I help my friend "Jane" organise a small club related to a mutual hobby. Think photography or similar. We hold meetings monthly and organise a range of talks, events and friendly competitions throughout the year. Members pay a small annual subscription (£40) to join, which covers costs such as renting the meeting venue etc. We currently have around 35 members and there is a small committee who help from time to time, and meet to discuss the programme of events etc.
Jane is now, sadly, quite ill and unable to continue with her role, and I have other commitments and less time to take it on myself. None of the other committee members are willing to take on the lead role. We are, therefore, considering winding up the club at the end of the current season in September.
The club has a few hundred pounds in funds in its bank account but no other assets.
Has anyone has experience of a similar situation? What do we do with the remaining funds once all costs have been covered and are there any legal pitfalls we may encounter in calling it a day when the current programme of planned events concludes? Thank you for any insights or advice.