SOLL {VALE)
Company number: 05184368
Charlty number: 1107823
Accounts
For the yèar endod
31 March 2025
Wenn Townsend
Chartered Accountants
Oxford

SOLL IVALEI
Contents of Accounts
for the year ended 31 March 2025
Pages
Trustees. Report
Independent Auditors, Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Accounts
10-16

SOLL (VALEI
Reference and Administrative information
for the year ended 31 March 2025
Charity Registration Number:
1107823
Company Registration Number:
05184368
Trustees:
R Booker- Chair
P Sambrook- Wice Chair
P Tumer
T Hampson
Address:
The Park Club
17 Croft Drive
Milton Park
Abingdon
Oxfordshire
OX14 4RP
Audltors:
Wenn Townsend
30 St Giles
Oxford
OX13LE
Solicitors:
Hedges Law
13 Beaumont Street
Oxford
OX12LP
Bankers:
National Westminster Bank
121 High Street
Oxford
OX14DD

SOLL (VALE)
Trustees, Report
for the year ended 31 March 2025
Objectlves and Activities
SOLL (VALE) is a Charitable Company that uses ils experience, skills and expertise lo manage sportslleisur8
facilities.
The company will Gontinue the management of its single site at Milton Park.
The company will continue to operate the Milton Park facility pursuant to its ongoing rnission Helping you get
fitter, healthier & happier.
SOLL {VALEI seeks to engage with those within the community who, because of their circumstances. would not
otherwise be able to participate in sport and recrealion, whilsl supporting many national initiatives to reduce
physical inactivity and support many conditions that can be helped or even alleviat8d through programmed and
targeted exercise. The Charity allocates significant resources to id8nlify target groups low in participation and
implement programmes to increase their activity levels.
For the year 2024125 the Charity's continuing objective was to focus on supporting the inactive to be active,
which involved focusing on high priority groups that were identified through local and national research.
The Charity continues to look at all funding opportunitiés to support thé programmes that we not only offer but
would like to offer in the future.
The Trustees continue lo comply with the duly within the Charities Act 2011 to have due regard to public benefit
guidance published by the Charity Commission.
Community Devolopment Hlghllghts 2024-25:
The continued provision of Corporate wellbeing programmes with three local companies on Milton Park.
Continuation of Heart Health screening service in club along with Health Ch6cks delivered at Local
businesses.
Growth of our Active Health exercise referral scheme with increased referrals and conversions onlo
memberships.
SOLL {VALEI continues to promote exercise through external communication including press r618ases
and website articles.
With the assistance of it's landlord, MEPC, the charity continues to upgrade its facilities.

SOLL {VALEI
Trustees, Report
for the year ended 31 March 2025
Flnancial Review
SOLL (VALEI receives the majority of its income in advance or al the time of providing its service. This has
enabled the company to prepay its power suppliers and agree with its utility supplier significantly lower gas and
electricity costs than would otheTwise have been payable through the last year. It is expected that with the
negotiated power cost reductions, the reduced usage of gas arising from tha réplacement boilèrs and other
investments including the pool cover and upgraded air handling units, the company is in a very good position to
navigate future spikes in power costs and supply value lo ils customers.
The company keeps abreast of research in the leisure industry and is constantly reviewing and changing ils
programme to cater for new activities. In previous years it has been reported that the industry recognised area for
growth in the next 5-10 years is low-cost health and fitness and the Trustees and the Senior Managemenl Team
agree with this.
As at 31 March 2025 the charily had a surplus on reseNes of £387,53312024.. £213,596). The surplus for the
perlod was £173,937 (2024= £159,309.)
structuro Governance and Managernent
SOLL {VALE) (The Company) commenced trading on 1 September 2004. The governing document of The
Company is the Memorandum and Articles of Association and SOLL (VALE) has no controlling Parent.
In the notice for an annual general meeting, the Board sets out its requirements for the skills, qualities and
experience that it needs from its members. The Board of Trustees comprises of persons with a broad range of
skills and who are likely to contribute to the Company s success.
The key roles that Ihe Board performs and provides are leadership, advocacy, influence, strategic direction and
governance.
Tha day-to-day operational management and decision making within the company is provided by the Senior
Managemenl T8am.
Pay and remuneration of staff is reviewed annually for all staff that work for the charity and increases awarded in
line with national minimum wage increases and also taking into consideration job responsibilities. This is
prèsentéd as a proposal to the trustees for review.
Key management personnel. as in the senior management team is reviewed on the same basis wilh further
comparison to industry standards and salary guides. Proposals for increases are presented to the Trustees by
the Managing Director for review and authorisation.

SOLL (VALE)
Trustees, Report
for the year ended 31 March 2025
Future Plans
The Charity is continuing lo work with partners, including it's landlord, MEPC, to identify priority areas for
developing its existing site to increase income and improve the customer experience through independent
mystery vlslts.
Along with plans lo irnprove financial performance we are focusing on improving team retantion through
development and internal prospects.
For the foreseeable future, the Company intends to focus on operations at its single site.
Slatement of Trustees, Responsibllitles
The Trustees are responsible for preparing the Annual Report and the accounts in accordance with applicable law
and regulations.
Company law requires the Trustees to prepare accounts for each financial year. Under that law the Trustees
have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees musl nol
approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the
charity and of the incoming resources and application of resources of the charity for that peri¢)d. In preparing
Ihese accounts. the Trustees are required to..
select suitable accounling policies and then apply them consistently.,
make judgements and accounting estimales that are reasonable and prudent.,
preparé the accounts on the going concern basis unless it is inappropriate to presume that the company
will continue in operation.
The Truslees are responsible for ensuring that adequate accounting records are kept thal are sufficient to show
and explain the charity's Iransactions and disclose with reasonable accuracy at any time the financial posilion of
the Charity and enable them lo ensure that the accounts comply wilh the Companies Act 2006. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularikn'es.
So far as the trustees are aware, there is no relevant information (information needed by th8 company's auditors
in connection with preparing their report) of which the company's auditors are unawar8 and each Irustee has
taken all sleps that he ought lo have taken as a trustee in order to make himself aware of any relevant audit
information and to establish that Ihe ¢ompany's auditors are aware of that information.
This report has been prepared in accordance with the small company's regime under section 419{21 of the
Companies Act 2006.
This report was approved by the Trustees on
R Booker (Chalrj

SOLL {VALE)
Independent Auditor's Report to the Members of SOLL (VALE)
Oplnion
We have audited the finar)cial statements of SOLL (Vale) (the 'charitable company,) for the year ended 31 March
2025 which comprise Ihe Statement of Financial Activities. the Balance Sheet, the statement of Cash Flows and
notes to the financial statements, including a summary of significant accounling policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK
and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our oplnion the financial statements..
giv8 a true and fair viéw of the slate of th8 charitable company s affairs as at 31 March 2025, and of its
incoming resources and application of resources, including its income and expenditure, for the year then
ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We condLFcled our audit in accordance with International Standards on Audiling (UK) (ISAS (UKI} and applicable
law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit
of Ihe financial statements section of our report. We are independent of the charitable company in accordance
wilh the ethical requirements that are relevant lo our audit of the financial statements in Ihe UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial slatements, we have concluded thal the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the group and charitable company's
ability lo continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are descrtbed in Ihe
relevant seclions of this report.
Oth•r Informatlon
The trustees are responsible for the other information. The other information comprises the infonT)ation included
in Ihe trustees, report, other than tre financial slatemenls and our auditor's report Ihereon. Our opinion on the
financial statement5 does not cover the other information and, except to the extent otherwise explicitly staled in
our report. we do not express any form of assurance ¢onclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or oth8rwise appears to be materially misstated. If we identify such material
inconsistencies or apparent malerial misstatements. we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on Ihe
work we have performed, we conclude that there is a material misstatement of this other information. we are
required to report that fact.
We have nothing to report in this regard.

SOLL {VALEI
Independent Auditor's Report to the Members of SOLL {VALE)
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information giv8n in the trustees, r8POrt {incorporating the directors, report) for the financial year for which
the financial statements are prepared is consistenl with the financial slatements,. and
the directors, report has been prepared in accordance with applicable legal requiremenls.
Matters on which we are required to report by exception
We have nothing to report in respect ofthe following matters where the Companies Act 2006 requirés us to report
to you if, in our opinion-
adequate accounting records have not been kept or returns adequate for our audit have not been receive
from branches not visited by us., or
the financial statemenls are not in agreement with the accounting records and retums., or
certain disclosure of Iruslees, remuneration specified by law are not made- or
we have not received all the infomialion and the explanations we require for audit., or
the Trustees were not entitled to take advantage of the small companies, exemption in preparing the
Trustees, report and take advantage of the small companies, exemption from the requirement to prepare a
strategic report.
Responslbilities of trustees
As explained more fully in the trustees. responsibilities statement set out on page 3. the trustees (who are also
thè directors of th8 charitable company for the purposes of company lawl are responsible for the preparalion of
the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
the trustees determine is necessary to enable the preparation of finanGial ststements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial statemenls. the truslees are responsible for assessing the charitable company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidale the charitable company or to cease
operations, or have no realistic alternative bul to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance aboul whether the financial statements as a whole are free
from material misslalemenl, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when il exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Irr8gularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities. outlined above. to detecl material misstatements in respect of irregularities,
including fraud. The specific procedures for this engagemenl and the extent to which these are capable of
detecting irregularities. including fraud is detailed below..
Enquiry of management, those charged with governance and the entity's solicitors (where relevant)
around actual and potential litigation and claims.,
Reviewing minutes of meetings of those charged with governance..
Reviewing financial statement disclosures and testing lo supporting documentation to assess compliance
with applicable laws and regulations..
Performing audit work over the risk of management override of controls. including testing of journal entries
and other adjuslments for appropriateness, evaluating the business rationale of significant transactions
outside the normal course of business and reviewing accounting estimates for bias;
8ecause of the inherent limitations of an audit, there is a risk that we will not detecl all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the mora that compliance with a law or regulation is removed from the events and transactions
reflected in the financial stalemenls, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves
intentional concealment forgery, collusion, omission or misrepresentation.

SOLL (VALEI
Independent Auditor's Report to the Membors of SOLL (VALE)
Auditor's responsibilities for the audit of the financial statements (continued)
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. WWw.f￿.Org.￿k1audIt0rsresponSlbllitles. This description forms part of our
auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable
company's members those matters we are required to slate to them in an auditor's report and for no other
purpose. To the fullest exlent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and the charitable company's members as a body. for our audit work, for this r8port. or
for the opinions we have formed.
Loe Baker FCA
Senior Statutory Auditor
For and on behalf of Wenn Townsend
Statutory Auditor
30 St Glles
Oxford
21 July.. 2025

SOLL {VALE)
Statement of Financial Activities
(including Income and Expenditure Account)
for the year anded 31 March 2025
Note
Unrestrlcted &
Total
Funds
2025
Unrestrlcted &
Total
Funds
2024
Income
Income from charitable activities
Other income
2,023,919
481
1,707,079
828
Total income
2,024.400
1.707,907
Expendltur8
Charitable activities
1,849,915
1.548,598
Total expenditure
1,849,915
1.548,598
Net movement In funds boforè axtraordlnary Items
174,485
159,309
Total funds brought forward
213,596
54.287
Total funds carried fornard
388,081
213,596
Thérè are no recognised gains and losses other than shown above.
The note5 on pages 10 to 15 form part of the accounts.

SOLL (VALE)
Balance Sheet
for the year ended 31 March 2025
Not8
2025
2024
Fixed assets
Tangible assets
Investments
311,863
314,122
311,864
314,123
Current assets
Stocks
Debtors
Cash at bank and in hand
8,147
173,063
392,051
7.717
201.042
125,655
10
11
573,261
334,414
Craditors
Amount falling due within one year
12
1497,044)
{391,238)
Net Current assetsl(liabilities)
76,217
{56,8241
Total assets lèss current liabilities
388,081
257,299
Amount falling due after more than one year
14
143,703)
Net asset$ before provl$ion for Ilabllltles
388,081
213,596
N81 assets
388,081
213,596
Reserves
Unrastricted funds
388,081
213,596
Net current Ilabllities Includes deferred Income totalling £165,385 (note 13) which will all be released
to income In the 2025126 financlal year.
The financial statements have been prepared in accordance with the special provisions of part 15 of the
Companies Act 2006 relating to small companies.
The accounts were approved and authorised
on ils behalf
or issue by the Board of Trustees on
ob 2025 and signed
er
The notes on pagès 10 to 15 form part of the accounts.
Registered company number.. 05184368

SOLL (VALE)
Statement of Cash Flows
for the year onded 31 March 2025
2025
2024
Cash flows from operating activities:
Net cash provided by operating activities (see below)
426,446
277,974
Cash flows from investing activities..
Purchase of propety, plant and equipment
(68,044)
1142,127)
Cash flows from flnanclng actlvltles:
Repayment of hire purchase agreements
Loan repayments
Interest paid
(22,182)
1108,889)
(12,751)
(87,407}
14.5991
Net cash provided byl(used in) investing actlvitiesMinan¢ing activities
(160,049)
(285,950)
Change in cash and cash equivalent in the reporting period
266,396
(7,9761
Cash and cash equivalents at the start of the reporting period {note 11)
125,655
133,631
Cash and cash equivalents at the end of the reportlng period (note 111
392.051
125,655
Reconclliation of net movement in funds to net cash flow from operating activities
2025
2024
Net movement in funds for the reporting period {a$ per the Stalement
of Financial Activities)
174,485
159,309
Adjustments for:
Depreciation charges
Interest paid
Ilncrease}IDecrease in stock
Ilncreasel in debtors
Increaselldecreasel in creditors
{Decrease} in provision5
70.304
4,599
{4301
27,979
149,509
61,380
12,751
(10)
{52,7421
97,286
Net cash provlded by operating actlvltles
426,446
277.974

SOLL IVALE)
Notes to the Accounts
for the year ended 31 March 2025
Charitable Company Information
The company is limited by guarantee {incorporaled in the United Kingdom), not having a share capital.
However. every member undertakes to contribute lo the assets of the company such amount as may
be required, bul not exceeding £1. It is a public benefit entity with its registered office at The Park Club,
17 Milton Park, Abingdon, OX14 4RS.
Accounting Policies
The accounts have been prepared under the historical cost convention and in accordance with
applicable accounting standards, FRS 102, the Statement of Recomrnended Practice (SORPI,
Accounting and Reporting by Charities IFRS 1021 and the Companies Act 2006.
Going Concern
Thé financial statements have been prepared on a going concern basis as the trustees believe
that no material uncertainties exist. The trustees have considered the level of funds held and
tha axpected leval of income and expenditura for 12 months from authorising Ihese financial
statements. The budgeted income and expenditure is sufficient with the level of reserves for
the charity lo be able lo continue as a going concern.
bl
Tangible fixed assets
These are included at cost less a¢cumulated depreciation. Fixed assets with a cost of less
than £1.000 are not capilalised. Depreciation of fixed assets is calculated to write off their cost
less any residual value over their &stimated useful livès as follows..
Leasehold buildings
Equipment
10 to 20 years lor length of lease if shorter)
3 to 5 years
Léases
Renlals paid under operating leases are charged to the Statement of Financial Activities as
they are incurred. Lease incentives lincluding rent free periods} are Spread over the period
up until the next rent review date.
Assets obtained under finance léases arè capilalised as tangible assets and depreciated over
the lease term. Obligations under such agreemen15 are included in creditors net of the finance
charge allocated to future yoars. The finance element of the rental payment is charged to the
stalem8nt of financial activities on a straight-line basis.
d)
Stocks
Stocks are valued at the lower of Gosl and nel realisable value.
Pensions
Contributions lo defined contribution pension schemes are charged to the statement of
financial activities as they become payable in accordance with the rules of the scheme.
10

SOLL {VALE)
Notes to the Accounts
for the year ended 31 March 2025 (continued)
Income
Income from clubs is normally accounted for when received. However, course income is
deferred until the dates in which il relates to and annual membership is taken lo income over
the membership year. Funding from local authorities is accounted for in the period to which it
relates.
gl
Expenditure
Expenditure is included on an accruals basis and apart from governance costs all rglale to
the charity's sole charitable activity of operating clubs. Any irrecoverable VAT is included
within expenses.
h)
Trade creditors
Trade creditors are obligations lo pay for goods or services that have been acquired in the
ordinary course of operation from suppliers. Accounts payable are classified as current
liabilities if the charity does not have an unconditional right at the end of the reporting périod,
to defer settlement of the creditor for at least 12 months after the reporting date. If there is an
unconditional right to defer settlement for at least 12 months after the reporting datè, they ar8
presented as non-current liabilities. Trade creditors are recognised al the transaction price.
Funds
Unrestricted fvnds comprise those funds which the Trustees are free to use in accordance with
the charitable objective.
Intangible assets
Specific pre-startup costs (including payment for goodwill) are capitalised as an intangible
asset and amortised over a period of 2 years. These have been disposed of in the year as
they relale lo sites which are no longer operated by the Charity.
k)
Cash at bank and in hand
This includ8s balances with banks and short-term deposits.
Income from Charitable activities
2025
2024
Leisure centres
2,023,919
1,707,079
2.023,919
1.707.079
11

SOLL (VALEI
Notes to the Accounts
for the year ended 31 March 2025 {contlnued>
other income
2025
2024
Interest receivable
481
828
481
828
Expenditure on charltablo activlties
Lelsura Centras:
2025
2024
Direct costs
Support costs
Support costs
centre5
other central costs
govemance costs
959.211
871,701
19,003
803,463
726,203
18.932
1,849,915
1,548,598
Staff Costs
The average number of full time equivalent employees during the year was as follows..
2025
No:
2024
Employees
36
36
The aggregate payroll costs of these persons were as follows..
2025
2024
Wages and salaries
Social security costs
Pension scheme contributions
606,717
42,460
7,250
505,918
33,229
5,951
656,427
545,098
12

SOLL (VALE)
Notes to the Accounts
for the year ended 31 March 2025 {continued)
Staff Costs (contlnuedl
The number of employees who received total employee bènefits {excluding employer pension costs of more
Ihan £60,000 is as follows:
2025
Number
2024
Numbar
£60,000- £70,000
2025
2024
Key Management Compensation
116,742
99,207
Pension Scheme
Pension contribLrtions were payable to defined contribution schemes in respect of all applicable
employees.
Trustees, remuneration and expendlture
Accruals Includes £25,00012024'. £38,000} payable to Trustees for services to the charity in a
consultancy capacity. There are no payments made in respect of services rendered as Trustees.
Nel Incoming Resour¢os is Stated After Charging
2025
2024
Auditor'5 remuneration - audit fee
Depreciation of owned assets
Deprecation of assets held under finance leases
Operating lease - land and buildings
Operating lea5e- plant and machinery
9,382
65,286
5.018
309.986
10,841
42,851
18.528
162,255
3,060
14

SOLL (VALEI
Notes to the Accounts
forthe year ended 31 March 2025 (continued)
Tangible Fixed Assets
Equlpment
Leasehold
Property
Total
Cost:
At 1 st April 2024
Additions
662,701
59,058
458,174
8,986
1,120,875
68,044
At 31st March 2025
721,759
467,160
1,188,919
Depreciation:
At 1 st April 2024
Charge for the year
577,463
39,363
229,289
30,940
806,752
70,304
At 31 st March 2025
616,826
260,229
877,056
Net book value:
At 31st March 2025
104,933
206,930
311,863
Al 31st March 2024
85,238
228,884
314.122
Stocks
2025
2024
Consumables and re-saleable items
8,147
7,717
10
Debtors
2025
2024
Trade receivables
Prepayments
Amounts owed by group undertakings
Tax and social security
27,416
104,110
12
41,525
39,284
136,739
12
25,007
173,063
201,042
11
Cash at Bank and In Hand
2025
2024
Cash balance
Bank balance
2.232
389.819
4,355
121,300
392,051
125,655
14

SOLL (VALE)
Notes to the Accounls
for the year ended 31 March 2025 (continued)
12
Credltors: Amounts falllng due Wlthin One Year
2025
2024
Trade Creditors
Accruals and deferred income
Other lax and social security
Other creditors
Amounts due under finance leases contracts < 1 yr
Bank borrowing (note 16)
83,461
392,326
19,376
1,881
117.412
204.164
1,667
24,290
43,705
497,044
391,238
13
Deferred Income
Memborshlp Income
2025
2024
At 1 st April 2024
Released in the year
Deferred in the year
137,094
{137.094)
165.385
125.500
{125,5001
137,094
Al 31st March 2025
165,385
137,094
14
Creditors: Amounts falllng due after more than one year
2025
2024
Bank borrowing 1-5 years
Amounts due under financ8 lease contracts {1-5 years)
43.703
43,703
15
Loans and borrowings
2025
2024
Current bank borrowings
Non-current bank borrowings
43,705
43,703
Total bank borrowing
87,408
The bank loan was taken out in August 2020 and is denominated in stèrling. The loan was repaid in
the financial year.
14

SOLL (VALEI
Notes to the Accounts
for the year ended 31 March 2025 (continued)
16
Financial Commitments
Financial commitments under operating leases will result in the following total future lease payments
being made..
2025
Land &
Bulldlngs
2025
other
2024
Land &
Buildings
2024
Other
Payable
Within 1 year
Within 2 10 5 years
After 5 years
120,000
480,000
290,000
120,000
480,000
410,000
890,000
1,010,000
Pursuant lo the terms of the Charity's lease agreement, it pays a base rent of £10,000 per month with
a top up based on turnover due in April of the following financial year. The amount due al 31st March
2026 was £178,912, including VAT which was paid on 30th April 2025.This amount is included in
current liabilities at 31 sl March 2025.
14