| Page | ||||||
|---|---|---|---|---|---|---|
| Refereace and Administrative | Details ofthe Charity, | its Trustees and Advisers | ||||
| Trustees' Report |
2 - 10 | |||||
| Independent | Auditors' | Rcport | on thc Financial Statements | |||
| Consolidated | Statement | ofFinancial Activities | ||||
| Consolidated | Balance | Sheet | 16 | |||
| Charity Balance Sheet | 17 | |||||
| Consolidated | Statement | ofCash Flo»s | ||||
| I%ates to the | Financial | Statements | 19 - 39 |
| Rcfcrcncc and Administrative | Rcfcrcncc and Administrative | Rcfcrcncc and Administrative | Rcfcrcncc and Administrative | Details ofthc Charity, | Details ofthc Charity, | Its Trustccs and Advisers | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| For the Year Ended 31 March 2023 | ||||||||||
| Tl'ilstees | P C Van Dcn | Houtcn | (rcsignial | I I Novcmbcr 2022) | ||||||
| J M Williams | ||||||||||
| J J Sandbach | (resigned | I I November 2022) | ||||||||
| T Hethenngton | ||||||||||
| JRMycock | ||||||||||
| R G Pulford | ||||||||||
| V Batillova (appointed | 28 July | 2023) | ||||||||
| Z C Dunbar (appomted | 28 July | 2023i | ||||||||
| A G Palmer | ||||||||||
| SP Wood | ||||||||||
| Company | registered | number | 03053689 | |||||||
| Charity | registered | number | I048581 | |||||||
| Registered | office | Manchester Art |
Gallery | |||||||
| Motley Strcct | ||||||||||
| Manchester | ||||||||||
| M2 3JL | ||||||||||
| Company | secretary | JL Bcggs | ||||||||
| Independent | auditors | Hurst Accountants | Lnmted | |||||||
| Chartered Accountants |
& Statutory Auditors |
|||||||||
| Lancashire Gate |
||||||||||
| 21 Tiviot Dale | ||||||||||
| Stockport | ||||||||||
| Cheshire | ||||||||||
| SKI ITD | ||||||||||
| Bankers | Virgin Money | |||||||||
| 48-50 Market Street | ||||||||||
| Manchester | ||||||||||
| Ml IPW |
| Total | 70/0/ | ||||||
|---|---|---|---|---|---|---|---|
| liorestrlcted funds |
Restricted funds |
funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| Note | |||||||
| Incume from: | |||||||
| Donations and legacies |
54,521 | 2,210 | 81.731 | 429,503 | |||
| (.:hantable acti utica | 48,016 | 105,765 | 153,781 | 2/2, 225 | |||
| Other tradmg | activities | 1.023 175 | 1,023 775 | 71.1,//8 9 | |||
| Invest/nests | 27,645 | 27,645 | /76 | ||||
| Total income | 1,153,557 | 132,975 | 1486,532 | /,394,993 | |||
| Expenditure | on: | ||||||
| Raismg funds | 966,943 | 40398 | 1,007341 | 700,4/5 | |||
| Chantable activities |
71,426 | 215,081 | 286,507 | 257,732 | |||
| Total expenditure | 1,038769 | 255,479 | 1493,848 | 958,/47 | |||
| Net movement | In funds | 115,188 | (122,504) | (7416) | 436,846 | ||
| Reconciliation | offunds: | ||||||
| Total funds brought | forward | 976,448 | 511,211 | 1,487,659 | /,050.8/3 | ||
| Nct movcmcnt | in funds | 115,188 | (122,504) | (7316) | 43/, 846 | ||
| Total funds carried | forward | 1.091,636 | 388,707 | 1,480043 | /,487.659 |
| Consolidated | Balance Sheet | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| As at 31 | March 2023 | |||||||||
| 2023 | 2022 | |||||||||
| ~ote | ||||||||||
| Fixed assets | ||||||||||
| Tangible | assets | 14 | 87,677 | /22. 2/3 | ||||||
| Current | assets | |||||||||
| Stocks | 16 | 10,922 | ||||||||
| Debtor~ | 17 | 52,461 | I 78',/87 | |||||||
| Cash at bank | and m | hand | 1,887,038 | /..193,675 | ||||||
| 1,95tl,421 | /, 775,858 | |||||||||
| Creditors | amounts | falhng | due within | one year | (557,755) | (4mi 4.12/ | ||||
| Net current | assets | 1 392,666 | /.56.5,426 | |||||||
| Total net | assets | 1,480343 | /,487,659 | |||||||
| Charity funds | ||||||||||
| Restncted | funds | 3811,707 | 5//. 2/I | |||||||
| Unrestricted | funds | 19 | 1,091,636 | 976.448 | ||||||
| Total funds | /,480+43 | /. 48'7, 65V |
| (A Company | Limited | by Guarantee) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Rcgistcrcd | number: | 03053689 | |||||||||
| Charity | Balance Sheet | ||||||||||
| As at | 31 March 2023 | ||||||||||
| 2023 | 2022 | ||||||||||
| ~ote | |||||||||||
| Fixed assets | |||||||||||
| Investments | 15 | ||||||||||
| Current assets |
|||||||||||
| Debtors | 17 | 68„189 | 340,376 | ||||||||
| Cash at bank | and in hand | 1,497,610 | /, /73, v67 | ||||||||
| 1,565,999 | /,3/4.343 | ||||||||||
| Creditors amounts |
falhng | due withm | one year | (203,67I ) | /2/ | I5,2/8/ | |||||
| Net current | assets | 1362328 | /,298./23 | ||||||||
| Total net assets | 1„362329 | /,298,/27 | |||||||||
| Charity funds | |||||||||||
| Restricted t'unde |
19 | 322„171 | 43/, /06 | ||||||||
| Unrestncted | funds: | ||||||||||
| Gcncral funds | 19 | 1,039,958 | 867,i)2/ | ||||||||
| Total unrestncted | funrks | 19 | 1,039,958 | 867,02/ | |||||||
| Total funds | 1362329 | /,298/27 |
| Coosolidated | Coosolidated | Statement ofCash Flows | |||||||
|---|---|---|---|---|---|---|---|---|---|
| For the Year Ended 31March 2023 | |||||||||
| 2023 | 2022 | ||||||||
| Note | 6 | ||||||||
| Cash flows from operating | activities | ||||||||
| Net cash used m operating | activities | 21 | 282,482 | ||||||
| Cash fluws frum investing | activities | ||||||||
| Dividends, mieresi and rents |
I'rom mvestments | 28244 | /76 | ||||||
| Proceeds from the sale cftangible tixed assets |
.5,975 | ||||||||
| Purchase oftangible fixed |
assets | (17379) | /Gg G53/ | ||||||
| Net cash provided by/(used |
in) investing | activities | 10,865 | (63,502) | |||||
| Cash flows from flnancing | activities | ||||||||
| Net cash provided by tlnancing activities |
|||||||||
| Change in cash and cash equivalents |
in | the year | 293„147 | 579,601 | |||||
| Cash and cash equivalents | at the beginmng | ofthe year | 1,593,675 | /,014.072 | |||||
| Cash and cash equivalents | at the end | of | the year | 22 | 1,887,022 | /,593,675 | |||
| Thc notes on pages 19to 39 | form part ofthcsc financial | statcmcnt |
| 6. | Income from trading | Income from trading | activities | activities | ||||
|---|---|---|---|---|---|---|---|---|
| incorae frora aon charitable | trading | activities | ||||||
| Unrcstrictcd funds 2023 |
Total funds 2023 |
/olo/ /los/I 2/I' |
||||||
| f | f | |||||||
| Catering, cvcnts and vcnuc hire | 1.02,375 | 1,023375 | 753,089 | |||||
| Total 2023 | 1,023,375 | 1,023375 | 7.t3,0,'IO | |||||
| Toto/?022 | ||||||||
| 753 0//9 | 753 089 | |||||||
| 7. | investment | income | ||||||
| Unrestricted | Total | /onl/ | ||||||
| funds | funds | Trust/J | ||||||
| 21123 | 2023 | 202 | ||||||
| Investment mcome - other local |
unbated | (600) | (600) | |||||
| Income from | bank deposits | 28,245 | 28,245 | /76 | ||||
| Total 2023 | ||||||||
| 27,645 | 27,645 | /76 | ||||||
| Toto/?022 | /76 | /76 |
| Unrestricted | Total | fo(n/ | |||||||
|---|---|---|---|---|---|---|---|---|---|
| funds | Restricted | funds | funds | f | |||||
| 2023 | 2023 | 2023 | 2022 | ||||||
| Cost of | sales and admiiustrative | expenses | 413,899 | 454,197 | /6'3, 357 | ||||
| Wages | and salancs | 476,313 | 478313 | 445,240 | |||||
| National | msurance | contnbutions | 28,5(i3 | 28,563 | 26.252 | ||||
| Pension | costs | 7,561 | 7,561 | 7,Vo.t | |||||
| Depreciation oftangible | fixed assets | 38,607 | 38,607 | 35.53/ | |||||
| Total 2023 | 40,398 | 1,007„141 | ,nn, 4/5 | ||||||
| To(n/ 2022 | 6/7,245 | 83,/ | 70 | 7(&0,4(5 |
| Unrestricted | ||||||
|---|---|---|---|---|---|---|
| funds | Restricted | funds | Total | folv | ||
| 2023 | 2023 | 2023 | 202 | |||
| f | 8 | |||||
| (iallerv | 26,700 | 26,700 | /30, 9/5 | |||
| Exhibitions | it(6,885 | 69,6'25 | ||||
| Fnends scheme | 26 | 26 | 457 | |||
| Other fundraismg | 3,485 | 3,485 | 3,403 | |||
| Acqu&sit&ons | 8,196 | 28,196 | 35,/79 | |||
| Ciovernance | 41,215 | 41,215 | l8959 | |||
| Total 2023 | 71,'l26 | 215,0111 | 286,507 | 75 | 737 | |
| D&/(n/ 2022 | l54,737 | /02, 995 | 257,732 |
| Acti v | it/as | ||||||
|---|---|---|---|---|---|---|---|
| undertaken | Total | 7'on/ | |||||
| directly | Support | costs | funds | /I II1i/i | |||
| 2023 | 2023 | 2023 | 2//2 | ||||
| f | f | ||||||
| Gallery | 26,700 | 26,700 | /30, 9/8 | ||||
| Exhibitions | 186,885 | 186,8t15 | 69.//25 | ||||
| Friends schcmc | 26 | 26 | 4.57 | ||||
| Otiier fundraismg | 3,4/i5 | 3,485 | 5.403 | ||||
| Acquisitions | 28,196 | 28,196 | 55./70 | ||||
| Governance | 41,215 | 41,215 | /9.959 | ||||
| Total 2023 | 245,29 | 41,215 | 286,407 | 25, ,32 | |||
| To/u/ 202? | |||||||
| 257,775 | 257,732 | ||||||
| Analysii ofsupport |
costs |
| Total | To/n/ | |||
|---|---|---|---|---|
| (:overnsnce costs | funds | fnndi | ||
| 2023 | 2023 | 2022 | ||
| 8 | 6 | |||
| Audit fees | 1?,09/i | 12,090 | / / 3 1/3 |
|
| Accountancy | fees | 29,087 | 29,087 | 8,287 |
| Bank charges | 38 | |||
| Total 2023 | 41,213 | 432/5 | /9, g59 | |
| To/ii/ 2022 | /9,959 | /9, 959 |
| 2023 | 202 i | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| f | 6 | ||||||||||||
| Fccs payablc to thc Chanty's | auditor | for | thc | audit ofthc | Charity's | annual | accounts | 12,090 | 7(,.i50 | ||||
| Fees payable to the Charity's | auditor | in respect of. | |||||||||||
| Taxation scrvicc | not mcludcd | above | 710 | .550 | |||||||||
| Staffcosts | |||||||||||||
| Group | Group | ||||||||||||
| 2023 | 2022 | ||||||||||||
| f | 6 | ||||||||||||
| Wages and salanes | 478013 | 445,240 | |||||||||||
| Social secunty costs | 28,563 | 26.252 | |||||||||||
| Contribution | to defined | contribution | pension | schemes | 7361 | 7,005 | |||||||
| 814,437 | 478,497 | ||||||||||||
| The iiverage | number of | persons | employed | hy | the 1'banty | during | the year | ass as fogovvv | |||||
| Group | Group | ||||||||||||
| 2023 | 2022 | ||||||||||||
| ~o. | N | ||||||||||||
| Employees | 40 | 35 |
| Long-term | |||||
|---|---|---|---|---|---|
| leasehold | Plant snd | Computer | |||
| property | machinery | OAice equipment | equipment | Total | |
| 2 | 5 | 8 | |||
| Cost or valuation | |||||
| At I Apnl 2022 |
21310 | 84300 | 37,840 | 197,793 | |
| Additions | 4,812 | 12467 | 17479 | ||
| Disposal s | (10,850) | (5,489) | (1,130) | (7,451) | (24.920) |
| At 31 March 2023 | 10,460 | 83423 | 49,277 | 190,252 | |
| Depreciation | |||||
| At I Apnl 2022 |
3,460 | 42,955 | 9,689 | 19,456 | 75,560 |
| Charge for the year | 3,11" | 10244 | 8,801 | 16,44( | 38,607 |
| On dixpoxals | (3,798) | (3,422) | (105) | (4.267) | (11,592) |
| At 31 March 2023 | 2,779 | 49,777 | 18„185 | 31,634 | 102,575 |
| Net book value | |||||
| At 31 March 2023 | 7,681 | 31,746 | 30,892 | 15ii8 | 87,677 |
| Al 31March 2022 | 47,810 | 4(745 | 28(57 | 54,987 | 422,233 |
| Investments In |
|
|---|---|
| subsidiary | |
| companies | |
| Charity | |
| Cost or valuation | |
| At I Apt d 2022 | 4,002 |
| Amounts wntten olf |
|
| At 31 March 2023 | |
| 4,001 | |
| Impairment | |
| At I Apnl 2022 | 4,000 |
| At 31 March 20 3 | |
| 4,000 | |
| Net hook value | |
| At 31 March 2023 | |
| Ar31March 2022 |
| Group | 4ronp | ||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Fmished | goocts | and | goocis | for | resale | 10,922 | 3,996 |
| Group | Group | Company | Componv | ||
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| f | 6 | ||||
| Due within one veer | |||||
| Trade debtors | 44,980 | 84.980 | 5,478 | 6,875 | |
| Amounts owed by group undertakings |
61,133 | 33(,738 | |||
| Other debtors | 1,128 | 88482 | 1,778 | /, 763 | |
| Prepayments | and accrued mcome | 4+53 | 4,72.1 | ||
| 52,461 | /78, /87 | 340,376 |
| Group | Group | Company | Componv | |||
|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||
| f | 6 | |||||
| Bank overdrafts | 16 | |||||
| Trade creditors | 17,075 | Is,Z53 | 37 | 2447 | ||
| Other taxation | and social security | 43,678 | 47,804 | |||
| Other creditors | 133492 | 27,827 | 9,974 | 7.m/2 | ||
| Accruals and deferred |
income | 363„194 | 3/6,548 | 193,660 | 205,969 | |
| Z/6, 2(8 | ||||||
| 557,755 | 4/0, 432 | 203,671 |
| Group | Group | Company | Company | |||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | |||||
| f | f | f | f | |||||
| Deferred m come |
at I Apn |
I 2022 | 315,94)l | )27,060 | 205,969 | 53.974 | ||
| Resourcm defened dunng |
the year | 485,166 | 31.5,940 | 195378 | 203,969 | |||
| Amounts released |
from prewous | penoctv | (315,948) | ()27,0601 | (205,969) | 153.974) | ||
| 20.5.969 | ||||||||
| 405,166 | 31.5,948 | 19(378 | ||||||
| 19. | Statement offunds | |||||||
| Statement of |
funds - current | year | ||||||
| Balance at I | Balance at 31 | |||||||
| April 2022 | Income | Etpcndlturc | March 2023 | |||||
| f | ||||||||
| Unrestricted | funds | |||||||
| General funds | 976,448 | 1,151,556 | U,038169) | 1,091,635 | ||||
| Unallocated amounts |
||||||||
| Balance at I | Balance at 31 | |||||||
| April 2022 | Income | Expenditure | March 2023 | |||||
| f | f | f | f | |||||
| Restricted funds |
||||||||
| Zochonts Trust |
51576 | 20,(H)0 | 73,576 | |||||
| Clore Duffield Foundation | (Learning &Engagement) | 16,000 | 16,000 | |||||
| Assheton Bennett |
15,(73 | 15,173 | ||||||
| National Archives |
1(,IHIO | 15,000 | ||||||
| Oglesby Chantable Trust |
61,26( | (39,(36) | 21,729 | |||||
| Paul Mellon - Spccch Acts | 2377 | 2377 | ||||||
| University of Manchester |
(Suzanne Lacy) | 5500 | 5,500 | |||||
| GMCA (AoR Project) | 14,000 | 14,(H)0 | 28,000 | |||||
| Hentage Lottery |
Fundmg | - Collectmg Cultures | 70 | 70 | ||||
| Dcrck Jarman | 54,741 | (49,741) | ||||||
| Culture Recovery |
Fuud | (40398) | 39,636 | |||||
| Hcadlcv Trust | 20,000 | 10,(H)0 | (27,797) | 2,203 | ||||
| Franco Wmham | (Makmg | Cimv emationv) | z,nnn | (z,nnn) | ||||
| Paul Hamlyn Foundation |
55 | |||||||
| National Hentage |
I'und (Tradmg | Stations) | (568) | |||||
| Platt Hall Project | (10,601) | (1,110) | ||||||
| Fashion Gallery | 193465 | (35.6(3) | 157,612 | |||||
| Other iinmaterial | restricted | pioject funds | 49,861 | 7,210 | (49,185) | 7,886 |
| Statement | of | funds | funds | - | current year (continued) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at I | Balance at 31 | ||||||||||
| April 2022 | income | Expenditure | March 2023 | ||||||||
| f | f | f | |||||||||
| 511,211 | 132,975 | (255,479) | 388,707 | ||||||||
| Total offunds | 1,487,659 | 1,286 532 | (1,293,848) | 1,480„343 | |||||||
| Statement | of | funds | —prior year | ||||||||
| Be/alii | I'. Ilt | Ba/ance a( | |||||||||
| / .4pri/ | 2021 | /ncome | Etpcndi nire | Transfers | mtoa( | 3/ Varcn 2022 | |||||
| f | 6 | ||||||||||
| Unrestricted | funds | ||||||||||
| Gcncral Funds | 4/n, h'47 | /, 035,3/6 | (77i 982i | l(i2 267 | 976,448 | ||||||
| Restricted funds |
|||||||||||
| Zochonn Trust |
90,nnn | (36,424/ | 53.576 | ||||||||
| Clorc Dutiicld | Foundation | (Learning & | |||||||||
| Engagement) | /0, 000 | 6,000 | 16,linn | ||||||||
| Axshctun Bcnncu |
15,/7i | /.5,I73 | |||||||||
| ~ational Archives |
14.263 | (/4, 263/ | |||||||||
| Oglesby Charitable | Trust | rn, nnn | (40,0nni | ||||||||
| Paul Mellon - |
Speech Acts | 3,377 | I /, IIIVI/ | 2377 | |||||||
| Graysons Art |
Club | I03.57 | (16,.1571 | ||||||||
| Umversity of |
Manchester | (Sucanne Lacy) | 9,400 | (9,400/ | |||||||
| CiMCA (AoR | Project) | /4,000 | ir,non | ||||||||
| Hentage Lottery | Fundmg | -Collectmg | |||||||||
| Cultures | (i,957/ | 2,027 | |||||||||
| Dcrck Jsmmn | .52250 | /0,000 | (/2, 50ul | .54,74/ | |||||||
| Culture Recovery |
Fund | /90, 459 | /44, 095 | (I13./70/ | I/71,350/ | II(i.034 | |||||
| Ilcadlcy Trust | 20.(f00 | 20,000 | |||||||||
| Franms Winltam |
(Making | Conversations) | ',000 | z.oon | |||||||
| Paul Hamlyn | Foundation | 22 706 | (22,61.51 | (50.16/ | 5.5 |
| 19. | Statement | of | funds | (continued) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Statement | of | funds | - prior year (continued) | |||||||
| Balani e ai | Balance ai | |||||||||
| / | Rpm/202/ | /ncame | Expent/t(tire | Trarsiers | in)tiai | 3/ tfarcn 2022 | ||||
| 6 | E | |||||||||
| National Hcritadc |
Fund | (Tradin" Stations) | (9,232/ | 568 | ||||||
| Sylvia Adams | (Healthy | Baby Stay &Play) | /4, 500 | (w.sno/ | ||||||
| Platt Hall Project | (i,863/ | 36,437 | (30, / /9/ | 9,49/ | ||||||
| Fashion Gallery | l!n,nno | sn,nno | ((6,735/ | /93,265 | ||||||
| Other iinmaterial | restricted project funds | 2i,50/ | 39,/45 | (l(i, 785/ | i!,onoi | 49,86/ | ||||
| 639,966 | 3.59.677 | (/86, l65/ | i302,267/ | 5//, 2// | ||||||
| Total offunds | /, 050,8/3 | (,394,993 | (958,/47/ | /,487.659 |
| Unrestricted | Total | |||||||
|---|---|---|---|---|---|---|---|---|
| funds | Restricted | funds | funds | |||||
| 21123 | 2023 | 2023 | ||||||
| Tangible | fixed | assets | 87,677 | 87,677 | ||||
| Current | assets | 1,561,714 | 388,707 | 1,950,421 | ||||
| Creditors | duc | within | onc | year | (557,755) | (557,755) | ||
| Total | 1,091,636 | 388.707 | 1,480343 |
| Ioio( | |||||||
|---|---|---|---|---|---|---|---|
| Unrec iric/ed (nnc(c | Resinried fimds | /Iini/s | |||||
| 2022 | 2022 | 202 | |||||
| Tangible | fixed | assets | /22, 233 | /22, 233 | |||
| Current | assets | /,264,647 | 5I/, 2// | I,7/5.858 | |||
| Creditors | duc | within | onc | year | (4/0, 432/ | (4(0,432/ | |
| Total | 976,448 | 5II,/I I | /,487,659 |
| Group | Group | |||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| 8 | f | |||||||
| (7116 | 436,846 | |||||||
| ~et income expend&ture | for the year (as per Statement ofFmanc&al Acuvities) | ) | ||||||
| Adjustments for: |
||||||||
| Deprec&ation charges |
38,607 | 38.53/ | ||||||
| Divtdcnds, tntcrcsts |
and | tents t)am tnvcstmcnts | (28,245) | (/ 76/ | ||||
| Loss on the sale ofttxed | as~ate | 13328 | ||||||
| Dccrcas (incrcasc) |
in stocks | (6,926) | ||||||
| Decrease/(mcrease) | m debtors | 86,101 | (77.289/ | |||||
| Increase in creditors | 186,933 | 245,/93 | ||||||
| I%et cash provided by operating |
actlvttles | 282,482 | 64.3,/05 | |||||
| 22. | Analysis ofcash and cash | equivalents | ||||||
| Group | Group | |||||||
| 2023 | 2022 | |||||||
| f | f | |||||||
| Cash m hand | 1,8117,038 | /,593.675 | ||||||
| ()vetdratt facdtty repayable |
on demand | (16) | ||||||
| Total cash and cash equivalents | 1,887,022 | /..593,671 | ||||||
| 23. | Analysit ofchaages |
in net | debt | |||||
| At I April 2022 | Cmh flovrs | At 31 March 2023 | ||||||
| Cash at bank and in | hand | 1,593,675 | 293363 | 1,887,038 | ||||
| Bank overdrafts repayable |
on demand | (16) | (16) | |||||
| 1,593,675 | 293347 | 1,887,022 |
| Group | Group | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| f | 6 | |||||
| Not | later | than | 1 | veer | 525 |