THE BARKER-MILL FOUNDATION UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Charity Registration Number 1045479
THE BARKER-MILL FOUNDATION CONTENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Charity's Address and Professional Advisers | 4 |
| Trustees' Annual Report | 2-5 |
| Statement ofTrustees’ Responsibilities | 6 |
| Independent Examiner's Report to the Trustees | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| NotestotheFinancialStatements | 10-14 |
THE BARKER-MILL FOUNDATION CHARITY'S ADDRESS AND PROFESSIONAL ADVISERS FOR THE YEAR ENDED 31 MARCH 2025
| Principal Office and Contact | The Estate Office |
|---|---|
| Address | Longdown |
| Marchwood | |
| Southampton | |
| Hampshire | |
| $040 4UH | |
| Bankers | Barclays Bank Plc |
| Winchester Branch | |
| 50 Jewry Street | |
| Winchester | |
| Hampshire | |
| S023 8RG | |
| Solicitors | Boodle Hatfield |
| 240 Blackfriars Road | |
| London | |
| SE1 8NW | |
| Independent Examiners | RSM UK Tax and Accounting Limited |
| 400 Avebury Blvd | |
| Milton Keynes | |
| Buckinghamshire | |
| MK9 1BP | |
| Investment Advisers | Benchmark Financial Planning Limited |
| Victoria Gate | |
| Victoria Road | |
| Winchester | |
| Hampshire | |
| $023 7DU | |
| Managing Agents | Longdown Management Limited |
| The Estate Office | |
| Longdown | |
| Marchwood | |
| Southampton | |
| Hampshire | |
| $0404UH |
1
THE BARKER-MILL FOUNDATION TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025
Report of the Trustees
The Trustees present their report and the financial statements for the year ended 31 March 2025. It is. an unincorporated charity and the Trustees have chosen to prepare the financial statements on an accruals basis.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's trust deed, the Charities Act 2011 and "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 the Republic of lreland (FRS102)" (as amended for accounting periods commencing from 1 January 2019).
Structure, governance and management
The Charity's governing document is the Declaration of Trust made on 27 March 1995.
The Charity was registered with the Charity Commissioners on 3 April 1995 (Charity Number 1045479) and was named in the register as the "Peter Barker-Mill Memorial Charity". The name of the Charity was changed from the "Peter Barker-Mill Memorial Charity" to "The Barker-Mill Foundation" on 20 October 2010.
Charity number: 1045479
Registered office: The Estate Office, Longdown,Marchwood, Southampton Hampshire SO40 4UH
The advisers to the Charity are:
Independent Examiner: Sharon Monteith (Chartered Accountant) The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited 100 Avebury Bivd, Milton Keynes Buckinghamshire, MK9 1BP Bankers: Barclays Bank Pic, Winchester Branch, 50 Jewry Street Winchester, Hampshire, S023 8RG Solicitors: Boodle Hatfield, 240 Blackfriars Road, London, SE1 8NW Investment advisers: Benchmark Financial Planning Limited, Victoria Gate, Victoria Road, Winchester, Hampshire, SO23 7DU
The Trustees serving during the year (except where indicated) and up to the date of signature of the financial statements were:
SM J Barker (Chairman) RM Moyse C Gwyn-Evans
C S Jackson (appointed 11 April 2025)
Carl Jackson was appointed as a Trustee on 11 April 2025 to serve alongside the three ongoing Trustees listed above. Carl Jackson is a Chartered Accountant and is the current Chair of the Barker-Mill Family Trusts. New Trustees are appointed under the procedures set out in the Charity's Trust Deed and the Charity's solicitors document the process.
2
:
THE BARKER-MILL FOUNDATION TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Objectives and activities for the public benefit
The Charity was set up in 1995 by members of the Barker-Mill family in memory of their father and grandfather, Peter Barker-Mill. The family owns (mainly in Trust) large areas of land and property in Hampshire on the western edge of Southampton, the lower Test Valley and the eastern and southern edges of the New Forest. The principal aim of the Charity was to provide financial support and assistance to local organisations and individuals in these areas. This principal aim remains to this day. The stated objects of the Charity are to apply its income, by way of donations paid to or for such purposes as the Trustees shall, in duly constituted meetings, decide. In advancing the objects of the Charity, the Trustees may expend the whole or any part or parts of the capital of the trust fund at their absolute discretion.
Under the direction of the Trustees, donations will be made to assist with both specific and general funding requirements based on applications received meeting the necessary criteria and subject to the availability of funds. More specifically, most of the Trustees' support goes to local charities, schools and organisations. The Trustees give priority to those in the more deprived local areas. The Trustees also support local medical research and the arts and do not as a general rule support national charities or charities and organisations with no presence in Hampshire.
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing their aims and objectives.
The Trustees aim to fund the above donations by drawing income from investments that are income producing whilst also retaining the flexibility to drawdown capital from the Charity’s investment portfolio as and when required.
Achievements and performance: delivering public benefit
The Trustees do not place any limitation on the amount to be donated to any one applicant but in most cases will not exceed £5,000 to a single recipient in any one year. From time to time the Trustees pledge to make donations to projects dependent on other funding being obtained. To avoid making open ended commitments these are time limited to two years. Also, the Trustees sometimes agree to make a series of annual donations. The Trustees do not set any target or limitation on the total amount to be donated in any one year but generally would not be prepared to deplete the net assets of the Charity in the medium to long term.
Donations were made during the year amounting to £64,008 (2024 - £40,600) as detailed in note 3 to the accounts. Total donations made or pledged to date amount to £5,050,691 (2024 - £4,986,683). The Trustees are proud to have exceeded the £5m figure for total donations made since the Charity was founded.
Many of the donations made this year have been to support local youth and sporting organisations. The Trustees are mindful of the funding challenges which smaller groups face and are keen to continue supporting local need. Several scout groups were recipients of funds along with a number of pre-schools and school Parent - Teacher Associations. The Trustees are mindful of the importance of local communities and one of the donations made was £5,000 to Colbury Memorial Hall to fund work to survey and repair broken drains and to address flood risks and in addition to fund roof and guttering repairs. Colbury Hall Trustees and all hall users benefitted from this financial support. The Treasurer wrote: "thanks to their kind generosity the works were completed in 2024/2025 and will prevent further problems and keep Colbury Memorial Hall in good repair for future generations". 3
THE BARKER-MILL FOUNDATION TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Monitoring achievement and performance
The Trustees aim to foster good relationships with local beneficiaries and work with the local parishes and schools in order to provide benefits to the communities. Funding application are via a dedicated website www.barkermillfoundation.com. The Charity is committed to maintaining its relationships with the beneficiaries it supports and often stays in touch with the individual organisations long after the donation has been made. The Trustees can then see how the funds have been applied and the difference they have made. Since the Charity started in 1995, some local groups have benefitted on multiple occasions, including Friends of Minstead Study Centre, who received £1,000 in March 2025 and who first received support from the Barker-Mill Foundation in 2008.
Financial review
The initial funds paid into the Charity during the year ended 5 April 1996 totalled £1,920,100. As detailed on page 14, the net funds at 31 March 2025 amounted to £2,874,289 (2024: £2,856,346). The Trustees are always mindful of the value of the Charity's investment portfolio when making donations and aim to avoid sales from the portfolio in depressed markets.
It is the policy of the Trustees to keep sufficient funds in readily realisable investments to meet expenditure needs. The Trustees have the discretion to distribute both income and capital from the fund, however they manage the Charity's assets prudently to preserve the asset base for the future, particularly when financial markets are volatile and the investment portfolio value is adversely impacted (see the paragraph above).
Income from investments of £58,913 (2023 - £60,994), along with bank deposit interest receivable, provided the total incoming resources for the Charity during the year (as set out in note 2).
Liquidity
At the year end, the Charity had cash in the bank of £10,876 (2023 - £9,180). As noted above, the Trustees retain funds in readily realisable investments to manage cashflow requirements. The Trustees have a borrowing arrangement which enables them to manage cashflow and investment sales such that adverse stock market conditions do not result in avoidable losses.
Investment policy and performance
The Trustees have appointed investment managers to manage the Charity's portfolio on a Total Return structure within a Balanced Risk Mandate with no specific geographical theme or sector allocation preferences. The portfolios are designed to be run on a Multi Asset Class basis. As part of the mandate the Trustees require that investments held should be marketable. The Trustees receive valuation reports and meet with investment managers on a quarterly basis.
The Trustees’ objectives with regard to investments are to generate a total return on the overall investment portfolio in the medium to long term. The policy of balancing the portfolio held and managing it on a total return structure and with a balanced risk mandate is designed to even out the impact of market variations over the medium term. In the last five years, the Trustees have purposefully scaled back the level of donations pledged to reduced the requirement for disinvestment while financial markets are volatile.
4
THE BARKER-MILL FOUNDATION TRUSTEES' ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Administrative information
The Charity's principal office address is detailed on page 1 along with the details of the professional advisers.
The Trustees (as set out on page 2) are responsible for administering the Charity's funds and affairs. The Charity has no salaried employees.
None of the Trustees receive remuneration or other benefit from their work with the Charity. Any connection between a Trustee of the Charity with a donation recipient must be disclosed to the board of Trustees in the same way as any other contractual relationship with a related party. Please see note 8 to the accounts.
S M J Barker - Trustee For and on behalf of the Trustees
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Date 3\ 12 QS.
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THE BARKER-MILL FOUNDATION STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025
The Trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.) The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the Trust Deed.
The Trustees are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemmination of financial statements.
S M J Barker - Trustee
For and on behalf of the Trustees
Date 2,| ial QS
6
Sharon Monteith
10-Dec-2025
THE BARKER-MILL FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds | Funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income: | |||
| Incoming resources from generated funds: | |||
| Investment income | 2 | 60,163 | 62,344 |
| Total income | 60,163 | 62,344 | |
| Expenditure: | |||
| Expenditure on charitable activities: | |||
| Charitable donations | 3 | 64,008 | 40,600 |
| Cost of raising funds | 4 | 17,536 | 15,874 |
| Governance costs | 5 | 27,495 | 26,301 |
| Total expenditure | 109,039 | 82,775 | |
| Net expenditure before gains on investments | (48,876) | (20,431) | |
| Unrealised gains on investments | 6 | 57,715 | 239,696 |
| Profit/(Loss) on sale of investments | 6 | 9,104 | (335) |
| Net income and net movement in funds | 17,943 | 218,930 | |
| Total funds broughtforward | 9 | 2,856,346 | 2,637,416 |
| Totalfundscarriedforward | 9 | 2,874,289 | 2,856,346 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
8
THE BARKER-MILL FOUNDATION BALANCE SHEET AS AT 31 MARCH 2025
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2025 2024
Notes £ £ £ £
Fixed assets:
Investments 6 2,882,473 2,869,609
Current assets:
Cash at bank and in hand 10,876 9,180
Current liabilities:
Creditors due within one year 7 (19,060) (22,443)
Net current liabilities (8,184) (13,263)
Total assets less current liabilities 2,874,289 2,856,346
Net assets 2,874,289 2,856,346
The funds of the Charity:
Unrestricted funds 9 2,874,289 2,856,346
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The financial statements were approved by the Trustees on —ahalas
S MJ Barker - Trustee For and on behalf of the Trustees
9
THE BARKER-MILL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting Policies
(a) Basis of preparation and assessment of going concern
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
This is an unincorporated charity and it is registered and domiciled in England.
The financial statements have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the accounting policies set out in this note (below) and comply with the Charity's trust deed, the Charities Act 2011 and "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 the Republic of Ireland (FRS102)" (as amended for accounting periods commencing from 1 January 2019).
The Charity has. adopted the Charities SORP (FRS102) issued in October 2019 rather than applying the Charities 2005 SORP which has been withdrawn but is still referred to in the extant Charities (Accounts and Reports) Regulations 2008. This departure has been necessary for the financial statements to show a true and fair view in accordance with United Kingdom Generally — Accepted Accounting Practice effective for accounting periods beginning on or after 1 January 2019.
The Charity constitutes a public benefit entity as defined by FRS102.
Monetary amounts in these financial statements are rounded to the nearest £.
The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern for at least twelve months from the date of signing the financial statements. The key area of uncertainty affecting the carrying value of assets held by the Charity is the performance of investments held and hence the income generated and valuation of the investments (see the investment policy and performance section of the Trustees’ annual report for more information).
(b) Funds structure
Having due consideration for the objects of the Charity as set out in the Declaration of Trust, the Trustees consider all funds to be unrestricted.
(c) Income recognition
Investment income represents amounts receivable during the year. Donated assets are capitalised at valuation and recognised in the Statement of Financial Activities when receivable.
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1 Accounting Policies (continued)
THE BARKER-MILL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
(d) Expenditure recognition
Expenditure is analysed into such categories so as to reasonably enable the user to gain an insight into the activities undertaken by the Charity and the expenditure allocated to these in relation to the benefit they provide.
Charitable activities include resources expended associated with the furtherance of the Charity’s objectives and any support costs associated with those activities.
Charitable donations are payments to third parties in furtherance of the Charity’s objectives. The donations are accounted for where the Trustees have agreed to pay the donation without condition and the recipient has a reasonable expectation that they will receive the donation.
Support costs comprise the costs of running the Charity, including strategic planning for its future development, and also external examination, any legal advice and costs of complying with constitutional and statutory requirements.
The Charity is not VAT registered and therefore all expenditure items are inclusive of irrecoverable VAT where applicable.
(e) Fixed asset investments
investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions.
(f) Liabilities
Liabilities are recognised within the financial statements in respect of all expenditure for which the entity has a measurable obligation, be it constructive or legal, at the balance sheet date.
(g) Realised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
| 2 | Investment Income | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Bank interest | 1,250 | 1,350 | |
| Other investment income | 58,913 | 60,994 | |
| 60,163 | 62,344 |
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THE BARKER-MILL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
3 Charitable Donations
| The following donations have been made or pledged to organisations during the year: | |
|---|---|
| 2025 | |
| £ | |
| 13th Southampton Scout Group | 500 |
| 21st RomseyScout Group | 2,000 |
| Ath Eling Sea Scouts | 1,000 |
| Acorns Community Preschool, Totton | 1,000 |
| AFC Totton Women and Girls | 1,000 |
| Autism Hampshire | 1,500 |
| Baby Necessities Southampton | 4,000 |
| Birds of Poole Harbour | 500 |
| Bumblebee Conservation | 500 |
| Colbury Memorial Hall | 5,000 |
| Families Matter Hythe | 1,500 |
| Fluid Motion Theatre | 1,000 |
| Friends of Calmore Infant School | 1,000 |
| Friends of Minstead Study Centre | 1,000 |
| Guys and StThomas's Hospital | 500 |
| Hearing Dogs for the Deaf | 1,000 |
| Knepp Wildland Foundation | 500 |
| Leweston Schoo! | 6,150 |
| Marchwood Church of England Infant School PTA | 2,000 |
| Marchwood Fete Steering Group | 1,500 |
| Marchwood Junior School PTA | 2,000 |
| Maybush Monkeys Playgroup | 1,000 |
| Mounbatten Hampshire Hospice | 500 |
| New Forest Bike Project | 1,000 |
| No Limits (Southampton) | 1,000 |
| Nursling and Rownhams Parochical Church Council | 293 |
| Oakhaven Hospice | 2,000 |
| Oasis Academy (City Community Farm) | 2,000 |
| One Small Thing (Hope Street) | 500 |
| Raybel Charters | 2,500 |
| Roverang Scout and Guide Group | 1,000 |
| Samuel! Courtauld Trust | 3,500 |
| Southampton Hospital Charity | 65 |
| Southampton Sight | 500 |
| St Mary Magdalene Music Society | 5,000 |
| Step ByStep Partnership | 4,000 |
| The Bike Experience | 4,000 |
| Twiggs Lane Pre-School | 1,000 |
| Youth and Families Matter | 2,000 |
| YouthOptions | 1,000 |
In addition, the following donation was made to local individuals in the year: G,P and W Abraham (Farmers affected by fire at their farm) 5,000 64,008
{2
THE BARKER-MILL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
| 4 | Cost of raising funds | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Investment management fees | 17,476 | 15,814 | |
| Other professional fees | 60 | 60 | |
| 17,536 | 15,874 | ||
| 5 | Governance costs | 2025 | 2024 |
| £ | £ | ||
| Management fees | 17,142 | 18,418 | |
| Legal and professional fees | 5,363 | 2,730 | |
| Insurance | 1,549 | 1,441 | |
| Sundryexpenses | 101 | 400 | |
| Accountancy fees paid to Independent Examiner | 3,300 | 3,300 | |
| Bank interest | 40 | 12 | |
| 27,495 | 26,301 | ||
| 6 | Investments | Listed | |
| investments | |||
| £ | |||
| Fair value | |||
| At 1 April 2024 | 2,869,609 | ||
| Purchases | 268,546 | ||
| Accumulation and excess reportable income | 8,704 | ||
| Profit on sale of investments | 9,104 | ||
| Unrealised gains on investments | 57,715 | ||
| Equalisations | (436) | ||
| Movement on cash deposits | (3,410) | ||
| Sales | (327,359) | ||
| At 31 March 2025 | 2,882,473 | ||
| Cash | 22,299 | ||
| Listed investments | 2,860,174 | ||
| 2,882,473 | |||
| Historical cost | |||
| At 31 March 2025 | 2,082,861 | ||
| At 31 March 2024 | 2,085,719 | ||
| Investments amounting to 5% or more ofthe total marketvalue | value at the year end | are as follows: | |
| SE! GAF Balanced Fund | 14.8% | ||
| SGAF Aggressive Fund | 18.0% | ||
| SGAF Growth Fund | 26.9% | ||
| BlackrockCharities-UKEquityFund | 15.6% |
13
THE BARKER-MILL FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
6 Investments (continued)
All investments are carried at their fair value. Investments in equities and fixed interest securities are all traded in quoted public markets, primarily the London Stock Exchange. Holdings in common investment funds, unit trusts and open ended investment companies are at the bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).
| 7 | Creditors due within one year | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| Sundry creditors | 14,304 | 17,728 | |
| Accruals. and deferred income | 4,756 | 4,715 | |
| 19,060 | 22,443 |
8 Transactions with Trustees and Connected Persons
Longdown Management Limited, a company in which C Gwyn-Evans and S Barker are directors, received £17,142 (2024 - £18,418) during the year for management services. Of this amount, £7,081 (2024: £7,659 ) remained outstanding at the year end.
No other payments were made to Trustees or connected persons of the Charity during the year.
9 Funds
| Funds | Unrestricted | funds |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Balance brought forward | 2,856,346 | 2,637,416 |
| Net movement in funds | 17,943 | 218,930 |
| Balancecarriedforward | 2,874,289 | 2,856,346 |
Unrestricted funds represent funds available to meet the objectives of the Charity without further specified purpose and which are available as general funds.
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