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REGISTERED NUMBER: 00009806 (England and Wales)













Report of the Directors and

Financial Statements

for the Year Ended 31 March 2023

for

Hampshire Chamber of Commerce

Hampshire Chamber of Commerce (Registered number: 00009806)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 4

Income Statement 8

Balance Sheet 9

Notes to the Financial Statements 10


Hampshire Chamber of Commerce

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G L Thomas
R G McNally
P A B Taylor
M A Mills-Goodlet
E J Gould
J P Jeffers
A Butson
B J Smith
L Brien
A Boughton
A Kaye
J A Bliss
R Thompson



SECRETARY: L M Hall



REGISTERED OFFICE: Fareham College
Bishopsfield Road
Fareham
Hampshire
PO14 1NH



REGISTERED NUMBER: 00009806 (England and Wales)



SENIOR STATUTORY AUDITOR: A J Bennewith



AUDITORS: Bennewith 2018 Limited (Statutory Auditors)
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

Hampshire Chamber of Commerce (Registered number: 00009806)

Report of the Directors
for the Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of membership organisation

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

G L Thomas
R G McNally
P A B Taylor
M A Mills-Goodlet
E J Gould
J P Jeffers
A Butson
B J Smith
L Brien
A Boughton
A Kaye

Other changes in directors holding office are as follows:

N H Barwood - resigned 19 October 2022
D A Harris - resigned 27 January 2023
L Bielinski - resigned 22 December 2022
J A Bliss - appointed 9 November 2022
R Thompson - appointed 19 October 2022

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Hampshire Chamber of Commerce (Registered number: 00009806)

Report of the Directors
for the Year Ended 31 March 2023


AUDITORS
The auditors, Bennewith 2018 Limited (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R G McNally - Director


18 October 2023

Report of the Independent Auditors to the Members of
Hampshire Chamber of Commerce

Opinion
We have audited the financial statements of Hampshire Chamber of Commerce (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its surplus for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Hampshire Chamber of Commerce


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Hampshire Chamber of Commerce


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.
- Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in the internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Hampshire Chamber of Commerce


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




A J Bennewith (Senior Statutory Auditor)
for and on behalf of Bennewith 2018 Limited (Statutory Auditors)
3 Wey Court
Mary Road
Guildford
Surrey
GU1 4QU

23 October 2023

Hampshire Chamber of Commerce (Registered number: 00009806)

Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 698,882 689,045

Cost of sales 207,130 169,252
GROSS SURPLUS 491,752 519,793

Administrative expenses 573,082 588,201
(81,330 ) (68,408 )

Other operating income 84,305 140,997
OPERATING SURPLUS 4 2,975 72,589

Interest receivable and similar income 2,969 93
SURPLUS BEFORE TAXATION 5,944 72,682

Tax on surplus - -
SURPLUS FOR THE FINANCIAL YEAR 5,944 72,682

Hampshire Chamber of Commerce (Registered number: 00009806)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 834 3,334
Tangible assets 7 18,491 18,668
Investments 8 1,001 1,001
20,326 23,003

CURRENT ASSETS
Stocks 1,586 2,615
Debtors 9 66,697 11,750
Cash at bank 352,644 380,740
420,927 395,105
CREDITORS
Amounts falling due within one year 10 227,842 210,541
NET CURRENT ASSETS 193,085 184,564
TOTAL ASSETS LESS CURRENT LIABILITIES 213,411 207,567

RESERVES
Other reserves - 100
Income and expenditure account 213,411 207,467
213,411 207,567

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





R G McNally - Director


Hampshire Chamber of Commerce (Registered number: 00009806)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hampshire Chamber of Commerce is a private company, limited by guarantee, registered in England and Wales. The company was incorporated on 30 August 1875. The company is registered number is 00009806 and its registered office address is Wates House Ground Floor, Wallington Hill, Fareham, Hampshire, PO16 7BJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The directors do not consider there to be any significant judgements (apart from those involving estimates) used to have had significant effect on amounts recognised in the financial statements.

Turnover
Turnover represents net sales during the year (excluding value added tax) adjusted for accrued and deferred income where applicable.

Turnover is recognised on provision of the service.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its useful life of 10 years.

Website costs are being amortised evenly over the estimated useful life of 3 years

Tangible fixed assets
All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & fittings - Southampton Chamber assets15% or 30% straight line
Fixtures & fittings - Portsmouth and North Hants Chambers assets15% or 30% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Hampshire Chamber of Commerce (Registered number: 00009806)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged in the Income Statement on a straight line basis over the lease term.

Pensions
The company operates a defined contribution pension scheme. Contributions are recognised in the Income Statement in the period in which they become payable in accordance with the rules of the scheme.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Grants
Grants of a revenue nature are credited to the Income Statement in the period to which they relate in accordance with the terms of the grant. Any accrued or deferred element of the grant is included in debtors or creditors as applicable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

Hampshire Chamber of Commerce (Registered number: 00009806)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. OPERATING SURPLUS

The operating surplus is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets 8,234 2,305
Computer software amortisation - 8,936
Websites amortisation 2,500 2,500
Auditors' remuneration 5,000 5,090
Pension costs 22,554 20,983

5. TAXATION

The company has utilised tax losses of £5,170 against its current year tax profits (2022: £45,282), and has tax losses amounting to £433,627 (2022: £438,704) to use against future taxable profits.

6. INTANGIBLE FIXED ASSETS
Websites
£   
COST
At 1 April 2022
and 31 March 2023 7,500
AMORTISATION
At 1 April 2022 4,166
Amortisation for year 2,500
At 31 March 2023 6,666
NET BOOK VALUE
At 31 March 2023 834
At 31 March 2022 3,334

Hampshire Chamber of Commerce (Registered number: 00009806)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 102,460
Additions 8,057
At 31 March 2023 110,517
DEPRECIATION
At 1 April 2022 83,792
Charge for year 8,234
At 31 March 2023 92,026
NET BOOK VALUE
At 31 March 2023 18,491
At 31 March 2022 18,668

8. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 1,001
NET BOOK VALUE
At 31 March 2023 1,001
At 31 March 2022 1,001

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 19,353 5,324
Prepayments and accrued income 47,344 6,426
66,697 11,750

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 34,879 7,519
Social security and other taxes 38,327 42,489
Other creditors 19,420 27,871
Accruals and deferred income 135,216 132,662
227,842 210,541

Hampshire Chamber of Commerce (Registered number: 00009806)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022 2022

Within one year 2,140 2,140
Between one and five years 3,254 5,394
5,394 7,514

12. PENSION SCHEMES

The company operates a defined contribution pension scheme. The pension costs charged for the year
represents contributions payable by the company to the scheme and amounted to £22,554 (2022 - £20,983).

Contributions totalling £2,222 (2022 - £2,173) were payable to the scheme at the end of the year and are included in 'Creditors: Amounts falling due within one year'.

13. CLIENT FUNDS

At the balance sheet date, the company held client funds relating to carnet funds of £12,754 (2022: £19,135). Since these funds are held as bailee, the company segregates such monies from the company's own funds. Accordingly the client funds have not been accounted for as a company asset and no liability to the beneficial owners has been recognised in relation to them.

14. LIMITED BY GUARANTEE

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £5 towards the assets of the company in the event of liquidation