction of a new home for Jermila and her family. Jermila is a single mother of three children who are currently living in unsafe conditions in a shack made of tin and tarpaulin on the edge of a field. With an eviction order in place, the family urgently needs secure housing. While the construction of their house is already funded, we are raising additional funds to provide essential finishing touches — including painting, electricity, and furniture — to transform the building into a true home.

We also plan to contribute towards several much-needed cataract surgeries and to support local women through small business projects, empowering them to build sustainable livelihoods. More details will follow in the coming year. In addition, we will continue our commitment to providing educational support for children, distributing food parcels, and constructing safe, permanent homes for families in need.

Finally, we are actively seeking new corporate sponsors to help us raise the necessary funds to build our new school in Wattala, which will serve as a cornerstone of hope and opportunity for the community.

THE DUST PROJECT - ANNUAL REVIEW 2024

8

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE DIRECTORS (continued) THE DUST PROJECT FOR THE YEAR ENDED 31ST DECEMBER 2024 (A COMPANY LIMITED BY GUARANTEE)

The Directors take pleasure in REPORT submitting OF their THE report DIRECTORS and financial (continued) statements for the year ended 31st December 2024. A more FOR THE detailed YEAR report ENDED can 31ST be DECEMBER accessed from 2024 web site The Charity Commission - GOV.UK

Charitable Objects 31st December 2024. A more detailed report can be accessed from web site The Charity The Charity's Commission Objects are - GOV.UK for public benefit and are restricted to the following: The relief of poverty and hardship among children and young people living in developing communities in such parts of Charitable Objects the World by The the Charity's provision Objects of shelter, are for public food, benefit health, and are education restricted and to the other following: such The charitable relief of poverty services as the trustees and may hardship from among time children to time and young think people fit living in particular in developing through communities the in construction such parts of and refurbishment of orphanages, schools and accommodation. the World by the provision of shelter, food, health, education and other such charitable services as the trustees may from time to time think fit in particular through the construction and refurbishment of orphanages, schools and accommodation. Statement of Director's responsibilities: Company law Statement requires of the Director's directors responsibilities: to prepare financial statements for each financial year which gives a true Company and fair law view requires of the the state directors of to affairs prepare of financial the company statements and for of each the financial profit year or loss which of the gives a true and fair view of the state of affairs of the company and of the profit or loss of the company during that period. In preparing those financial statements the directors are required to: company during that period. In preparing those financial statements the directors are required to: (i) select suitable accounting policies and then apply them consistently, (i) select suitable accounting policies and then apply them consistently, (ii) make judgements and estimates that are reasonable and prudent, (ii) make judgements and estimates that are reasonable and prudent, (iii) prepare financial (iii) prepare statements financial statements on a going on a going concern concern basis basis unless unless it it is is inappropriate inappropriate to presume to presume that that the company will continue in business. the company will continue in business.

The directors accuracy are responsible at any time for the keeping financial position proper of accounting the company records and to enable which them disclose to ensure with that reasonable the accuracy at financial any time statements the financial comply position with the of the Companies company Act and 2006. to They enable are them also to responsible ensure that for the safeguarding the assets of the company and hence for taking reasonable steps for the prevention financial statements comply with the Companies Act 2006. They are also responsible for and detection of fraud and other irregularities. In preparing this report the directors have taken safeguarding advantage the assets of special of the provisions company of the and Companies hence for Act 2006 taking relating reasonable to small companies. steps for the prevention and detection of fraud and other irregularities. In preparing this report the directors have taken I approve the attached statement of financial activities and balance sheet for the period ended 31st advantage of special provisions of the Companies Act 2006 relating to small companies. December 2024, and confirm that I have made available all information necessary for its preparation. I approve the attached statement of financial activities and balance sheet for the period ended 31st December 2024, and confirm that I have made available all information necessary for its preparation. Signed on behalf of the Board by «nrc ceeeseeseesnesessey SAPAh Chisnall, Director/Company Secretary Signed on behalf Date 2 of the lalzozs Board by ………………………………………………, Sarah Chisnall, Director/Company Secretary

Date ……………………………………………………………………………………………….

9

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS

I report to the charity trustees on my examination of the accounts of The Dust Project for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s Trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

• the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed :

Date : 25.9.25

K Gomes FCIE MAAT Independent Examiners Ltd The Grain Store, Hills Barns Appledram Lane South,Chichester,West Sussex PO20 7EG

10

THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

Incorporating income and expenditure account

Notes
Donations and Legacies
3a
Trading Activities
3b
Other Income
3c
TOTAL INCOMING RESOURCES
EXPENDITURE ON:
Charitable Activities
4a
TOTAL RESOURCES EXPENDED
NET INCOMING/ (OUTGOING) RESOURCES
Balances Brought Forward
TOTAL FUNDS CARRIED FORWARD
INCOME AND
ENDOWMENTS FROM:		 Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
102,318
88,901
191,219
119,593
-
6,436
6,436
-
1,440
-
1,440
1,710
103,758
95,337
199,095
121,303
99,657
96,629
196,286
149,893
99,657
96,629
196,286
149,893
4,101
-1,292
2,809
-28,590
16,458
7,728
24,186
52,776
20,559
6,436
26,995
24,186

Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.

The notes on pages 13 to 17 form part of these financial statements.

11

THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31ST DECEMBER 2024 BALANCE SHEET

Unrestricted Restricted
2024
2023
Funds
Funds
Total
Total
Unrestricted
Restricted
2024
2023
Funds Funds
Total
Total
Note £ £
£
£
Fixed Assets Note £ £
£
£
Current Assets
Fixed Assets
Debtors
Cash at bank and in hand
Current Assets
Debtors
Cash at bank and in hand		 8
6
8
6		 -
21,669
=
21,669		 -
-
-
6,436
28,105
25,086
°
:
-
6,436
28,105
25,086
Total Current Assets
Total CurrentAssets		 21,669
~~21,669~~		 6,436
28,105
25,086
~~6,436~~
~~28,105~~
~~25,086~~
Creditors:
Creditors:
amounts falling due within one yea
amounts falling due within one yet		 7
7		 1,110
1,110		 -
1,110
900
-
1,110
900
NET CURRENT ASSETS
NETCURRENTASSETS		 20,559
20,559		 6,436
26,995
24,186
6,436
26,995
24,186
TOTAL ASSETSless current liabilities
TOTALASSETS less current liabilities		 20,559
20,559		 6,436
26,995
24,186
6,436
26,995
24,186
NET ASSETS
NETASSETS		 20,559
~~20,559~~		 6,436
26,995
24,186
~~6,436~~
~~26,995~~
~~24,186~~
Funds of the Charity
General Funds
Restricted Funds
Funds ofthe Charity
General Funds
Restricted Funds		 5
5		 20,559
-
20,559
-		 -
20,559
16,458
6,436
6,436
7,728
-
20,559
16,458
6,436
6,436
7,728
Total Funds ~~20,559~~ ~~6,436~~
~~26,995~~
~~24,186~~
Total Funds 20,559 6,436
26,995
24,186

For the section period 477(2) ended of 31st the Companies December Act 2024 2006 the relating company to small was companies. entitled to exemption from audit under

section 477(2) of the Companies Act 2006 relating to small companies.

Directors' responsibilities: « The members have not required the charity to obtain an audit of its accounts for the year in • The members question in accordance have not required with section the 476; charity and to obtain an audit of its accounts for the year in ¢ The directors acknowledge their responsibilities for complying with the requirements of the Act question in accordance with section 476; and • The directors with respect acknowledge to accounting their records responsibilities and the preparation for of complying accounts. with the requirements of the Act

with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 13 to 17 were approved by the trustees, and authorised for issue on 25 } 4 }25 and signed on their behalf by: The financial statements on pages 13 to 17 were approved by the trustees, and authorised for issue

on ____ and signed on their behalf by:

Signed on behalf of the Board by ………………………………………………, Sarah Chisnall, Director/Company Secretary

12

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

1. ACCOUNTING POLICIES

Incoming Resources

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

▪ the charity becomes entitled to the resources;

▪ the Directors are virtually certain they will receive the resources; and

▪ the monetary value can be measured with sufficient reliability

Incoming Resources with related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Contractual Income and Performance Related Grants

This is only included in the SOFA once the related goods or services has been delivered.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer Help

The value of any voluntary help received is not included in the accounts but is described in the Directors' annual report.

Investment Income

This is included in the accounts when receivable.

Investment gains and losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and liabilities

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the Directors' meetings and cost of any legal advice to Directors on governance or constitutional matters.

13

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

Grants with performance conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants payable without performance conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources, e.g. allocating property cots by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Assets

Tangible fixed assets for use by the charity:

These are capitalised if they can be used for more than one year, and cost at least £2,500. They are valued at cost or, if gifted, at the value to the charity on receipt. The Charity at present holds no assets which cost above this figure.

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at Directors' best estimate of market value.

Basis of preparation:

The financial statements are prepared on the historical cost basis convention (as modified to include the revaluation of investments) in accordance with the Charities Act 2011, "Accounting and Reporting by Charities" (SORP 2015), applicable accounting standards and the Companies Act 2006. The accounts have been prepared on a going concern basis. The charity meets the definition of a public benefit entity under FRS 102. The Charity has claimed exemptions available in Section 1a of FRS 102 not to prepare a cash flow statement since it is a small charity.

2. TANGIBLE FIXED ASSETS

The Company owns no fixed assets

There are no obligations under hire purchase contracts or leases.

14

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

Notes
a) Donations and Legacies
Donations
School Donations
House Building Project
Child Sponsorship
Tax Recoverable
b) Trading Activities
Profit from Fund Raising Events
c) Other Income
Stewardship
4. EXPENDITURE ON:
a) Charitable Activities
Sponsorship :
Home building Project
5
Palaam Project
Palaam School
5
New Living
Support for Child Sponsorship
Advertising
Computing, Software, and Web Site
Gifts, Donations
Bank Charges
Printing & Postage
Professional Fees
Shipping and Carriage
Miscellaneous
Accountancy
Independent Examination Fees
Overseas Travel
3. INCOME FROM DONATIONS &
ENDOWMENTS		 Unrestricted Restricted
TOTAL
TOTAL
Funds
Funds
2024
2023
£
£
£
£
41,306
-
41,306
75,809
2,260
80,240
82,500
-
-
8,661
8,661
-
31,450
-
31,450
23,526
27,302
-
27,302
20,258
102,318
88,901
191,219
119,593
-
6,436
6,436
-
1,440
-
1,440
1,710
12,237
16,389
28,626
18,000
13,000
-
13,000
20,760
15,100
80,240
95,340
52,442
18,659
-
18,659
4,704
25,877
-
25,877
26,466
0
-
0
412
280
-
280
303
6,000
-
6,000
17,091
495
-
495
495
121
-
121
54
5,186
-
5,186
0
258
-
258
160
-
-
-
608
643
-
643
438
930
-
930
900
871
-
871
7,060
99,657
96,629
196,286
149,893

15

THE DUST PROJECT (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

5. RESTRICTED FUNDS
House Building Project
Paalam School
Flood Relief
Prior Year
House Building Project
Paalam School
6. CASH AT BANK AND IN HAND
Current Account		 Balance
01/01/24
7,728
-
-		 Balance
Income
Expenditure
Transfers
31/12/24
8,661
16,389
-
80,240
80,240
-
6,436
-
6,436
7,728 95,337
96,629
-
6,436
Balance
01/01/23
9,728
-		 Balance
Income
Expenditure
Transfers
31/12/23
16,000
18,000
-
7,728
6,435
6,435
9,728 16,000
18,000
-
7,728
Funds
Funds
2024
2023
Total
Total
£
£
£
£
21,669
6,436
28,105
25,086
21,669
6,436
28,105
25,086

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Independent Examination Fees
Creditors
8. DEBTORS AND PREPAYMENTS
Debtors		 Unrestricted
Restricted
2024
2023
Funds
Funds
Total
Total
£
£
£
£
930
-
930
900
180
-
180
0
1,110
-
1,110
900
Unrestricted
Restricted
2024
2023
Funds
Funds
Total
Total
£
£
£
£
-
-
-
-
-
-
-
-

16

THE DUST PROJECT

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

9. STAFF COSTS, DIRECTORS AND OTHER RELATED PARTIES

No payments were made to directors or any persons connected with them during this financial period, other than reimbursements. No material transaction took place between the organisation and a director or any person connected with them.

10. RISK ASSESSMENT

The directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The directors have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

11. RESERVES POLICY

The directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The directors will endeavour not to set aside funds unnecessarily.

12. PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

13. SHARE CAPITAL

The Charitable Company is limited by guarantee with each of its members liable to contribute one pound sterling in the event of it being wound up.

17