TUCKERS HALL EXETER UMrrED
(Limited by Guarantsel
UNAUDrrED HNANCIAL STATEMEKrs
Year End•d 31 March 2025
CHARrrY NUMBER 291764
COMPANY NUMBER 01885692

TUCKERS HALL EXETER UMrrED
YEAR ENDED 31 MARCH 2025
Page
Legal and Administrativ8 Information
Trustees, Report
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Fin8neial Statements
9-14

TUCKERS HALL EXEtER UMThED
LEGAL AND ADMINISTRATIVE INFORMATION
TrUSTEESIDIRECTORS
N Hole lappoinied 12 September 20241
HR Parkin Iresigned 12 Sèptember 20241
IT Gardner
N Sprague
Fl Marsh
J Brookes
SECREfARY & CLERK
R Thomas (resigned 31 May 20241
R Whitson lappoint8d 31 May 20241
REGISTERED OFFICE
Tuckers Hall
140 Fore Str8et
Exeter
Devon
EX4 3AN
INDEPENDEKf EXAMINER
C Dymond FCCA, ACA, cfA
Str8ets Bush Limited
2 Barnfield Crescent
Exetér
EXI IQT
BANKERS
Lloyds Bank PIC
High Street
Exeter
soucrroRS
Mi¢helmores LLP
Woodwater House
nes Hill
Exeter
EX2 5WR

Tua(ERS HALL EXEfER UMrrED
TRUSTEES. REPORT
YEAR ENDED 31 MARCH 2025
GOVERNANCE
This report also serves as a directors, report as required by company law.
The Company was incorpor8ted in England and Wales on 13 February 1985 and is limited by
guarantee under Company number 1885692. It is a registered Charity under number 0291764 and
is governed by its Memorandum and Articles of Association.
The directors of the charitable company Ilhe Charity'l are its trustees for the purpose of Charity L8W
and throughout this report are collectively referred to as the trustees. Trustees are appointed by the
members of th8 charitable company attending the Annual General Meeting. Each year one third of
the trustees retire from office but are eligible for re-eleetion. The number of truslees shall not b8
less than 5 nor more than 7.
The five Tru$tee$ delegate decisions to an Executive Committee of tho Incorporation of Weavers
Fullers & Shearmen who are appointed annually. All administration functions are carried out by the
Clerk.
The Trustees are appointed from The Court of Assistants who consist of prominent local business
people who b￿ame Assistants by invitation and are provided with a fvll history of th8 Charity, its
objectives and management procedures.
PUBUC 8ENEFIT STATEMENr
The Trustees have reviewed the outcomes and achievements of our objectives and activities for ihe
year, io ensure they remain focused on our charitable aims. and conlinue to deliver benefits to the
public. We hav8 complied with the duty under the Charities Act 2011 to have due regard to public
benefit guidance published by the Commission.
OWECTS AND ACTivmES
The main objgcts of the Charity are:
The maintenance and restoration of the medieval Hall known as Tuckers Hall of Exeter.
Betterment of the facilities at thè Hall io encourage wider access and to extend the
educational role of the premi$e$.
Maintain the historical link$ and connections with the Crty of Exeter including attending Civic
Processions.
Tuckers Hall represents a rare surviving building that can be identified with a trade that was of hug8
importance to Exeter and Devon.
Tuek•rs Hall was buitt between 1472 and 1479 as a chapel for the Guild of woollen cloth workers in
Exeter. It is part of the story of the woollen cloth trade in Exeter, which made the city wealihy and a
cenlre for international trade from the 1430s until the end of the 18ih century.
By 1700 Exeter w8S the third most important city outside London. following 8ristol and Norwich
this importance based on the woollen cloth trade. The chapel was built on a plot of18nd given to the
Guild. which developed the neighbouring properties uphill and downhill. The building has a fkne
wagon roof. It was converted into a hall for the Guild at the Reformation. to avoid its being
confiscated. Guild meetings were probably held in the chapel from the outset.

TUCKERS HALL EXETER LIMITED
TRUSTEES. REPORT Icontinuedl
YEAR ENDED 31 MARCH 2025
After the Reformation the building was divided into two storeys 8nd the upper room was used for
meetings of the Guild. This use has continued ever since and the Guild, known as The
Incorporation of Weavers, Fullers and Shearmen. which survives in an ad8Pted form, still uses the
building for meetings today. The records of the organisation survive, carefully Catalogued and
deposited in the Devon Record Office. They make significant contribution to the documèntary
history of the city of Exeter. In the 17th century the upper room was refurbished with high-quality
ornamental panelling. There was a school for the children of the cloth-workers on the ground floor
from the18te 17th century until 1841.
After the decline of the Exeter wooll8n cloth industry in the lale 18th century. membership of the
Guild broadened in terms of occupalion and the organisation became one that dispensed funds
from various charities it administered. Many of the major figures in Exeter's history held office in
the Guild. The building was the cause of major concern in the 19th century and ihe front wall was
rebuilt this was in Venetian Gothic style in 1875. In 1901 the upper room was thoroughly
r8furbished. includlng re-exposing the chapel roof. which had been largely concealed by plaster. A
few years lai8r a fine n9W Staircase in a late 17th century style w8s installed. a good 8xampl8 of local
craftsman8hip of the period.
In the latter half of the 20th century, looking after the building and its history has been the main
preoccupaiion of the Guild. In 1968 the Guild commissioned Joyce Youings to write an academic
PLtblication on the history of the Guild and the building. This useffijl study painted a detailed and
wide-ranging picture of the Guild and its memberg.
FINANCIAL REVIEW
Unre8tri¢ted income in total was £70,768 12024: £55,494) and th1$ w88 used to cover the running
¢osts of the hall and administration ¢osts of £40.00512024.' £44,174) excluding depreciation of £9,056
12024.. £9,9051. Coupled with gainslldeficitsl on invègtments of 1£6,601112024: £12,368 gain), net
income for the year was £15.10612024: £13.7831.
Restrirted income of £2.975 was received during the year. £1.597 of the restricted funds were used
during the year, leaving £1,378 to add to restricted funds and carry forward towards intern costs.
ACHIEVEMENTS AND PERFORMANCE
The renovation and development of Tuckers Hall has Continued and its Interpretatlon C8ntre to
attract visitors from all over the vmrld.

TUCKERS HALL EXEtER UMrtED
TrUSTEES' REPORT I￿ntinued)
YEAR ENDED 31 MARCH 2025
Tuckers Hall Interpretation Centre Synopsis
0￿ECTIVEs
To display the origins, history and development of the Incorporation of Weavers, Fullers and
Shearmen IIWFSI.
To explain the features of Tuckers Hall and its use as a chapel, meeting place and 8
schoolroom.
To put in context ihe significance of the cloth trade and its impact on the prosperity of
Exeter.
To establish a learning centre for schools and educational projects,. for indlvidu81 ￿udentS
and the public.
The Intérprgtation Centre occupieg the Entrance Hall and Lower Hall and will 8chiev8 the objectives
bv..
An audiolvisual DVD presentation with $ubtitle$ and an induction loop,. with removable
theatre style seating.
Computer screens with tracker balls. interactlvely displaying tho history of the Hall, the
Incorpor81ion and the cloth trade, with links to other, associated historic $iles in Exeter and
the surrounding area.
Graphic boards illustrating the chronology of the In¢orporation and th• Hall,
Disp18y cases with the Officers, Robes and associatèd artefaots.
Tuekers Hall is an historic listed building which dates back to 1471. The timber '8arrel' Roof 18
original 8nd 8 very sp8cial fe81ure of the building.
Thg Charity's policy on reserves Is to m8int8in a $uffi¢ignt level of resources In order to malnialn
Tuckers Hall and deal with unexpected expenditure on repairs and restoration that is often a fealure
of such old buildings, and to increase those reserves if possible. We aim to hold unreslricted
reserves of approximately £100.000 to cover18rg8 on8 off r8pairs. Any excess reserves are invested
to provide returns that will cover general r8pairs to Tuckers Hall should fulure donations not be
sufficient. At the year end total reserve$ amounted to £466,489. Of this, £13,007 was held in tangible
fixed assets, £258.035 in heritage assèts. and £4.040 in restricted funds. This1oave$ £191,407 of f ree
reserves as at the ygar end12024: £166.1241.
As well as the flnanci81 risk referred to above. the major risk to which the Charity is exposed is fire
Iyamage to the Hall. In order to reduce the risk the following preventativ8 action has been taken..
Fire alarm connected to monitoring centre and fire service.
Flewiring of part of electrical installation and regular testing of electrical system.
Installation of burglar alami system connected to call centre.
Reviewing and increasing insurance cover.

TUCKERS HALL EXETER LIMITED
TRUStEES' REPORT l¢ontlnuedl
YEAR ENDED 31 MARCH 2025
Forming property sub-committee to supervise all matters relating to the building. This sub.
Committee is currently undertaking a full review of the condition of the building.
RELATED PARTIES
The Charlty has common Trustees wlth Weavers Fullers and Shearmen Charitigs Limited Icharity
number 10521241. Both charities were set up by the Incorporation of Tuckers Hall.
STATEMENT OF TRUSTEES RESPONSIBILtnES
Company law requires the trustees to prepare financial statements for each financial year which
show a true and fair vi6w of the stale of affairs of the Charlty and its financial activities for that
period. In preparing those financial statements. the trustees are required to:
select suitable accounting policies and then 8pply them con$i$tently:
make judgements and estimates that are reasonabl8 and prudenl;
State whether applicable 8ccounting standard$ and statements of recommended practice have
been followgd subject to any departures disclos&J and explained in the financial statements..
and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the Charity will ¢ontinue in operation exi$ten¢a.
The trustees are responsible for keeping proper accounting records which disclose wilh reasonable
accuracy at any lime the finaneial position of the Charity and to enable them to ensure that the
financial siaiements comply with the Companies Act 2006 and the Charities Act 2011. The trusiees
8re also responsible for safeguarding the assets of the Charity and hgncè for taking reasonable sleps
for prevention and detection of fraud and other irregularities.
STATUS OF REPORT
This report, whieh h88 been prepared in accordance wih the special provisions of Part 15 of the
Companies Act 2006 relating to small ¢ompanies. was approved by the Board on
..3ol.o.S.1.2.5... .....
and signed
behalf.
N Sprague IDire¢torl
R Marsh (Dlrertorl

INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF
TUCKERS HALL EXEfER UMrrED
I report on the accourrts of the Charity for the year ended 31 March 2025. which are Set out on p8ges
7t014.
Respective Responsibllltles of Tntstees and Examiner
The trustees Iwho are also the directors of the company for the purpos89 of company lawl are
responsible for the preparation of the accounts in ac*ordance with the requirements of ihe
Companies Act 20061'the 2006 ACVI. The charity's twstees consider that an audit is not required for
this year under Section 144121 of the Charities Act 2011 Ithe 2011 Act) and that an independent
examination is needed.
Having satisfied myself that the Charity is not subject to audit under Part 16 of the 2006 Act and is
eligible for an independent examination it is my responsibility to:
examine the accounts under séction 145 of the 2011 Act:
to follow th8 procedures laid down in the General Dlrections given by the Charity
Commission under section 14515llbl of the 2011 Act; and
to state whether particular matters have come to my attentlon.
Ba$1$ of Independent Examinerfs Roport
My examination w85 carriad out in accordance wth the General Dlrectlons given by th8 Charitv
Commission. An examination includ89 a review of the a￿UntIng records kept by the charity and a
compari80n of the accounts presented with those records. It also includes consideration of anv
unusual items or disclosures in Ihe accounts, and the seeking of explanations from you as trustees
concerning 8ny Such matters. The procedures undertaken do not provide all the evidence that
would be requirod in an audit and, consequently, no opinion 1$ given 8$ to whether the 8ceount$
present 8 'true and lair view" and the report is limited to those matt6rs set out in thè statement
below.
Independent Ex4mlnor's Ststement
In connection with my examination. no matter has come to my attention..
which gives me reasonable cause to belleve that. in any material respect. the requirements
to keep accounting records in accordance with section 386 of the Compani8$ Act
2006,. 8nd
bl
to prepare a¢¢ounts which accord with the accounting records. comply with the
accounting requirements of section 396 the Companies Act and with methods and
principles of the Statement of Recommended Practice Accounting and Reporting by
Charities
have not been met or to which, in my opinion, attention should be drawn in order to enable
a proper underst8nding of the accounts to be reached.
C Dymond FCCA. ACA CTA
Stregts Bush Limited
Chartered Accountants
2 Barnfield Crescent
Exeter
EXI IQT

TUCKERS AALL EXETER UMITED
STATEMENT OF RNANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDrruRE Accoupm
YEAR ENDED 31 MARCH 2025
2025..._........_
2024 Total
Unr&strlct8d
Fundl
Fund
Fund
Total
INCOME FROM
Donations ond Lagael•s
Gifts, donations and lax recovered
Dividend income
Grant income
Interest income
Charitable Actlvltl88'.
Hlre of hall
61.153
3.879
61.153
3.879
2.975
1.007
42,861
3,791
3,052
1,024
2.975
1.007
4.729
4.729
7,81B
Total Incom•
70.768
2.975
73.743
58.546
EXPENDITURE ON
Charltable Activitlos:
Pmvision olH8H.'
In8ur8nce
Light and heat
Rates and water
General repairs
Telephone
Oepre¢iation
Sundry expenses
Support Cosm"
Fees lor Indop8nd8nt Examinètion
8eadle's leo$
Cl$rk's foes and administrations •$$istant
Intèrn Costs
Leoal and profession81 fet¥
Advertislng
Postage and stationery
Charitable ¢Jonaiions
Computer and websit¢ $xpenses
11,809
2.627
623
S,571
11,809
2,627
623
5.571
563
9,056
10,684
3.694
56
3,279
1,S27
9,905
1.720
9,056
3,209
8.773
3,209
8,773
I,OC*)
1.597
2.694
3,429
8,192
1,000
1,772
3,375
2,S12
1,850
1.597
158
158
1,000
1,032
1.032
2.856
Total Expendhurn
49,061
1.597
50,658
55,851
NET ILOSSESIIGAINS ON INVESTMETr
16.6011
16,6011
12,368
NEf INCOMEIIEXPENOITUAEI
15.106
1.378
16.484
15,063
Transfers between funds
1.280
11.2801
NET MOVEMEpif IN FUNDS
16,386
98
16.449
15,118
Reconciliation of fvnds:
Total funds broughi I0￿￿rd
446,063
3,942
450,005
434,942
FUND BALANCES CARRIED FORWARD
462.449
466,489
450.005
The r)otes on pages 9 to 14 form part of these financial statements.

TUCKERS HALL EXETER UMrrED
IREGISTERED NUMBER: 18856921
BALANCE SHEEr
AS AT 31 MARCH 2025
FIXED ASSErs
Tangible assets
Heritage assets
Invastment5
13.(KJ7
258.035
135.079
15,273
264,666
141,680
406.121
421.619
CURRETrTh ASSErs
Debtors
Deposlt aecount
Cash in bank eurrent account and in hand
19.115
21.038
24.298
19,475
21,039
10,129
64.451
50,643
CREDITORS.. Due withln one ￿ar
22,257
NET CURRENT ASSErs
28.386
ASSETS
450.IXJ5
RESERVES
Restricted funds
Unrestricted fund8
10
10
3,942
446,063
462.449
450,005
The company is Bntitled to exemption from audit under the Ch8riti86 Act 2011 8nd Section 477 of the
Componies 2006 for the ye8r ended 31 March 2025.
The members have not required ihe company to obtain 8n audit of its financial statements foi the yèar
ended 31 Ma￿h 2025 in accordance with tho Charities Ath 2011 and Section 476 of th8 Companies Act
2006.
Th8 directors aeknowledge th8ir responsibilities for:
ensuring ih8t the company keeps accounting records which comply with Sections 386 and 387 of
the Companie$ Act 2006 and
preparing fin8ncial statements which give a true and fair view of the ￿atts of affairs of the
company as at the end of èaeh financial year and of its profit or loss for each financial year in
accordance with ihe requir&m8nts of Sections 394 and 395 8nd which otherwise comply with the
requirements of the Compani9$ Act 2(NJ6 relating to financial ststemenls, so far as applicable to
the company.
bl
The financial ￿alernents have been prepared in aecordanee wf(h the provisions applicable to
companies subject to the small companies regime.
statements were approved by the bo8rd of trustees on ...>lo.5.1.2.5............. and were
Thefi
sign
prague I
rectorl
R Marsh (Director)

TUa(ERS HALL EXETER UMrfED
NOTES TO THE UNAUDftED HNANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
ACCOUPlllNG POUCIES
Acwunting Convention
The financial statements of the charitable company, which is a public benefit enlity under
FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting
and Reporting by Charities= Statement of Recommended Practice applicable to Charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in
Ihe UK and Rgpublic of Ireland IFRS 1021 leffectiv8 l January 20151,. Section 1A 'Small
Entities- of Financial Reporting Standard 102 The Financial Reporting Standard applicable
in Ihe UK and Republic of Ireland. and the Companies Act 2006. The financial statements
have been prepared under the historical cost convention with the exception of investments
which are included at market value.
Flnanclal Reporting Stsndavd 102- roduced disdosurg exemptions
The charity has taken advantage of ihe exemption of the requirements of Section 7
Statements of Cash Flows in preparing these finaneial statements. as permitted by FRS 102
'The Financial Reporting Standard in the UK and Republic of Ireland,
Golng Coneem
The fln8nei81 statemen1$ have been prepared on a golng ¢on¢ern ba$1$ 8$ ihere are no
material uncertainties about the charity's ability to continue operating.
Recognition of InMme and Expendhure
Income is included in th6 financial ￿ateMentS when it is raceived except for donations under
gift aid which are grossed up to include the income tax recoverable and the hire of the hall
which is on an accruals basis. Expenditure is included on the 3￿rU?13 basis.
Charitable activities comprise all costs incurred by the charity in the delivery of its activitles
and services for its beneficiaries. Governance ¢ost$ include tho$e costs as$o¢iated with
meeting the Constitutional and statutory requirements of the charity.
Depreclatlon
Depreciation is provided to write off the agsets over their estimated useful lives as follows..
Land
Not deprociated
Equipmant
15% per annum reducing balance
Exhibition equipment
33.33% per annum Straight line
Computer and website
20% per annum straight line
Heritage Assets
Heritage 8ssets are slated at cost and are depreciated at 2% per annum straight line.
Investments
Investments are stated at market value at the balance sheet date and the g8in or loss on
revaluation is taken to the Statement of Financial Activities.
Debtors
Debtors are included at the settlement amount due.
Cash at bank
Cash at bank includes cash and short temi highly liquid investments with a short m8turity of
three months or less from the date of opening of the deposit.

TUCKERS HALL EXEfER UMrrED
NOTES TO THE UNAUDrrED FINANCIAL sTATEmE￿s
YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POUCIES lcontinuedl
Credhors
Creditors are recognised where the charity has a present obligation arising from a past
event that will probably result in the transfer of funds to a third paity and the amount due
to settle the obligation can be measured or estimated reliably. Creditors are recognised at
their settlement amount. Interest free loans have not been discounted as they have no set
repayment date.
Deferred Income
Deferred income is recognised when hall hire income is received prior to the year-end but
the hall hire occurs in the next finanGi81 period.
Flnan¢l•l In$trvmants
The charity only has finan¢ial asseis and liabilities of a kind that qualify as basic financial
Instruments. Basic financial instrumenis are iniiially recognised at transaction value and
subsoquently measured at their settlement value.
Fund A¢¢ountlng
Funds held by the charity ar• oithor.
Unrostrlcted General Funds
These are funds which can be used in accordanGe with the charitablo objects at the
discretion of the trustees.
R•strlct•d Fund$
These are funds that can only be used for particular restricted purpose$ within the objects of
the charity. Resiriciions arise when specified by the donor or when funds are raised for
particular purpose8.
TAXATION
The charitable company is &xempt from corporation tax on its charitable activitles.
AVERAGE EMPLOYEES & STAFF COSTS
The 8verage number of employees during the year was nil12024: nill.
TRUSTEES. REMUNERATION AND EXPENSES
No remunèr8tion directly or indirectly out of the funds of the charity was p8id or payable for
the year to anytrustee orto any pérson or parson8 known to be connected with any ofthem.
No reimbursement ofexpenses has been made or is due to be made to any ofthe trustees in
respect of the year.
There were no other financial transactions made wlth trustees during the year.
10

TUCKERS HALL EXEtER UMITED
NOTES TO THE UNAUDrrED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
TANGIBLE FIXED ASSETS
Exhibition
Equipment Equipment
Computer
& Webslte
Totsl
COST
At 1 April 2024
Additions
71.139
118.640
3,853
157
193,632
157
At 31 March 2025
71.139
118.640
4,010
193,789
DEPRECIATION
Ai 1 April 2024
Charge for the year
55,985
2,273
118.640
3.734
151
178,359
2,424
At 31 March 2025
58,258
118,640
180,782
NET BOOK VALUE
At 31 March 2025
12.881
126
13,007
At 31 March 2024
18.253
240
18.493

TUCI(ERS HALL EXEfER UMtTED
NOTES TO THE UNAUDrrED RNANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
HERITAGE ASs￿s
Freohold
Property
COST
At 1 April 2024
Additions
363,069
At 31 March 2025
363,069
DEPRECIATION
At 1 April 2024
Charge lor year
98.403
6,631
At 31 March 2025
105,034
NET BOOK VALUE
At 31 March 2025
258,035
At 31 March 2024
264.666
Tuckers Hall dates back 10 1471 and wntinues to this day to be the home of the Clothworkers
Guild- now known as the Incorporation of Weavers Fullers and Shearmen of Exeter,
It is a listed building of great significance as the cornerston8 of the woollen cloth trade in
Ex8t8r which madg the city wealthy and a c¢ntrè for international trade from th8 15, to the
late 181h century.
The propety Is preserved and mainlalngd by members of th8 Incorporation and now
includes a modern interactive Interpretstion Centre. which is open to the public, illustrating
the Woollen Cloth manufacturing proceg$8s and the Development of the Cloth Trade in
Exeter.
Freehold property includes land of £32208 which has not been depreciated.
The Trustees are of the oplnion that the market value of the freehold property exoe8ds the
cost.
12

TUCKERS HALL EXEfER UMrrED
NOTES TO THE UNAUDtrED HNANCIAL STATEMEKrs
YEAR ENDED 31 MARCH 2025
INVESTMENTS
2024
Market value at 1 April 2024
GainllLossl on revaluation
141,680
16,6011
129,312
12.368
Market value at 31 March 2025
135,079
141,680
Investments at market value comprised:
UK Equities
135.079
141,680
Historical cost a$ ￿ 31 March 2025
67.962
67,962
DEBTORS
2025
Pr6p8yments and accrued income
Tax recoverable
Other debtors
11.807
7,148
760
10.038
8.656
BOO
19,115
19,474
CREDITORS: Due within one year
2025
2024
Loan
Accruals
Clerk's fees
Deferred income
18,708
2.549
4,083
1,000
4.083
22,256
The loan is interest free with no fixed repayment terms or date and is provided by current
and past supporters ofthe Charity. tt is repayable on demand.
13

TUCKERS HALL EXEfER UMTfED
NOTES TO THE UNAUDtrED RNANCIAL STATEME1￿
YEAR ENDED 31 MARCH 2025
10. RESERVES
Balance
Brought
lonvard
In¢ome Expondituro Transfers
Gains/
Balance
ILo$sesl Carried
lorward
Interns grant
2.975
11.5971
11.2801
Total restricted
funds
3.942
2.975
11.5971
112801
4,040
Unrestricled funds
446,063
70.768
149,0611
1,280
16.601
462,449
450,005
73.743
150.6581
16,6011
466,489
Interns gr8nt
This fund relates to grants received which are to be used towards the costs of interns. part of
which has been utilised in tha year, the remaindèr is to be carried forward against future
intern costs.
11. SUMMARY OF NET ASSETS BY FUNDS
R•8trl¢t
Funds
Unrestricted
Funds
Total
Flxed Asset5
Investments
Net Current Assets
271.041
135,079
56,329
271,041
135.079
60,369
462,449
466,489
12. COMPANY UMITED BY GUARAiifEE
Every member of the company undertakes to contribute such amounts as may be required
Inot exceeding £11 to the assets of the comp8ny if it should be wound up while he is a
member or within one year after he ceases to be a member. for payment of the company's
debts and liabilities contrarfed before he ceases to be a member. and of the costs. charges
and expenses of winding up, and for the adjustment of the rights of the contributories among
themselves.
14