The company acts as a trustee of a statutory trust in respect of service charges collected for the maintenance of
The Old Library, Bristol. The company is responsible for the management of this property and collects these
charges from the lessees in order to cover the costs incurred. Any excess charges are held in trust for the lessees
as required by Section 42 of the Landlord and Tenant Act 1987, and reported separately in the notes to these
accounts. Excess charges are held to fund future financial obligations in the management of The Old Library,
Bristol and will be treated as company income when that expenditure takes place.