## LOVE GLASTONBURY **T R U S T E E S A N N U A L R E P O R T 2 0 2 3** ## TRUSTEES INTRODUCTION With great pleasure, we welcome you to Love Glastonbury’s 2023 Trustees Annual Report. We are a registered charity located in Glastonbury, Somerset, and our mission is to alleviate food poverty and reduce the environmental impact of food waste locally. Our work is more important now than ever before, as the cost of living crisis continues to put a strain on many local peoples’ finances. Over the past year, Love Glastonbury has continued to provide essential services to our community through our Community Pantry and Community Fridge. Both services are free to access and provide food for local people in need, whilst simultaneously reducing the impact of food overproduction on our natural environment. We are proud to have positively impacted the lives of so many individuals and families in our area this year. None of this would be possible without the support of our dedicated team of volunteers and the generosity of our donors and supporters. We are extremely grateful for the time, effort, and resources contributed to Love Glastonbury over the past year. In May 2024 we sadly lost the founder of Love Glastonbury, Gina TyWharton, who had been valiantly fighting cancer for some years. Gina established the community fridge and pantry because she believed that no one in our community should have to go hungry. Her legacy in establishing Love Glastonbury means that her vision lives on, an inspiration to us all. **L O V E G L A S T O N B U R Y T R U S T E E S** ## LOVE GLASTONBURY Love Glastonbury (referred to henceforth as ‘the charity’) is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission for England and Wales. Our Registered Charity Number is: 1198035. ## **O U R T R U S T E E S A T T I M E O F S U B M I S S I O N :** M I R A N D A M I L L A N ( C H A I R ) M A R Y P O W E L L ( T R E A S U R E R ) E L I Z A B E T H P E A R S O N A L I S T A I R L A W L E R J U L I E T D A R N E L L ( A P P O I N T E D 2 9 . 0 2 . 2 4 ) ## **A D D I T I O N A L T R U S T E E S D U R I N G R E P O R T I N G P E R I O D :** G I N A T Y - W H A R T O N ( R E M O V E D 0 6 . 0 5 . 2 4 ) A N T O N Y Z A N G O R A ( R E S I G N E D 2 9 . 0 2 . 2 4 ) C A R O L T A L B O T ( A P P O I N T E D 2 9 . 0 2 . 2 4 - R E S I G N E D 1 8 . 0 7 . 2 4 ) ## OUR CHARITABLE OBJECTIVES 1. The prevention or relief of poverty in Glastonbury by providing items and services to individuals in need and/ or other charities and organisations working to prevent or relieve poverty. 2. To promote sustainable development for the benefit of the public by: a. the preservation, conservation and the protection of the environment and the prudent use of resources; b.the relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities. WHAT WE DO AND WHY ## **O U R M I S S I O N** L O V E G L A S T O N B U R Y E X I S T S T O A L L E V I A T E F O O D P O V E R T Y A N D R E D U C E O U R E N V I R O N M E N T A L I M P A C T F O R T H O S E L I V I N G I N , O R R E S O R T I N G T O , T H E T O W N O F G L A S T O N B U R Y A N D T H E S U R R O U N D I N G E N V I R O N S . ## **O U R W O R K** W E C U R R E N T L Y O F F E R T W O I N I T I A T I V E S T O M E E T O U R O R G A N I S A T I O N A L O B J E C T I V E S : - G L A S T O N B U R Y C O M M U N I T Y F R I D G E – O P E N 9 - 4 E V E R Y D A Y , - L O C A T E D I N F R O N T O F G L A S T O N B U R Y T O W N H A L L . - G L A S T O N B U R Y C O M M U N I T Y P A N T R Y – O P E N T U E A N D T H U F R O M 1 - 3 , L O C A T E D A T T H E T H E E N D O F A B B E Y M E W S ( S I L V E R S T R E E T S I D E ) . ## RESPONDING TO COMMUNITY NEED - Central Glastonbury is one of nine Somerset wards amongst the 10% most deprived nationally, including particularly high rates of unemployment and low income. - According to the government, 4.3 million children in the UK, or 30% of all children, - were living in relative low-income households in 2022/23, after housing costs. This is an increase of 100,000 from the previous year. - A Food Foundation affordability report (2018) highlights that 1 in 4 in the UK are - unable to afford a healthy and balanced diet, as defined by the government’s Eatwell Guide. - The poorest households in the UK (earning less than £15,860) would have to spend - 42% of their disposable income to meet the dietary recommendations outlined in the Eatwell Guide. - The annual rate of UK food and non-alcoholic beverage prices inflation increased to 19.1% in the 12 months to March 2023 – its fastest pace for over 40 years (ONS, 2023). Every year, approximately 100,000 tonnes of readily available and edible food from the UK’s retail and food manufacturing sector is wasted – equivalent to 250 million meals going uneaten (The Grocer, 2020). - This wasted food has a value of over £19 billion a year and would be associated with 36 million tonnes of greenhouse gas emissions (WRAP, 2021). _**We exist to close this negative feedback loop – changing the world one meal at a time!**_ ## LOVE GLASTONBURY IN NUMBERS ## **COMMUNITY FRIDGE** 99 tonnes food O U R C O M M U N I T Y F R I D G E H A S D I V E R T E D O V E R 9 9 T O N N E S O F D O N A T E D F O O D T H A T W O U L D O T H E R W I S E H A V E G O N E D I R E C T L Y T O L A N D F I L L B U T I N S T E A D H A S B E E N R E D I S T R I B U T E D T O P E O P L E L I V I N G I N T H E G L A S T O N B U R Y A R E A . 304 T H I S H A S S A V E D A P P R O X I M A T E L Y 2 4 0 T O N N E S O F C O 2 E M I S S I O N S F R O M F O O D T H A T W O U L D tonnes O T H E R W I S E H A V E E N D E D U P I N L A N D F I L L . CO2 W E C O L L E C T 2 6 D O N A T I O N S P E R W E E K F R O M 7 L O C A L S U P E R M A R K E T S , A S W E L L A S R E C E I V I N G D O N A T I O N S D I R E C T L Y F R O M L O C A L B U S I N E S S E S A N D G R O W E R S . ## **COMMUNITY PANTRY** W E R E C E I V E 1 3 0 K G F R O M F A R E S H A R E P E R W E E K , B U Y I N A D D I T I O N A L S T O C K , A N D R E C E I V E D O N A T I O N S F R O M L O C A L B U S I N E S S E S - W E T Y P I C A L L Y S U P P O R T A R O U N D 6 0 - 1 4 0 C U S T O M E R S P E R W E E K . 41 T H E C O M M U N I T Y P A N T R Y H A S G I V E N O U T M O R E T H A N 5 4 T O N N E S O F F O O D O N O V E R 2 0 0 O C C A S I O N S A N D tonnes M A D E O V E R 5 0 0 D E L I V E R I E S S I N C E W E O P E N E D . food W E H A V E A L S O G I V E N O U T M O R E T H A N 2 , 7 0 0 H O T M E A L S A N D D R I N K S I N T O T A L ! _**A L T O G E T H E R , T H A T ’ S A P P R O X I M A T E L Y 3 4 0 , 6 1 1 M E A L S - E N O U G H T O F E E D A F A M I L Y O F 4 F O R A R O U N D 7 7 Y E A R S !**_ KEY ACHIEVEMENTS 2023 In 2023, Love Glastonbury continued to make a meaningful difference in the lives of our community members. We are proud to report the following key achievements: Expanding our reach and impact: We strengthened our partnerships with other local organisations, including schools, Bridging the Gap foodbank, and churches, to reach more individuals in need and raise awareness about our work. Our social media and promotion efforts also contributed to increased visibility and engagement. Enhancing our pantry operations: We initiated steps to improve the security and efficiency of our pantry space, expand the variety and nutritional value of available food items, and gather user feedback to ensure we are meeting the needs of our community. Strengthening our organisational foundation: We undertook a comprehensive review of our policies to ensure legal compliance and best practices. Additionally, we reevaluated our long-term fundraising strategy to ensure its sustainability and diversity, while also assessing the effectiveness of current fundraising activities. - Expanding access to food support: We proudly established two local satellite pantries at St Johns Infant and St Bens Junior schools, further extending our reach and impact within the community. Providing essential support at Christmas time: We distributed 118 Christmas hampers to local families facing financial hardship. This initiative was made possible by the generosity of our supporters and the dedication of our team. These accomplishments would not have been possible without the tireless efforts of our dedicated team, volunteers, and supporters. We remain deeply grateful for their contributions and unwavering commitment to our mission. **----- Start of picture text -----**
THE COMMUNITY FRIDGE, MAY
2023
Restocked daily, the fridge is open
365 days per year!
**----- End of picture text -----**
**----- Start of picture text -----**
THE COMMUNITY PANTRY, JULY
2023
The Pantry receives food from local
growing projects.
**----- End of picture text -----**
**----- Start of picture text -----**
ST JOHN’S SATELLITE PANTRY, JUNE
2023
Two local schools had bespoke mobile
pantries designed and stocked.
**----- End of picture text -----**
## CELEBRATING OUR VOLUNTEERS At Love Glastonbury, we are incredibly grateful for the invaluable contributions of our volunteers. Their tireless efforts and dedication to our cause have helped us to continue serving our community and making a positive impact in people's lives. Our collection volunteers have been instrumental in ensuring that we have a steady supply of food and essential supplies to distribute. They work hard to collect donations from local supermarkets, and their efforts have helped us ensure the Community Fridge is restocked several times per day. Our fridge guardians and key-holders play a critical role in managing our Community Fridge. They ensure that the fridge is opened and closed every day of the year, and that it is kept clean and safe for use by our beneficiaries. Their commitment and attention to detail are greatly appreciated by our team and the wider community. Our pantry volunteers work diligently to organise and manage our community pantry. They help to sort and store food stock, and ensure that our beneficiaries have access to a wide range of food and essential supplies. Their hard work and dedication have helped us to provide this vital service. Our Fareshare pickup volunteers are instrumental in collecting food donations for the community pantry from our main supplier. Their efforts have enabled us to expand our reach and provide a wider variety of food to our beneficiaries. Finally, our food parcel delivery driver is a key member of our team. They deliver food parcels directly to the doorsteps of those who are unable to leave their homes due to illness, disability, or other circumstances. All of our work has only been possible due to the dedication of our 47 volunteers, who collectively donate approximately 57 hours of their time each week, working out at a massive 2,964 hours this year, to support our work. The kindness and compassion of our volunteers has made a huge difference to the lives of our beneficiaries, and we are incredibly grateful for their contributions. **----- Start of picture text -----**
VOLUNTEERS MEETING, OCTOBER 2022
A number of our volunteers and Trustees pictured at St
Benedicts Church, where we meet for our quarterly
volunteer meetings.
**----- End of picture text -----**
OUR PLANS FOR THE COMING YEAR ## **Volunteer Engagement:** Develop a volunteer appreciation and recognition program Offer volunteer training opportunities to enhance skills and knowledge ## **Develop Pantry Space:** Explore options for pantry space layout to increase security and maximise use of space ## **Website Development:** Review and launch the Love Glastonbury website Ensure integration of online donation systems ## **Schools Outreach:** Establish a satellite pantry at the senior school. Extend the Christmas hamper programme to include the senior school. ## **Community Outreach:** Develop and implement outreach strategies for young families and/or single-parent families. Ensure we are meeting the needs of working people on low income. Outreach to individuals experiencing homelessness or living in non bricks and mortar accommodation. ## **Fundraising Strategy:** Consider diversification of funding to move away from solely relying on trusts and foundations. ## **Raising the Profile of Our Work:** Participate in and organise community events to showcase our work, connect with potential supporters, and foster a sense of community involvement. A HUGE THANK YOU TO OUR DONORS AND SUPPORTERS! At Love Glastonbury, we rely on the generosity and support of our funders to enable us to continue our important work. We are incredibly grateful to all of our funders, whose contributions have helped us to achieve our goals and make a positive impact in the community. This year, we have been fortunate to receive support from a number of funders, including funds distributed by Neighbourly, Somerset Community Foundation, the Fairfield Charitable Trust and a donation from Glastonbury First - a local charity who closed and transferred their assets to us. Their contributions have helped us to reach more people than ever this year. Funding distributed by Neighbourly has supported our ongoing running costs, enabling us to deliver our vital services in the community as well as funding us to establish a satellite pantry at two local schools. We are incredibly grateful for their generosity and commitment to our cause. Somerset Community Foundation has generously supported our core costs, allowing us to deliver our services within the community, namely by paying for pantry top-up costs allowing us to meet growing demand. We are deeply grateful for their support and partnership. The Fairfield Charitable Trust has made a significant contribution to our our running costs through paying our rent for 12 months, which has helped us to meet the rising demand for our services during the cost of living crisis. We are honoured to have their support and trust. Glastonbury First, a local charity that ceased to operate, choose to transfer their remaining assets to us as unrestricted funding, which has supported our operation throughout 2023. We are truly grateful for their support and belief in our work. Finally, thank you to the local businesses and individuals who make regular donations to our cause. We are incredibly grateful for their generosity and commitment to our shared mission. On behalf of everyone at Love Glastonbury, we would like to extend our deepest gratitude to our funders for their support and partnership. Your contributions have helped us to make a real difference in the lives of those we serve, and we look forward to continuing our work together in the future. As a charity registered in the UK, Love Glastonbury is committed to operating in a way that is consistent with our charitable purposes and with the public benefit requirements set out by the Charity Commission for England and Wales. The trustees of Love Glastonbury have a legal duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties. We confirm that in the exercise of our powers and duties, we have had due regard to the guidance on public benefit and have taken it into account as required by law. We have carefully considered the public benefit of our activities and have taken steps to ensure that they are in the best interests of our beneficiaries and the wider community. We regularly review our activities and operations to ensure that they continue to meet our charitable objectives and deliver public benefit in a way that is effective and efficient. We are committed to transparency and accountability, and we welcome feedback from our stakeholders on our activities and the public benefit that we provide. We believe that our work makes a valuable contribution to society, and we remain committed to fulfilling our charitable purposes and delivering public benefit in a way that is consistent with our values and legal obligations. ## SIMPLE FINANCIAL STATEMENT Our financial reporting period is 1st January - 31st December 2023. Our balance brought forward for this reporting period was £11,039 and our closing balance stands at £10,932. In total the charity received in total £29,233 in grants, donations and rent and expended £29,340, this resulted in net payments of £107 for the year. As per our Reserves Policy we are required to build reserves of 3 months operating costs as per the previous financial years' expenditure. As we are a relatively newly-registered charity we have allowed ourselves one more financial year to build our reserves to the requisite level. As of time of report our free reserves equate to approximately 3 months of operating costs. ## **CHARITY REGISTRATION NUMBER 1198035** ## **LOVE GLASTONBURY** ## **INDEPENDENTLY EXAMINED** ## **RECEIPTS AND PAYMENTS ACCOUNTS** **FOR THE YEAR ENDED** **31 DECEMBER 2023** ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CONTENTS** ||Page| |---|---| |Charity information|1| |Independent Examiner's Report|2| |Receipts and Payments Account|3| |Statement of Assets and Liabilities|4| |Notes|5| **LOVE GLASTONBURY** ## **CHARITY INFORMATION** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CHARITY REGISTRATION NUMBER 1198035** ## **The charity’s principal address is:** Richard Whiting House, 9 Silver St., Glastonbury, Somerset, BA6 8BS ## **Names of the charity trustees:** Dr M Millan M E Powell M Ed E Pearson A Lawler J Darnell (appointed 28 Feb 2024) ## **Charity Structure** The charity is constituted as a Charitable Incorporated Organisation (CIO). The charity was registered with the Charity Commission on 23 February 2022. Page 1 ## **LOVE GLASTONBURY** ## **TRUSTEES' ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CHARITY REGISTRATION NUMBER 1198035** ## **Independent examiner’s report to the trustees of Love Glastonbury** I report to the trustees on my examination of the accounts of Love Glastonbury for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Date signed: 18 October 2024 Birgit Kotschi FCCA MAAT Selwood Accounts and Tax Ltd 36 Selwood Road Glastonbury BA6 8HW Page 2 ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **RECEIPTS AND PAYMENTS ACCOUNTS** |**Receipts**
Donations
Grants
Sale of asset
Rent and utilities
Total Receipts
**Payments**
Rent
Fareshares, food grants and Satellite Pantries
Paid staff hours
Insurance
Website, upkeep and governance costs
Sub total
**Asset and investment purchases**
New fridge
Sub total
Total payments
**Net receipts (payments) for the period**
Transfers between funds
Cash funds last year end
Cash funds this year end|**Unrestricted**
**funds**
**2023**
**£**
12,632
1,500
-
-
14,132
-
-
-
170
2,917
3,087
-
-
3,087
11,045
(9,475)
9,362
10,932|**Restricted**
**funds**
**2023**
**£**
-
10,500
-
4,601
15,101
6,600
7,549
10,917
-
-
25,066
1,187
1,187
26,253
(11,152)
9,475
1,677
-|**Total funds**
**2023**
**£**
12,632
12,000
-
4,601
29,233
6,600
7,549
10,917
170
2,917
28,153
1,187
1,187
29,340
(107)
-
11,039
10,932|**Last year**
**2022**
**£**
4,639
17,340
1,000
300
23,279
3,552
2,650
9,761
871
1,293
18,127
-
-
18,127
5,152
-
5,887
11,039| |---|---|---|---|---| Page 3 ## **LOVE GLASTONBURY** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AT THE END OF 31 DECEMBER 2023** |**Unrestricted**
**funds**
**2023**
**£**
**Cash Funds**
Bank accounts
10,932
Total Receipts
10,932
**Assets retained for the**
**charity's own use**
-
-
**Liabilities**
-
-
Miranda Millan - Trustee
Mary Powell
(Trustee)
(Trustee)
On behalf of all the trustees of Love Glastonbury
Date signed: 16 October 2024|**Restricted**
**funds**
**2023**
**£**
-
-
1,187
1,187
-
-|**Total funds**
**2023**
**£**
10,932
10,932
1,187
1,187
-
-|**Last year**
**2022**
**£**
11,039
11,039
-
-
-
-| |---|---|---|---| Page 4 ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **NOTES** ## **1. Particulars of any guarantees given by the CIO** There are no potential liabilities under any guarantee outstanding at the date of the statement of assets and liabilities. ## **2. Particulars of any debt outstanding** There is no debt outstanding at the date of the statement of assets and liabilities which is owed by the CIO and which is secured by an express charge on any of the assets of the CIO. Page 5 ## **CHARITY REGISTRATION NUMBER 1198035** ## **LOVE GLASTONBURY** ## **INDEPENDENTLY EXAMINED** ## **RECEIPTS AND PAYMENTS ACCOUNTS** **FOR THE YEAR ENDED** **31 DECEMBER 2023** ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CONTENTS** ||Page| |---|---| |Charity information|1| |Independent Examiner's Report|2| |Receipts and Payments Account|3| |Statement of Assets and Liabilities|4| |Notes|5| **LOVE GLASTONBURY** ## **CHARITY INFORMATION** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CHARITY REGISTRATION NUMBER 1198035** ## **The charity’s principal address is:** Richard Whiting House, 9 Silver St., Glastonbury, Somerset, BA6 8BS ## **Names of the charity trustees:** Dr M Millan M E Powell M Ed E Pearson A Lawler J Darnell (appointed 28 Feb 2024) ## **Charity Structure** The charity is constituted as a Charitable Incorporated Organisation (CIO). The charity was registered with the Charity Commission on 23 February 2022. Page 1 ## **LOVE GLASTONBURY** ## **TRUSTEES' ANNUAL REPORT** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **CHARITY REGISTRATION NUMBER 1198035** ## **Independent examiner’s report to the trustees of Love Glastonbury** I report to the trustees on my examination of the accounts of Love Glastonbury for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Date signed: 18 October 2024 Birgit Kotschi FCCA MAAT Selwood Accounts and Tax Ltd 36 Selwood Road Glastonbury BA6 8HW Page 2 ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **RECEIPTS AND PAYMENTS ACCOUNTS** |**Receipts**
Donations
Grants
Sale of asset
Rent and utilities
Total Receipts
**Payments**
Rent
Fareshares, food grants and Satellite Pantries
Paid staff hours
Insurance
Website, upkeep and governance costs
Sub total
**Asset and investment purchases**
New fridge
Sub total
Total payments
**Net receipts (payments) for the period**
Transfers between funds
Cash funds last year end
Cash funds this year end|**Unrestricted**
**funds**
**2023**
**£**
12,632
1,500
-
-
14,132
-
-
-
170
2,917
3,087
-
-
3,087
11,045
(9,475)
9,362
10,932|**Restricted**
**funds**
**2023**
**£**
-
10,500
-
4,601
15,101
6,600
7,549
10,917
-
-
25,066
1,187
1,187
26,253
(11,152)
9,475
1,677
-|**Total funds**
**2023**
**£**
12,632
12,000
-
4,601
29,233
6,600
7,549
10,917
170
2,917
28,153
1,187
1,187
29,340
(107)
-
11,039
10,932|**Last year**
**2022**
**£**
4,639
17,340
1,000
300
23,279
3,552
2,650
9,761
871
1,293
18,127
-
-
18,127
5,152
-
5,887
11,039| |---|---|---|---|---| Page 3 ## **LOVE GLASTONBURY** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AT THE END OF 31 DECEMBER 2023** |**Unrestricted**
**funds**
**2023**
**£**
**Cash Funds**
Bank accounts
10,932
Total Receipts
10,932
**Assets retained for the**
**charity's own use**
-
-
**Liabilities**
-
-
Miranda Millan - Trustee
Mary Powell
(Trustee)
(Trustee)
On behalf of all the trustees of Love Glastonbury
Date signed: 16 October 2024|**Restricted**
**funds**
**2023**
**£**
-
-
1,187
1,187
-
-|**Total funds**
**2023**
**£**
10,932
10,932
1,187
1,187
-
-|**Last year**
**2022**
**£**
11,039
11,039
-
-
-
-| |---|---|---|---| Page 4 ## **LOVE GLASTONBURY** ## **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **NOTES** ## **1. Particulars of any guarantees given by the CIO** There are no potential liabilities under any guarantee outstanding at the date of the statement of assets and liabilities. ## **2. Particulars of any debt outstanding** There is no debt outstanding at the date of the statement of assets and liabilities which is owed by the CIO and which is secured by an express charge on any of the assets of the CIO. Page 5