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REGISTERED COMPANY NUMBER: 12907951 (England and Wales)

REGISTERED CHARITY NUMBER: 1193687















REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024

FOR


GALLERY CLIMATE COALITION



GALLERY CLIMATE COALITION








CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024






Page




Reference and Administrative Details  

1




Report of the Trustees  

2


to


5



Independent Examiner's Report  

6




Statement of Financial Activities  

7




Balance Sheet  

8


to


9



Notes to the Financial Statements  

10


to


17



GALLERY CLIMATE COALITION



REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024





TRUSTEES

T K S Dane


K MacGarry


V M Siddall


G Hilty


I Angus


N Sandhaus


L Pietroiusti




REGISTERED OFFICE

Church View Chambers


38 Market Square


Toddington


Bedfordshire


LU5 6BS




REGISTERED COMPANY

NUMBER

12907951 (England and Wales)




REGISTERED CHARITY

NUMBER

1193687




INDEPENDENT EXAMINER

Landers Accountants Ltd


Church View Chambers


38 Market Square


Toddington


Bedfordshire


LU5 6BS




BANKERS

Lloyds Bank Plc


Victoria House


Southampton Row


London


WC1B 5HR


GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



REPORT OF THE TRUSTEES

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024



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 period 1 October 2023 to 31 March 2024. 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

Our main activities and who we serve as an organisation are described below. All our charitable activities focus on building an environmentally sustainable visual arts sector, to further our charitable purposes for the public benefit.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Public benefit

The goal of GCC is to facilitate the decarbonisation of the visual art sector and promote near zero-waste practices. As a charity and membership organisation, our long-term vision is an environmentally responsible art world that leads by example. By supporting collaboration and innovation, we aim to create a sustainable cultural sector that champions climate action and inspires broader systemic change across industries. The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.


GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



REPORT OF THE TRUSTEES

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


ACHIEVEMENT AND PERFORMANCE

Charitable activities

Gallery Climate Coalition (GCC) is dedicated to reducing the visual arts sector's environmental impact and driving systemic change through knowledge sharing, community building, and advocacy. We empower arts organisations, artists and artworkers to embed environmental responsibility into their operations.

This past year, we reached new milestones, with over 1600 members globally committing to our mission of reducing emissions by at least 50% by 2030. We also launched our Artist and Art Fair Toolkits for Environmental Responsibility, which garnered significant industry press coverage and set new standards for industry collaboration and alignment on best practices. We celebrated growing membership, impactful press coverage-including a high-profile op-ed in Artnet-and meaningful audience engagement at international events like the World Art Foundations gathering in Lisbon.

A major highlight for GCC in 2024 includes the successful launch of our new Carbon Calculator tool, alongside a training workshop series to train and empower members to use the tool supported by a grant from the Getty Foundation. The Carbon Calculator, now a trusted tool across the sector, has seen record use, enabling organisations to track and reduce their environmental impacts more effectively than ever.

Policy development was a key focus, with the launch of our Ethical Fundraising & Partnership Policy and our Climate Conscious Travel Policy, as well as updates to our Strategic Climate Fund (SCF) guidelines. These steps further aligned our practices with our environmental values.

Internally, 2024 has been a transformative year for the GCC team, marked by significant milestones and operational advancements. Our team expanded to four permanent staff members, supported by a talented group of freelancers, including a dedicated bookkeeper and a new press and communications team. Operationally, we introduced a revamped finance system and a comprehensive communications strategy, enhancing both efficiency and outreach.

Our membership has grown significantly and to capture helpful information about the people and organisations we represent, we launched a members survey. We have gained some insightful data on our membership's wants and needs, and have been overwhelmed by the positive feedback with 97.3% of our survey respondents agreeing GCC has inspired positive change in the visual arts sector.

All in all, it is clear GCC continues to build momentum toward systemic change in the arts sector. However, 2024 was not without its difficulties. The urgency of the climate crisis demands faster action, and achieving a balance between the GCC's ambition and its available resources remains an ongoing challenge. Yet, these obstacles have only strengthened our resolve.

FINANCIAL REVIEW

Financial position

The balance held as unrestricted funds at 31 March 2024 was £368,555. (30th September 2023 of £202,615)


Based on the above, going concern is not considered an issue for GCC.


Principal funding sources

Our principle source of funding is through donations from the charity's membership and Supporters Circle.

Other sources of funding include that from website donations, event programming commissions, and through charitable artwork sales.

Investment policy and objectives

We do not currently consider the investment of surplus funds to be appropriate at this point of time. This will continue to be reviewed.


GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



REPORT OF THE TRUSTEES

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024



FINANCIAL REVIEW

Reserves policy

GCC maintains free reserves in unrestricted funds of £80,000 which equates to approximately 3 months of unrestricted charitable expenditure. The trustees consider that this will provide sufficient funds to continue the payment of employees and fulfil further financial obligations for a minimum of 3 months.

FUTURE PLANS

Since 31st March 2024 there has been a decline in donations however the charity has significant potential income on the horizon, with several major funding opportunities in active development. A robust fundraising strategy is currently being implemented to diversify income streams, secure new funding sources, and strengthen financial resilience. Key initiatives include targeted donor engagement, strategic partnerships, and grant applications, all of which are expected to contribute to improved financial stability in the coming months.


The trustees and management team remain confident that with these proactive measures, the charity will continue to operate as a going concern. We are committed to ensuring financial sustainability, maintaining operational effectiveness, and fulfilling our mission while meeting all regulatory obligations.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.


Organisational structure

Core Team
GCC has four permanent team members; Heath Lowndes - Director, Aoife Fannin - Project Manager, Nicola Ferráo - Operations Manager and, since July 2024, Lula Rappoport - Community Coordinator. GCC's success to date would not have been possible without the dedication and hard work of our incredible team. Their unwavering commitment to creating systemic change in the industry and environmental responsibility generally has been truly inspiring.

Freelancers
In addition to the core team, GCC works with several regular freelance contributors such as an Environmental Advisor, Designer, Bookkeeper, Project Coordinator (specifically for our Carbon Calculator) and other occasional ad-hoc contributors on a project-by-project basis.

Board of Trustees
Our trustees are; Kate MacGarry, Victoria Siddall, Thomas Dane, Greg Hilty, Isla Angus and Lucia Pietroiusti. We are currently in the process of recruiting a new Chair for the board, due to be announced and in position from Spring 2025 . The new Chair will oversee further recruitment to the board and new appointments of Treasurer and Secretary positions, either from new or existing trustees. Furthermore, we also have plans to initiate Advisory Boards for the UK and USA in the near future. This would allow us to expand and formalise our network of senior contributors and fill our skills gaps with industry experts that can support our mission.

Key management remuneration

The total remuneration of key management personnel for 6 months to 31st March 2024 (including salaries and other benefits) was £65,866 (compared to 12 months to 30th September 2023 £112,725).



GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



REPORT OF THE TRUSTEES

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


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 7 February 2025 and signed on its behalf by:






K MacGarry - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

GALLERY CLIMATE COALITION


Independent examiner's report to the trustees of Gallery Climate Coalition ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 October 2023 to 31 March 2024.


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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.


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.









Landers Accountants Ltd

The Institute of Chartered Accountants in England and Wales


Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS


7 February 2025



GALLERY CLIMATE COALITION



STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024



Period



1.10.23



to

Year Ended


31.3.24


30.9.23


Unrestricted


Restricted


Total


Total


fund


fund


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

345,916


-


345,916


218,350



Other income

3,697


-


3,697


-


Total

349,613


-


349,613


218,350



EXPENDITURE ON

Raising funds

3

28,095


-


28,095


32,394




Other

155,578


-


155,578


213,793


Total

183,673


-


183,673


246,187



NET INCOME/(EXPENDITURE)

165,940


-


165,940


(27,837

)



RECONCILIATION OF FUNDS

Total funds brought forward

202,615


-


202,615


230,452



TOTAL FUNDS CARRIED FORWARD

368,555


-


368,555


202,615



GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



BALANCE SHEET

31 MARCH 2024



31.3.24


30.9.23


Unrestricted


Restricted


Total


Total


fund


fund


funds


funds


Notes

£   

£   

£   

£   


FIXED ASSETS


Intangible assets

8

122


-


122


130


Tangible assets

9

2,089


-


2,089


2,030


2,211


-


2,211


2,160



CURRENT ASSETS


Debtors

10

40,772


-


40,772


10,309


Cash at bank

381,195


-


381,195


248,064


421,967


-


421,967


258,373



CREDITORS


Amounts falling due within one year

11

(55,623

)

-


(55,623

)

(57,918

)


NET CURRENT ASSETS

366,344


-


366,344


200,455



TOTAL ASSETS LESS CURRENT

LIABILITIES

368,555


-


368,555


202,615



NET ASSETS

368,555


-


368,555


202,615


FUNDS

12

Unrestricted funds

368,555


202,615


TOTAL FUNDS

368,555


202,615



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.


GALLERY CLIMATE COALITION (REGISTERED NUMBER: 12907951)



BALANCE SHEET - continued

31 MARCH 2024



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 7 February 2025 and were signed on its behalf by:






K MacGarry - Trustee



GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


1.

COMPANY INFORMATION



Gallery Climate Coalition is a private company limited by guarantee, registered in England and Wales. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. Its registered office is Church View Chambers, 38 Market Square, Toddington, Bedfordshire, LU5 6BS and their principle place of business is 34 Drayton Park. London, England, N5 1PB.


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 2019)', 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.



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.



Governance costs


Governance costs include those incurred in the governance of the charities assets and are associated with constitutional and statutory requirements.



Intangible assets


Such an asset is identifiable when it is separable, or when it arises from contractual or other legal rights.



Patent and licence is calculated to write off the cost of intangible assets less its estimated residual values using the straight-line method over its estimated useful life, and is recognised in the statement of financial activities.



The estimated useful life for current and comparative periods are as follows:



Patent and licence            -  10 years straight line



Amortisation methods, useful lives and residual values are reviewed at each reporting date and adjusted if appropriate




GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


2.

ACCOUNTING POLICIES - continued



Computer equipment

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



Computer equipment

-

33% on cost


Depreciation is charged on a straight line basis over 3 years.


Taxation

The company is a charity within the meaning of the Finance Act 2010 (schedule 6, paragraph 1). Accordingly the company is potentially exempt from taxation in respect of income or capital gains within categories covered by the Corporation Tax Act 2010 (part 11, chapter 3) or the Taxation of Chargeable Gains Act 1992 (section 256), to the extent that such income or gains are applied exclusively to charitable purposes. No tax charge arose in the period.


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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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


Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Pension costs and other post-retirement benefits


The charitable company operates a defined contribution pension scheme.  Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.




GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


3.

RAISING FUNDS



Raising donations and legacies


Period



1.10.23



to

Year Ended


31.3.24


30.9.23

£   

£   



Support costs

28,095


32,394




4.

NET INCOME/(EXPENDITURE)



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




Period



1.10.23



to

Year Ended


31.3.24


30.9.23

£   

£   



Independent examination

1,950


1,625




Depreciation - owned assets

670


1,075




Patents and licences amortisation

8


17




5.

TRUSTEES' REMUNERATION AND BENEFITS



During the year remuneration of £16,800 (2023: £25,600) was paid to one trustee who is a consultant to the charity.



Trustees' expenses


There were no trustees' expenses paid for the period ended 31 March 2024 nor for the year ended 30 September 2023.


6.

STAFF COSTS



The average monthly number of employees during the period was as follows:



Period



1.10.23



to

Year Ended


31.3.24


30.9.23


Administration

4


3





No employees received emoluments in excess of £60,000.



GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


7.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


fund

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

218,350




EXPENDITURE ON


Raising funds

32,394





Other

213,793



Total

246,187




NET INCOME/(EXPENDITURE)

(27,837

)




RECONCILIATION OF FUNDS


Total funds brought forward

230,452




TOTAL FUNDS CARRIED

FORWARD

202,615



8.

INTANGIBLE FIXED ASSETS


Patents


and


licences

£   



COST


At 1 October 2023 and 31 March 2024

170




AMORTISATION


At 1 October 2023

40




Charge for year

8




At 31 March 2024

48




NET BOOK VALUE


At 31 March 2024

122




At 30 September 2023

130






GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


9.

TANGIBLE FIXED ASSETS


Computer


equipment

£   



COST


At 1 October 2023

3,655




Additions

729




At 31 March 2024

4,384




DEPRECIATION


At 1 October 2023

1,625




Charge for year

670




At 31 March 2024

2,295




NET BOOK VALUE


At 31 March 2024

2,089




At 30 September 2023

2,030




10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.3.24


30.9.23

£   

£   



Trade debtors

22,725


7,000




Other debtors

879


1,029




Prepayments

17,168


2,280



40,772


10,309




11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.3.24


30.9.23

£   

£   



Trade creditors

43,691


19,362




Social security and other taxes

3,477


2,009




Pension liability

503


1,007




Other creditors

-


32,390




Accruals and deferred income

7,952


3,150



55,623


57,918






GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


12.

MOVEMENT IN FUNDS


Net




At


movement


At



1.10.23


in funds


31.3.24


£   

£   

£   



Unrestricted funds


General fund

202,615


165,940


368,555





TOTAL FUNDS

202,615


165,940


368,555





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

349,613


(183,673

)

165,940





TOTAL FUNDS

349,613


(183,673

)

165,940






Comparatives for movement in funds



Net




At


movement


At



1.10.22


in funds


30.9.23


£   

£   

£   



Unrestricted funds


General fund

230,452


(27,837

)

202,615





TOTAL FUNDS

230,452


(27,837

)

202,615





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



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

218,350


(246,187

)

(27,837

)




TOTAL FUNDS

218,350


(246,187

)

(27,837

)




GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


12.

MOVEMENT IN FUNDS - continued




DESIGNATED FUNDS




31.3.24



30.9.23





£



£




Unrestricted


146,846



170,225




Getty Summit Research


26,109



-




Getty Calculator


113,906



-




Tieger Foundation


32,821



-




W&M Gulbenkian Waste & Material


14,798



-




Artist Toolkit Activation


12,000



-




GCC Italia


22,075



32,390




TOTAL DESIGNATED FUNDS


368,555



202,615






Unrestricted


Funds supporting core operations and activities.



Getty Summit Research


The Getty Summit Research funds, awarded by the Getty Foundation, are designated to support the research and development of an arts & climate summit in Los Angeles.



Getty Calculator


The Getty Calculator funds, awarded by the Getty Foundation, are allocated to support the research and development, building, and launch of an art sector-specific carbon calculator.



Tieger Foundation


Funds were raised to support internal research and development of a new sector specific resource relating to environmentally responsible exhibition production.



W&M Gulbenkian Waste & Material


Funds were raised to support internal research and development of a new sector specific best practice resource on circularity of materials environmentally responsible waste management.



Artist Toolkit Activation


Funds are allocated for the strategy and launch of an outreach campaign aimed at engagement artists with the Artist Toolkit.



GCC Italia


Funds raised from the sale of a Loris Cecchini wall mounted sculpture are allocated for researching and developing a strategy for international engagement and expansion.




GALLERY CLIMATE COALITION



NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 OCTOBER 2023 TO 31 MARCH 2024


13.

RELATED PARTY DISCLOSURES


Other debtors consist of balances due from Dane Chantala Associates Limited. T K D Dane is a shareholder of Thomas Dane Limited. Thomas Dane Limited is a shareholder of Dane Chantala Associates Limited.

14.

TRUSTEES LIABILITY



Gallery Climate Coalition is a company Limited by Guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.