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REGISTERED COMPANY NUMBER: 04785581 (England and Wales)

REGISTERED CHARITY NUMBER: 1100537















6880 BETTON GRANGE (SOCIETY) LIMITED


UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023



6880 BETTON GRANGE (SOCIETY) LIMITED



CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023












Page




Report of the Trustees  

1


to


3



Independent Examiner's Report  

4




Statement of Financial Activities  

5




Statement of Financial Position  

6


to


7



Notes to the Financial Statements  

8


to


14


6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 2023




The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of Accounting and Reporting by 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) (effective 1 January 2019).


OBJECTIVES AND ACTIVITIES

Objectives and aims

To construct, operate and exhibit for public benefit and educational and instructional purposes locomotives of historic or scientific importance.

While many of the other Great Western classes survived into preservation, from a Class of 80 locomotives no 'Granges' survived the cutters torch. The 6880 Society was formed with the sole intention of recreating a Great Western 'Grange' class locomotive, which when completed will become the 81st 'Grange'

Significant activities

The Society engages in building the locomotive in co-operation with and involving the Tyseley Locomotive Works who act as Contractors and hosts. Fortnightly/monthly working parties are supported by volunteers with home workshop activity and preparation of drawings and location of suitable original spare parts.

Volunteers

Volunteers attend working weekends, this is when a group of people get together under the supervision of the engineering manager, the volunteers do work on the locomotive to help keep the bill down from the railway. The types of things that are achieved are;

Cleaning parts
Painting parts
Putting additional parts on to the loco.

In addition, we have volunteers who help out on sales stands at different events throughout the railway gala season.The volunteers engage with the public to talk about the project as well as trying to sell the 6880 branded goods.We also try to gain new members at these events.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Volunteers returned to working on parts of the Locomotive majoring on the controls for the ashpan damper doors and the cab floor plating in particular. Later in the year the concentration was on cleaning and repainting the underneath of the loco where parts had been scuffed during assembly, including the repaint of all wheel sets.

Tyseley Loco Works continued with the pipework and fitting out of the smokebox and cab and completed the cleating of the boiler. The hired tender was tested and found to be requiring too much remedial work to allow use. Another fully complete and suitable tender has been hired.

Fundraising activities

There are many ways we try to raise funds apart from membership fees that are paid on a monthly basis by a number of people.

Betton Grange have a sales stand that sells various branded goods, this stand goes to a number of events throughout the year. We also sell items via our website. Another way of raising funds is via our eBay page where we sell items that have been donated to us.

Easy Fundraising is another way that we raise funds along with having a TEXT Donate appeal on an ad hoc basis.


6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 2023



FINANCIAL REVIEW

Financial position

Income continues to come in through the usual routes,  Much of the income remains reliant on the core membership, which remains strong. The tender appeal, launched in 2019, now stands at £24,950 after a further £3,310 was added to the total in the year This is down from previous years, but understandably so as all fundraising attention has really been aimed at the locomotive as it nears completion. as soon as the locomotive steams, focus will return to raising the necessary funds to build a new tender.


Principal funding sources

The principal fund raising sources are;

Membership fees
Donations
Sales Events

Reserves policy

The trustees have no formal reserves policy but aim to maintain sufficient funds that allow a certain amount of financial security, but also to take advantage of opportunities to acquire spares and parts as they become available.

FUTURE PLANS

It is hoped to complete the build of the locomotive early in 2024 and to commence testing. A few small tasks are left to complete and the painting currently underway should be completed within a month. The locomotive will then leave the workshops and commence further running in trials at a nearby Heritage Railway before starting visits to railways around the UK.


The volunteer team will then turn attention to building the tender and managing the affairs of the working locomotive.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The 6880 Betton Grange (Society) Limited is a charity established and governed by Memorandum and Articles of Association dated 3rd June 2003


Recruitment and appointment of new trustees

The appointment of new trustees are in accordance with the provisions held within the Company Memorandum and Articles of Association.

Related parties

5199 PROJECT: Members of this associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There is a shared use of equipment owned by both Projects and some mutually acceptable swopping of certain components for practical reasons.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04785581 (England and Wales)


Registered Charity number

1100537


Registered office

43 - 45 Devizes Road

Swindon

Wiltshire

SN1 4BG



6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 JUNE 2023



Trustees

Mr Q D McGuinness

Mr D E Huntbatch

Mr P A Appleton

Mr R J Cadge

Mrs E McGuinness

Mr C J Moore

Mrs L M Moore


Company Secretary

Mr I Sumbler FCCA


Independent Examiner

Mr S Nuttall FCA

McGills

Chartered Accountants

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US


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


Approved by order of the board of trustees on 21 January 2024 and signed on its behalf by:






Mr Q D McGuinness - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

6880 BETTON GRANGE (SOCIETY) LIMITED



Independent examiner's report to the trustees of 6880 Betton Grange (Society) Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.


Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 your charity's accounts as 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

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:


1.

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

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

4.

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.









Mr S Nuttall FCA


McGills

Chartered Accountants

Oakley House

Tetbury Road

Cirencester

Gloucestershire

GL7 1US


26 February 2024



6880 BETTON GRANGE (SOCIETY) LIMITED



STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 30 JUNE 2023



2023


2022


Unrestricted


Total


funds


funds


Notes

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

3

63,676


34,061



Charitable activities

Tender appeal

3,310


7,310



Other trading activities

4

1,755


10,095


Total

68,741


51,466



EXPENDITURE ON

Raising funds

850


-



Charitable activities

Operational costs

12,753


14,189


Total

13,603


14,189



NET INCOME

55,138


37,277




RECONCILIATION OF FUNDS

Total funds brought forward

1,084,227


1,046,949



TOTAL FUNDS CARRIED FORWARD

1,139,365


1,084,226



6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



STATEMENT OF FINANCIAL POSITION

30 JUNE 2023



2023


2022


Unrestricted


Total


funds


funds


Notes

£   

£   


FIXED ASSETS


Intangible assets

8

340


340


Tangible assets

9

1,077


897


Heritage assets

10

1,125,864


1,042,610


1,127,281


1,043,847



CURRENT ASSETS


Stocks

11

850


1,700


Debtors

12

17,640


10,000


Cash at bank and in hand

51,564


71,421


70,054


83,121



CREDITORS


Amounts falling due within one year

13

(57,970

)

(42,742

)


NET CURRENT ASSETS

12,084


40,379



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,139,365


1,084,226



NET ASSETS

1,139,365


1,084,226


FUNDS

15

Unrestricted funds

1,139,365


1,084,226


TOTAL FUNDS

1,139,365


1,084,226



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


6880 BETTON GRANGE (SOCIETY) LIMITED (REGISTERED NUMBER: 04785581)



STATEMENT OF FINANCIAL POSITION - continued

30 JUNE 2023


These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.



The financial statements were approved by the Board of Trustees and authorised for issue on 21 January 2024 and were signed on its behalf by:






Mr Q D McGuinness - Trustee



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023



1.

CHARITY INFORMATION



The company is a company limited by guarantee and incorporated in England and Wales, and a registered charity with the Charity Commission in England and Wales.



The registered office address is 43 -45 Devizes Road, Swindon, wiltshire SN1 4BG



These financial statements are presented in British Pounds (GBP), which is the charity's functional and presentational currency.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.



Financial reporting standard 102 - reduced disclosure exemptions


The charity has taken exemption from preparing a cash flow statement under the charities SORP (FRS 102) Update Bulletin 1 issued on 2 February 2016, as the charity constitutes a small charity.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Intangible asset


During 2018 the Charity created a 6880 trademark to help protect the brand image in use.and in 2021 a second trademark was registered to further strengthen the brand image. In view of the relatively small costs involved, and longevity of the trademarks, no amortisation is being applied on the basis it would be immaterial to the accounts as a whole.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Marquee & Container

-

25% on reducing balance


Equipment

-

25% on reducing balance



Heritage assets

The Heritage assets are stated at historical cost, together with the accumulated costs of restoration to working order as incurred. Due to the special nature of the assets, it is considered impractical to adopt a policy of revaluation.

The trustees consider the assets each year in terms of impairment. Should any impairment arise this will be charged to the statement of financial activities in the year in which it occurs. Generally the trustees believe that assets appreciate in value and therefore no policy of depreciation is applied in order to show a true and fair view.




6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



2.

ACCOUNTING POLICIES - continued



Heritage assets

The boiler is being treated as a component asset within the overall construction of the locomotive and is subject to depreciation at 10% straight line, starting at the point the 10 year boiler certificate was issued in April 2023.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Taxation

The charity is exempt from corporation tax on its charitable activities.


Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

3.

DONATIONS AND LEGACIES


2023


2022

£   

£   



Donations

33,539


11,607




Gift aid

16,333


5,430




Members subscriptions

13,804


17,024



63,676


34,061




4.

OTHER TRADING ACTIVITIES


2023


2022

£   

£   



Sales

1,682


666




Sponsorship

-


9,429




Other income

73


-



1,755


10,095




5.

NET INCOME/(EXPENDITURE)



Net income/(expenditure) is stated after charging/(crediting):




2023


2022

£   

£   



Depreciation - owned assets

360


300






6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



6.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.



Trustees' expenses


There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.


7.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


funds

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

34,061




Charitable activities


Tender appeal

7,310




Other trading activities

10,095



Total

51,466




EXPENDITURE ON


Raising funds

-




Charitable activities


Operational costs

14,189



Total

14,189




NET INCOME

37,277





RECONCILIATION OF FUNDS


Total funds brought forward

1,046,949




TOTAL FUNDS CARRIED FORWARD

1,084,226



8.

INTANGIBLE FIXED ASSETS


Trademark

£   



COST


At 1 July 2022 and 30 June 2023

340




NET BOOK VALUE


At 30 June 2023

340




At 30 June 2022

340






6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



9.

TANGIBLE FIXED ASSETS


Marquee &



Container


Equipment


Totals

£   

£   

£   



COST


At 1 July 2022

8,322


14,526


22,848




Additions

400


140


540




At 30 June 2023

8,722


14,666


23,388




DEPRECIATION


At 1 July 2022

7,959


13,992


21,951




Charge for year

191


169


360




At 30 June 2023

8,150


14,161


22,311




NET BOOK VALUE


At 30 June 2023

572


505


1,077




At 30 June 2022

363


534


897




10.

HERITAGE ASSETS


Total

£   



MARKET VALUE


At 1 July 2022

1,042,610




Additions

90,287




At 30 June 2023

1,132,897




PROVISIONS


Charge for year

7,033




NET BOOK VALUE


At 30 June 2023

1,125,864




At 30 June 2022

1,042,610




Heritage assets comprise Betton Grange (under construction), plus £40,000 the society paid in February 2010 for the unrestored locomotive 5952 Cogan Hall.

The front bogie of Cogan Hall has been removed to assist in the construction of 6880 Betton Grange. The 6880 Society have promised that Cogan Hall will be restored in her own right and their long-term aim is to have both 6880 and 5952 working together

The boiler was kindly donated to 6880 by the Vale of Glamorgan Council from their unrestored locomotive 7927 Willington Hall. 6880 will carry the Barry Shedplate code 88C as a recognition of this valuable donation.



6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



11.

STOCKS

2023

2022


£   

£   



Stocks

850


1,700




12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Other debtors

12,500


10,000




VAT

5,140


-



17,640


10,000




13.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Other loans (see note 14)

20,000


20,000




Trade creditors

37,745


22,486




VAT

-


56




Accrued expenses

225


200



57,970


42,742




14.

LOANS



An analysis of the maturity of loans is given below:


2023

2022


£   

£   



Amounts falling due within one year on demand:


Other loans

20,000


20,000





A member of the Society has kindly provided an interest free loan of £20,000 to help with the funding of the Boiler refurbishment.


15.

MOVEMENT IN FUNDS


Net




movement


At



At 1.7.22


in funds


30.6.23


£   

£   

£   



Unrestricted funds


General fund

801,267


58,861


860,128




Boiler appeal

261,320


(7,033

)

254,287




Tender appeal

21,640


3,310


24,950



1,084,227


55,138


1,139,365




TOTAL FUNDS

1,084,227


55,138


1,139,365





6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



15.

MOVEMENT IN FUNDS - continued



Net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

65,431


(6,570

)

58,861




Boiler appeal

-


(7,033

)

(7,033

)



Tender appeal

3,310


-


3,310



68,741


(13,603

)

55,138




TOTAL FUNDS

68,741


(13,603

)

55,138






Comparatives for movement in funds



Net




movement


At



At 1.7.21


in funds


30.6.22


£   

£   

£   



Unrestricted funds


General fund

771,299


29,967


801,266




Boiler appeal

261,320


-


261,320




Tender appeal

14,330


7,310


21,640



1,046,949


37,277


1,084,226




TOTAL FUNDS

1,046,949


37,277


1,084,226





Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

44,156


(14,189

)

29,967




Tender appeal

7,310


-


7,310



51,466


(14,189

)

37,277




TOTAL FUNDS

51,466


(14,189

)

37,277





6880 BETTON GRANGE (SOCIETY) LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2023



15.

MOVEMENT IN FUNDS - continued



A current year 12 months and prior year 12 months combined position is as follows:



Net




movement


At



At 1.7.21


in funds


30.6.23


£   

£   

£   



Unrestricted funds


General fund

771,299


88,828


860,127




Boiler appeal

261,320


(7,033

)

254,287




Tender appeal

14,330


10,620


24,950



1,046,949


92,415


1,139,364




TOTAL FUNDS

1,046,949


92,415


1,139,364





A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

109,587


(20,759

)

88,828




Boiler appeal

-


(7,033

)

(7,033

)



Tender appeal

10,620


-


10,620



120,207


(27,792

)

92,415




TOTAL FUNDS

120,207


(27,792

)

92,415




16.

RELATED PARTY DISCLOSURES


5199 PROJECT: Members of this associated locomotive project formed the nucleus of the team that created The Betton Grange Society. There is a shared use of equipment owned by both Projects and some mutually acceptable swopping of certain components for practical reasons.

17.

ULTIMATE CONTROLLING PARTY


There is no one ultimate controlling party. Control of the charitable company lies with the trustees.

18.

MEMBERS GUARANTEE



The company is limited by the guarantee of the members. The liability of the members is limited to £10 on the winding up of the company.