The society's reserves policy has been prepared through consultation of the Charities Commission
Guidance on Reserves Policies for Small Charities and has been agreed by council and will be reviewed
and ratified annually at the AGM. We hold aside: 1) an amount of £15k to cover unforeseen emergencies,
including the potential failure of a prospectus meeting, 2) a sum equivalent to any potential uncertainties
in future income over 3 years, estimated according to the £10k per annum difference between
membership income and typical overall annual income, 3) a further contingency of £20k to meet
unforeseen needs, including unexpected opportunities which might arise for the society to further it's
objectives, alongside any additional unforeseen changes in operational costs.
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