Registered number: 11025298 Charity number: 1181054
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 18 |
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2023
| Trustees | Professor Christopher Evans (Resigned 23 September 2024) |
|---|---|
| Dr Rajan Jethwa (Resigned 23 September 2024) | |
| Professor Alan Palmer (Resigned 16 July 2025) | |
| Dr Hendrik-Tobias Arkenau (Appointed 16 July 2025) | |
| Jane Clarke (Appointed 16 July 2025) | |
| Julian Howard (Appointed 10 October 2023) | |
| Timothy Rebbeck (Appointed 16 July 2025) | |
| Nicola Brentnall (Appointed 10 October 2023, Resigned 13 May 2025) | |
| Sharon Jones (Appointed 10 October 2023, Resigned 22 May 2025) | |
| Sheila Kissane (Appointed 10 October 2023, Resigned 22 May 2025) | |
| Shane Markanday (Appointed 10 October 2023, Resigned 16 July 2025) | |
| David Rees (Appointed 10 October 2023, Resigned 23 September 2024) | |
| Mada Sardar (Appointed 10 October 2023, Resigned 16 July 2025) | |
| Dr Jane Smit (Appointed 10 October 2023, Resigned 13 May 2025) | |
| Company registered number 11025298 Charity registered number 1181054 Registered office Level 39, One Canada Square Canary Wharf London E14 5AB Company secretary Fiona Towlson Accountants Calder & Co Chartered Accountants 30 Orange Street London WC2H 7HF |
Page 1
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements of the Cancer Awareness Trust for the period 1 November 2022 to 31 October 2023.
This Annual Report serves the purposes of both a Trustees’ Report and a Directors’ Report. The Trustees confirm compliance with statutory requirements, the governing document, and the Charities SORP (FRS 102).
Objectives and activities
a. Policies and objectives
Summary of charitable purposes:
To advance public health by providing reliable and accessible information on cancer prevention, diagnosis, and treatment, including the creation of a digital platform for cancer information.
Public benefit statement:
The Trustees confirm that they have had regard to the Charity Commission’s guidance on public benefit when exercising their duties.
Main activities:
The Charity focuses on providing essential, trusted information to the public through a digital interface covering cancer, treatment options, clinical trials, and related resources.
Achievements and performance
a. Main results
The trustees continued raising awareness, building partnerships, and preparing for the platform launch. Development of the fundraising and external engagement strategy accelerated, supported by leading cancer experts. Recruitment of an internal team enabled operational growth and improved capability for delivery.
Financial review
a. Main results
The Charity's income during the reporting year was £877,006 (2022: £256,346). At the the same time resources expended were £823,611 (2022: £260,737). All income during the year related to donations.
The Charity's net funds during the year increasd by £53,395 during the year.
b. Reserves policy
It is the policy of the Trustees that reserves are maintained at a level to finance the future forecast activities of the Charity.
c. Investment policy and performance
The Charity has no investments apart from bank deposits and Trustees currently consider this the appropriate vehicle for holding its funds.
Page 2
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
Structure, governance and management
a. Constitution
The Cancer Awareness Trust is registered as a charitable company limited by guarantee by its Memorandum and Articles of Association dated 23 October 2017. On 7 December 2018 the company was awarded charitable status with the Charities Commission.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of its Memorandum and Articles of Association. The minimum number of Trustees shall be three and there is no maximum number.
c. Risk management
Major risks has been assessed, with systems implemented to mitigate exposure.
Plans for future periods
The Charity plans to expand fundraising activities, strengthen partnerships with cancer and technology organisations, and support full development of the cancer information platform.
Going concern
The financial statements have been prepared on a going concern basis having given due consideration to current and forward projections that consider the challenging fundraising climate as a result of the macro environment.
The Executives have prepared a detailed cash flow forecast for a period of at least twelve months from the date of approval of these financial statements for the company. Having reviewed this and after making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate support to continue in operational existence for the foreseeable future and that the Charity can continue to adopt the going concern basis in preparing the financial statements
Page 3
THE CANCER AWARENESS TRUST (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
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 Trustees' report 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Julian Howard
Mr Julian Howard
(Trustee) Date: 7 January 2026
Page 4
THE CANCER AWARENESS TRUST (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 OCTOBER 2023
Independent examiner's report to the Trustees of The Cancer Awareness Trust ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 October 2023.
Please note the following which should be borne in mind when reading the report below. The charity has suffered a number of changes in the trustees and internal staff over the last couple of years which significantly impacted on its ability to keep up to date accounting records and on its related accounting systems and controls in this period. As a result, this has significantly impacted our work whilst the underlying records were brought up to date. In a number of instances, we have had to accept best estimates of the analysis of expenditure where underlying records were not available, directly caused by the upheavals and changes in trustees and staff, referred to above. Whilst the underlying records do now agree to these accounts, the limitations that we faced should be noted, when considering our report.
Responsibilities and basis of report
As the Trustees of the Company (and its directors 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts 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
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Page 5
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated: 7 January 2026 D J Gallagher ACA
Calder & Co
Chartered Accountants 30 Orange Street
London
WC2H 7HF
Page 6
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2023
| Note Income from: Donations and legacies 2 Total income Expenditure on: Raising funds 3 Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 822,006 822,006 823,611 - 823,611 (1,605) (11,434) (1,605) (13,039) |
Restricted funds 2023 £ 55,000 55,000 - - - 55,000 - 55,000 55,000 |
Total funds 2023 £ 877,006 877,006 823,611 - 823,611 53,395 (11,434) 53,395 41,961 |
Total funds 2022 £ 256,346 256,346 172,070 88,667 260,737 (4,391) (7,043) (4,391) (11,434) |
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 18 form part of these financial statements.
Page 7
THE CANCER AWARENESS TRUST (A company limited by guarantee) REGISTERED NUMBER: 11025298
BALANCE SHEET AS AT 31 OCTOBER 2023
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 10 Net current assets / liabilites Total assets less current liabilities Net assets / liabilites excluding pension asset Total net assets Charity funds Restricted funds Unrestricted funds Total funds |
39,108 408,024 447,132 (408,042) |
2023 £ 2,871 2,871 39,090 41,961 41,961 41,961 55,000 (13,039) 41,961 |
38,394 305 38,699 (51,130) |
2022 £ 997 997 (12,431) (11,434) (11,434) (11,434) - (11,434) (11,434) |
|---|---|---|---|---|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 07 January 2026 and signed on their behalf by:
Page 8
THE CANCER AWARENESS TRUST
(A company limited by guarantee) REGISTERED NUMBER: 11025298
BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2023
Julian Howard
Mr Julian Howard
(Trustee)
The notes on pages 10 to 18 form part of these financial statements.
Page 9
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Cancer Awareness Trust obtained charitable status with the Charities Commission on the 7 December 2018.
The Cancer Awareness Trust 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.
1.2 Going concern
On the basis both that the Charity has the continued support of its Founders and Trustees and its forecasts which are based on the indications of support the Charity has received from other potential donors and the firm funding commitments it has received from others, the Trustees believe that the Charity will be able to meet its commitments for at least the 12 months from the signing of these accounts and therefore the Trustees consider it appropriate to prepare these accounts on a going concern basis.
1.3 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity 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 activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 10
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. Accounting policies (continued)
- 1.4 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
- 1.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Plant and machinery
- 25% Straight line basis
1.6 Debtors
Debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid on a time basis.
- 1.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- 1.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page 11
THE CANCER AWARENESS TRUST (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
1. Accounting policies (continued)
1.9 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.10 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
1.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2. Income from Donations and Grants
| Unrestricted funds 2023 £ Donations 822,006 Grants - 822,006 Total 2022 256,346 |
Restricted funds 2023 £ - 55,000 55,000 - |
Total funds 2023 £ 822,006 55,000 877,006 256,346 |
Total funds 2022 £ 256,346 - |
|---|---|---|---|
| 256,346 | |||
The charity (CAT) received a grant from Seerave which pledges £1,000,000 to be paid to CAT in three instalments commencing on 1 September 2023 to fund specific costs of CAT and therefore are Restricted funds. The terms of the Grant are that it becomes available to spend evenly over that period and so it is reflected in the Income and Expenditure account in that way with any funds received in advance treated as deferred income and released accordingly in later periods.
Page 12
(A company limited by guarantee)
THE CANCER AWARENESS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
3. Expenditure on raising funds
Fundraising expenditure
| Unrestricted funds 2023 £ Entertaining 1,389 Advertising and promotion 31,612 Charitable contributions 142 Patron and Fundraiser expenses 136,040 Venue hire 4,060 Bank charges 1,039 Staff welfare 1,594 Computer and website costs 7,555 Telephone costs 1,158 Consultancy costs 182,508 Printing postage and stationery 294 Nina Lopes embassador expenses 864 Sundry expenses and restricted input vat adjustment 1,436 Subscriptions 2,808 Travelling and subsistence 100,842 Training 6,557 Wages and salaries 171,205 Soho House expenses 95,953 Event costs 39,425 National insurance contributions 15,697 Pension costs 1,761 Depreciation 292 Governance costs - see note 4 19,380 Total 2023 823,611 Total 2022 172,070 |
Total funds 2023 £ 1,389 31,612 142 136,040 4,060 1,039 1,594 7,555 1,158 182,508 294 864 1,436 2,808 100,842 6,557 171,205 95,953 39,425 15,697 1,761 292 19,380 823,611 172,070 |
Total funds 2022 £ - 4,239 - - - 12 549 997 347 113,500 476 - 2,349 630 5,638 532 31,731 - - 3,977 587 171 6,335 |
|---|---|---|
| 172,070 | ||
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THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
3. Expenditure on raising funds (continued)
All support costs relate to raising funds and include above computer, telephone, printing, postage and stationery , travelling and subsistence, depreciation and governance costs.
4. Governance Costs
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Governance costs | ||
| Independendent examination fee | 2,500 | 1,500 |
| Annual accounts (including prior year overaccrual) | 6,000 | 2,750 |
| For assisting with related company secretarial, book-keeping, accounting, VAT, gift aid advice and Charity Commission matters |
10,880 | 2,085 |
| Total governance costs | 19,380 | 6,335 |
5. Charitable activities
Summary by fund type
| Unrestricted funds 2023 £ Development of Platform - research phase - Total 2022 88,667 |
Total 2023 £ - 88,667 |
Total 2022 £ 88,667 |
|---|---|---|
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THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
6. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 171,205 15,697 1,761 188,663 |
2022 £ 31,731 3,977 587 |
|---|---|---|
| 36,295 |
The average number of persons employed by the Company during the year was as follows:
| Employees Trustees |
2023 2 4 6 |
2022 4 - |
|---|---|---|
| 4 |
No employee received remuneration amounting to more than £60,000 in either year.
7. Trustees' remuneration and expenses
During the year ended 31 October 2023, no Trustee expenses have been incurred (2022 - £NIL) .
Page 15
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
| 8. Tangible fixed assets Cost or valuation At 1 November 2022 Additions At 31 October 2023 Depreciation At 1 November 2022 Charge for the year At 31 October 2023 Net book value At 31 October 2023 At 31 October 2022 |
Office equipment £ 1,168 2,166 |
|---|---|
| 3,334 | |
| 171 292 |
|
| 463 | |
| 2,871 | |
| 997 |
| 9. Debtors Other debtors Tax recoverable - gift aid scheme |
2023 £ 39,108 - 39,108 |
2022 £ 11,989 26,405 38,394 |
|---|---|---|
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THE CANCER AWARENESS TRUST (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
10. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 26,828 95,787 4,427 281,000 408,042 |
2022 £ 30,271 12,417 1,058 7,384 |
|---|---|---|
| 51,130 |
11. Summary of funds
Summary of funds - current year
| . | Balance at 1 November 2022 |
Income | Expenditure Balance at 31 October 2023 |
Expenditure Balance at 31 October 2023 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Restricted funds | 55,000 | 55,000 | |||
| General funds | (11,434) | 822,006 | (823,611) | (13,039) | |
| Summary of funds - prior year | Balance at 1 November 2021 |
Income | Expenditure Balance at 31 October 2022 |
||
| £ | £ | £ | £ | ||
| General funds - all funds | (7,043) | 256,346 | (260,737) | (11,434) |
12. Pension commitments
The company contributes to employees defined contribution schemes and the pension charge represents the amounts paid by the company to the funds and amounted to £1,761 (2022 - £587) . There was a balance of £4,227 (2022 - £1,057) outstanding at the balance sheet date.
Page 17
THE CANCER AWARENESS TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
13. Members' liability
The liability of members is limited
Every member promises, if the Trust is dissolved while he or she remains a member or within one year after he or she ceases to be a Member, to pay up to £1 towards.
(a) Payment of those debts and liabilities incurred before he or she ceased to be a Member;
(b) Payment of the costs, charges and expenses of winding up; and
(c) The adjustment of the rights of contributors amongst themselves.
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