```
REGISTERED CHARITY NUMBER: 1038286
```
```
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
```
```
FOR
THE BULL TERRIER (UK) WELFARE TRUST
```
```
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2022`**
|||**`Page`**||
|---|---|---|---|
|**`Report of the Trustees`**|`1`|`to`|`3`|
|**`Independent Examiner's Report`**||`4`||
|**`Statement of Financial Activities`**||`5`||
|**`Statement of Financial Position`**||`6`||
|**`Notes to the Financial Statements`**|`7`|`to`|`10`|
|**`Detailed Statement of Financial Activities`**||`11`||
## **`THE BULL TERRIER (UK) WELFARE TRUST`**
## **`REPORT OF THE TRUSTEES for the year ended 31 December 2022`**
```
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December2022. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice
applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
Republic of Ireland (FRS 102) (effective 1 January 2019).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and aims`**
```
The objectof theTrustshallbe to relievethesufferingand distressof BullTerriers.To givecareand protectionto Bull Terriers
which are in need by reason of sickness, maltreatment or poor circumstances.
```
## **`Public benefit`**
```
ThetrusteeshavehadregardtotheguidanceissuedbytheCharityCommissionandaresatisfiedthatthecharityisfor public
benefit.
```
## **`ACHIEVEMENT AND PERFORMANCE`**
## **`Charitable activities`**
```
We as trustees strive to continue to fundraise for the trust and wish to thank all that have helped us to achieve this.
```
```
At the start of 2022 we had 2 bull terriers in kennels.
Quarter 1 (Jan-March) We had 3 come in and 3 go out
Quarter 2 (April-June) We had 8 come in and 3 go out
Quarter 3 (July-Sept) We had 24 come in and 14 go out
Quarter 4 (Oct-Dec) We had 15 come in and 14 go out
```
```
Totalsfor2022are50inand34outand4unfortunatelywereputtosleep.Thisleavesuswith14bullterriersinkennels at
the end of 2022.
```
```
ThekennelsusedremainthesamewithSherrilGoodwininClowne,KellyMarplesinChesterfieldandKarlaWilson in
Northern Ireland.
```
```
During2022ourmainactivitiesandachievementshaveremainedthesameandhavebeenfocussedonassessing and
rehomingasquicklyaspossible.Wealwaysstrivetoprovidethebestpossiblecareandensuringthedogsgetinto their
forever homes as quickly as possible.
```
```
Allprospectivenewownerscanstillapplyonline,orwecanpostanapplicationformouttobefilledinandreturnedto us.
We then arrange home checks. This has continued to work well.
```
```
Unfortunately,inDecemberwehad7BullTerrierscomeintousasanemergency,thesedogswerefromSpain.We were
askedto helpthesedogsin Septemberasa rescuein Spainhad 65 dogs,and theauthoritieshad to stepin and takethese dogs
astheowneroftherescuecouldunfortunatelynottakecareofthemherselfduetohealthissues.TheSpanishauthorities put
28ofthesedogsalltogetherinafieldandafightbrokeoutresultingin3ofthedogslosingtheirlives.JaneandJulie who
fundraiseforrescuesweretheoneswho askedustohelp.Betweenusall,weaskedclubsinSpainandPortugalifthey could
helpbutunfortunately,theycouldn't.Weknowit'snotinourconstitutiontohelpdogsoverseashoweverinthisinstance we
reallyhadnochoiceduetotheverypoorconditionofthesedogsandthefactthattheyallhadwonderfultemperaments and
we knew we would be able to find them loving homes in the UK. If we hadn't of helped, they would have been put to sleep.
```
```
WeasacommitteedecidedtogoaheadandhelpthedogsandgetthemovertotheUKbutonlyontheunderstanding that
we,alongwithJane,wouldfundraisetocoverallcostsincorporatedtotheTrust.Wehavealreadyraiseda considerable
amount towards these costs.
```
## **`Fundraising activities`**
```
We attended Crufts in 2022 where we continued to raise awareness of the Trust and all that we do for our breed.
```
```
Page 1
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`REPORT OF THE TRUSTEES for the year ended 31 December 2022`**
## **`FINANCIAL REVIEW`**
## **`Financial position`**
```
2022wasagoodyearforthetrusteventhoughwehad49dogscomeinthroughouttheyearwestillmanagedtorehome 34
dogs.
```
```
Breakdown of expenditure for 2022
```
```
Kennelling Fees: £20,414.
```
```
Veterinary Fees and medicines: £12,794.
```
```
Transport: £1,282.
```
```
Printing, Postage and Stationery: £1,325.
```
```
Insurance: £427.
```
```
Income Raised: £29,553.
```
```
Attheend of2022 ourFixedAssetInvestments(SharePortfoliowithRosemount)valuationwas£920,378Ourcashatbank is
£491,250 of which Scottish Widows holds just over £25,000. This gives us an overall reserve of £1,410,710.
```
## **`Reserves policy`**
```
Attheyearendthecharityhadreservesamountingto£1,410,710.Mostofthisiscomprisedofinvestmentswhichgenerate a
steady annual income.
```
```
TheCharitystillfeelsthereisnoneedforapolicyforholdingreservesasitsincomeisstillderivedfromdonationswhich are
irregularandcannotbepredicted.Anyreservesthatareheldaredonesotoensurethecontinuedoverallwelfareof rescued
Bull Terriers in the future.
```
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
The charityisan unincorporatedassociationwhosegoverningdocument,a trustdeed,isknownasThe BullTerrierClub (UK)
Welfare Trust Constitution.
```
## **`Organisational structure`**
```
ThereshallbeaSecretaryoftheTrust,aTreasureroftheTrustandfourTrusteesatleastoneofwhomshallnotbea member
ofTheBullTerrierClubCommittee,collectivelyknownastheManagingTrustees.Theseareappointedbythecommittee of
theBullTerrierClubandoneshallbeappointedasChairmanannuallybytheManagingTrusteesinCommittee.Thereis no
requirement for a person appointed as a Managing Trustee to be a member of any Bull Terrier Club.
```
```
UnitedKingdommembershipofTheBullTerrierClubshallbesynonymouswithmembershipoftheTrustandthe members
of one shall automatically become members of the other.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Charity number`**
```
1038286
```
## **`Principal address`**
```
Westbourne
Waverley Street
Tibshelf
Alfreton
Derbyshire
DE55 5PS
```
```
Page 2
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`REPORT OF THE TRUSTEES for the year ended 31 December 2022`**
## **`Trustees`**
```
For the year ending 31st December 2022 the following people were Managing Trustees:
Chairperson: Tracey Fletcher
Honorary Treasurer: Anna Blair
Honorary Secretary: Rita Sinclair
Angela Mackechnie
Amanda Young
```
```
No other persons served as a Charity Trustee during this 2022 financial year.
```
```
The Managing Trustees have held 3 meetings this year.
```
## **`Independent Examiner`**
```
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
```
## **`Advisers`**
```
Rosemount Independent Financial Advisors Ltd of Romford, Essex manage our share portfolio.
```
```
Approved by order of the board of trustees on 25 May 2023 and signed on its behalf by:
```
```
Mrs T J Fletcher - Trustee
```
```
Page 3
```
## **`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BULL TERRIER (UK) WELFARE TRUST`**
## **`Independent examiner's report to the trustees of The Bull Terrier (UK) Welfare Trust`**
```
I reportto the charitytrusteeson my examinationof the accountsof The BullTerrier(UK)WelfareTrust(theTrust)forthe year
ended 31 December 2022.
```
## **`Responsibilities and basis of report`**
```
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
```
```
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
```
## **`Independent examiner's statement`**
```
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith the
examination giving me cause to believe that in any material respect:
```
`1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or`
`2. the accounts do not accord with those records; or`
`3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.`
```
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattentionshould be
drawn in this report in order to enable a proper understanding of the accounts to be reached.
```
## **`Use of our report`**
```
Thisreportismadesolelytothecharity'strustees,asabody,inaccordancewithPart4oftheCharities(Accounts and
Reports)Regulations2008.Ourindependentexaminationworkhasbeenundertakensothatwemightstatetothe charity's
trusteesthosematterswearerequiredtostatetotheminanindependentexaminer'sreportandfornootherpurpose.To the
fullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.
```
```
James Card
```
```
Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN
```
```
25 May 2023
```
```
Page 4
```
## **`THE BULL TERRIER (UK) WELFARE TRUST`**
## **`STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2022`**
|`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`Other trading activities`
`2`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`4`
`Charitable activities`
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`31.12.22`**
**`Unrestricted`**
**`fund`**
**`£`**
**`29,553`**
**`613`**
**`10,209`**
**`40,375`**
**`49,032`**
**`(59,075)`**
**`(67,732)`**
**`1,478,442`**
**`1,410,710`**|`31.12.21`
`Total`
`funds`
`£`
`30,686`
`722`
`10,400`|
|---|---|---|
|||`41,808`|
|||`36,183`|
|||`81,252`|
|||`86,877`
`1,391,565`|
|||`1,478,442`|
```
The notes form part of these financial statements
```
```
Page 5
```
## **`THE BULL TERRIER (UK) WELFARE TRUST`**
## **`STATEMENT OF FINANCIAL POSITION 31 December 2022`**
|`Notes`
**`FIXED ASSETS`**
`Investments`
`8`
**`CURRENT ASSETS`**
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`9`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`10`
`Unrestricted funds`
**`TOTAL FUNDS`**|**`31.12.22`**
**`Unrestricted`**
**`fund`**
**`£`**
**`920,378`**
**`491,250`**
**`(918)`**
**`490,332`**
**`1,410,710`**
**`1,410,710`**
**`1,410,710`**
**`1,410,710`**|`31.12.21`
`Total`
`funds`
`£`
`979,401`
`499,959`
`(918)`|
|---|---|---|
|||`499,041`|
|||`1,478,442`|
|||`1,478,442`|
|||`1,478,442`|
|||`1,478,442`|
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon25May2023andwere signed
on its behalf by:
```
```
T J Fletcher - Trustee
```
```
The notes form part of these financial statements
```
```
Page 6
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2022`**
## **`1. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',FinancialReportingStandard 102
'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andtheCharitiesAct2011. The
financialstatementshavebeenpreparedunderthehistoricalcostconvention,withtheexceptionof investments
which are included at market value, as modified by the revaluation of certain assets.
```
```
TheBullTerrier(UK)WelfareTrustisanunincorporatedcharity,registeredinEnglandandWales.The charity's
number and registered office address can be found on the Company Information page.
```
```
The presentation currency of the financial statements is the Pound Sterling (£).
```
```
ThetrusteesconsiderthattherearenomaterialuncertaintiesabouttheCharity’sabilitytocontinueasa going
concern.
```
## **`Income`**
```
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
```
## **`Expenditure`**
```
Liabilitiesarerecognisedasexpenditureassoonasthereisa legalor constructiveobligationcommittingthecharity to
thatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlementandtheamount of
theobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeen classified
underheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedto particular
headings they have been allocated to activities on a basis consistent with the use of resources.
```
## **`Taxation`**
```
The charity is exempt from tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
```
```
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.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.
```
## **`Investments`**
```
Investmentswhichareheldforthelongtermareincludedinthefinancialstatementsatmarketvalue.Investments are
held for the specific purpose of providing income to support the Charity's work.
```
## **`Financial instruments`**
```
Cashandcashequivalentsinthebalancesheetcomprisecashatbanksandinhandandshorttermdepositswith an
original maturity date of three months or less.
```
```
Debtorsandcreditorswithnostatedinterestrateandreceivableorpayablewithinoneyeararerecorded at
transactionprice.Anylossesarisingfromimpairmentarerecognisedin thestatementof comprehensiveincome under
administrative expenses.
```
```
Financialliabilitiesandequityinstrumentsareclassifiedaccordingtothesubstanceofthecontractual arrangements
enteredinto.Anequityinstrumentisanycontractthatevidencesaresidualinterestintheassetsoftheentity after
deducting all of its financial liabilities.
```
```
Wherethecontractualobligationsoffinancialinstruments(includingsharecapital)areequivalenttoasimilar debt
instrument,thosefinancialinstrumentsareclassedasfinancialliabilities.Financialliabilitiesarepresentedassuch in
thebalancesheet.Financecostsandgainsorlossesrelatingtofinancialliabilitiesareincludedintheprofitand loss
account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
```
```
continued...
```
```
Page 7
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022`**
## **`1. ACCOUNTING POLICIES - continued`**
## **`Investments`**
```
Wherethecontractualtermsofsharecapitaldonothaveanytermsmeetingthedefinitionofafinancialliability then
thisisclassedasanequityinstrument.Dividendsanddistributionsrelatingtoequityinstrumentsaredebiteddirect to
equity.
```
## **`2. OTHER TRADING ACTIVITIES`**
|**`OTHER TRADING ACTIVITIES`**|||||
|---|---|---|---|---|
||||**`31.12.22`**|`31.12.21`|
||||**`£`**|`£`|
|`Bull Terrier Club sub levy`|||**`613`**|`722`|
|**`INVESTMENT INCOME`**|||||
||||**`31.12.22`**|`31.12.21`|
||||**`£`**|`£`|
|`Investment income`|||**`10,156`**|`10,318`|
|`Deposit account interest`|||**`53`**|`82`|
||||**`10,209`**|`10,400`|
|**`CHARITABLE ACTIVITIES COSTS`**|||||
||||`Support`||
|||`Direct`|`costs (see`||
|||`Costs`|`note 5)`|`Totals`|
|||`£`|`£`|`£`|
|`Charitable activities`||**`38,810`**|**`10,222`**|**`49,032`**|
|**`SUPPORT COSTS`**|||||
||||`Governance`||
||`Management`|`Finance`|`costs`|`Totals`|
||`£`|`£`|`£`|`£`|
|`Charitable activities`|**`2,254`**|**`7,050`**|**`918`**|**`10,222`**|
|**`INDEPENDENT EXAMINERS' REMUNERATION`**|||||
||||**`31.12.22`**|`31.12.21`|
||||**`£`**|`£`|
|`Independent examiners' remuneration`|||**`918`**|`918`|
## **`3.`**
## **`4. CHARITABLE ACTIVITIES COSTS`**
## **`5.`**
## **`6.`**
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2022norfortheyear ended
31 December 2021.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31December2022norfortheyear ended
31 December 2021.
```
```
continued...
```
```
Page 8
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 December 2022`**
## **`8. FIXED ASSET INVESTMENTS`**
|**`FIXED ASSET INVESTMENTS`**||
|---|---|
||`Listed`|
||`investments`|
||`£`|
|**`MARKET VALUE`**||
|`At 1 January 2022`|**`979,401`**|
|`Additions`|**`52`**|
|`Revaluations`|**`(59,075)`**|
|`At 31 December 2022`|**`920,378`**|
|**`NET BOOK VALUE`**||
|`At 31 December 2022`|**`920,378`**|
|`At 31 December 2021`|`979,401`|
```
There were no investment assets outside the UK.
```
## **`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
|`Other creditors`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**|`At 1.1.22`
`£`
**`1,478,442`**
**`1,478,442`**|**`31.12.22`**
**`£`**
**`918`**
`Net`
`movement`
`in funds`
`£`
**`(67,732)`**
**`(67,732)`**|`31.12.21`
`£`
`918`
`At`
`31.12.22`
`£`
**`1,410,710`**|
|---|---|---|---|
||||**`1,410,710`**|
## **`10. MOVEMENT IN FUNDS`**
```
Net movement in funds, included in the above are as follows:
```
||`Incoming`|`Resources`|`Gains and`|`Movement`|
|---|---|---|---|---|
||`resources`|`expended`|`losses`|`in funds`|
||`£`|`£`|`£`|`£`|
|**`Unrestricted funds`**|||||
|`General fund`|**`40,375`**|**`(49,032)`**|**`(59,075)`**|**`(67,732)`**|
|**`TOTAL FUNDS`**|**`40,375`**|**`(49,032)`**|**`(59,075)`**|**`(67,732)`**|
```
continued...
```
```
Page 9
```
```
THE BULL TERRIER (UK) WELFARE TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued`**
## **`for the year ended 31 December 2022`**
## **`10. MOVEMENT IN FUNDS - continued`**
## **`Comparatives for movement in funds`**
|`At 1.1.21`
`£`
**`Unrestricted funds`**
`General fund`
`1,391,565`
**`TOTAL FUNDS`**
`1,391,565`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`41,808`
`(36,183)`
**`TOTAL FUNDS`**
`41,808`
`(36,183)`|`Net`
`movement`
`in funds`
`£`
`86,877`
`86,877`
`Gains and`
`losses`
`£`
`81,252`
`81,252`|`At`
`31.12.21`
`£`
`1,478,442`
`1,478,442`
`Movement`
`in funds`
`£`
`86,877`
`86,877`|
|---|---|---|
## **`11. RELATED PARTY DISCLOSURES`**
```
There were no related party transactions for the year ended 31 December 2022.
```
```
Page 10
```
## **`THE BULL TERRIER (UK) WELFARE TRUST`**
## **`DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 December 2022`**
||`31.12.22`|`31.12.21`|
|---|---|---|
||`£`|`£`|
|**`INCOME AND ENDOWMENTS`**|||
|**`Donations and legacies`**|||
|`Donations`|**`11,553`**|`9,582`|
|`Legacies`|**`18,000`**|`21,104`|
||**`29,553`**|`30,686`|
|**`Other trading activities`**|||
|`Bull Terrier Club sub levy`|**`613`**|`722`|
|**`Investment income`**|||
|`Investment income`|**`10,156`**|`10,318`|
|`Deposit account interest`|**`53`**|`82`|
||**`10,209`**|`10,400`|
|**`Total incoming resources`**|**`40,375`**|`41,808`|
|**`EXPENDITURE`**|||
|**`Charitable activities`**|||
|`Boarding fees`|**`20,414`**|`15,569`|
|`Vet fees`|**`12,794`**|`9,515`|
|`Transport`|**`1,282`**|`1,985`|
|`Spanish dogs`|**`4,320`**|`-`|
||**`38,810`**|`27,069`|
|**`Support costs`**|||
|**`Management`**|||
|`Insurance`|**`427`**|`415`|
|`Postage and stationery`|**`1,325`**|`208`|
|`Sundries`|**`502`**|`376`|
||**`2,254`**|`999`|
|**`Finance`**|||
|`Investment charges`|**`7,050`**|`7,197`|
|**`Governance costs`**|||
|`Independent examiners' remuneration`|**`918`**|`918`|
|`Total resources expended`|**`49,032`**|`36,183`|
|**`Net (expenditure)/income before gains and losses`**|**`(8,657)`**|`5,625`|
|**`Realised recognised gains and losses`**|||
|`Realised gains/(losses) on fixed asset investments`|**`(59,075)`**|`81,252`|
|**`Net (expenditure)/income`**|**`(67,732)`**|`86,877`|
```
This page does not form part of the statutory financial statements
```
```
Page 11
```