Charity registration number 1108273 (England and Wales} THE MAXFIELD NATURE CONSERVATION TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE MAXFIELD NATURE CONSERVATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R N Hobbs Mr J Willsher Mr B J Yates Secretary Charity number Mr J Willsher 1108273 Principal address Maxfield Manor Three Oaks Eighteen Pounder Lane Hastings East Sussex TN35 4NU Independent examiner Harding & Associates LLP Coplhorne Business Suite Coplhorne Way Copthorne Wesl Sussex RH10 3PG
THE MAXFIELD NATURE CONSERVATION TRUST CONTENTS Page Trustees, report Independent examinels report Statement of financial activities Balance sheet Notes to the financial statements 6-15
THE MAXFIELD NATURE CONSERVATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their annual report and financial statements for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charilies.- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" las amended for accounting periods commencing from 1 January 20191. The charity has also adopted the Charity Governance Code which closely aligns with the charity'5 Trust Deed. Objectives and activities The charity's objects and principal activities are.. 1. To promote and conserve the physical and natural environment by protecting. creating and restoring biodiversity in the upper reaches of the River Brede Valley and elsewhere for the benefit of the public. 2. To promote public education in connection with the physical and natural environment and the flora and fauna of that environment. 3. To support the study of ecology and conservation. 4. To promote such other exclusively charitable object as the Trustees shall decide. The trustees have paid due regard lo guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. Achievements and performance The main area of charitable activity is to support the study of ecology and nature conservation, which the charity has continued lo do during the year. In association with the Friends of the Brede Valley, the Trustees have continued to contribute to the production of the Brede Valley Wildlife publication. Financial review During the year the charity received grants of £49,279 {2023 - £16.0511 and other income of £6,265 12023 £7,728) and incurred total expenditure of £36,111 {2023 - £27,035) giving rise lo a surplus of £19.433 {2023 deficit of £3,256) for the year. Unrestricted funds available to carry forward amounted to £226.131 (2023 £206.6981. Princi al fundin sources Aside from voluntary income from donations, the principal funding source for the charity is currently by way of grants from the Countryside Stewardship Scheme. Reserves Polic It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Management Committee has reviewed the charity's reserves now standing at £608,57412023 £589.1411. After deducting the suffl of £382,44312023 - £382,443) earmarked for the Heritage Assets, the uncommitted reserves freely available for current activities amount to £226,131 12023 £206,698}. This is sufficient for the charity'5 needs in normal circumstances for al least the next twelve months.
THE MAXFIELD NATURE CONSERVATION TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Risk Mana ement The Management Committee has conducted a review of the major risks to which the charity is exposed. ere approprlate. systems or procedures have been established to mitigate the risks the charity faces. Intemal control risks are minimised by the implementation of procedures for aLrthorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of volunteers, clients and visitors lo the locality. These procedures are periodically reviewed to ensure that they rneet the needs of the charity- Structure• govemance and management Govemin Document The Maxfield Nature Conservation Trust was registered as a charity with the Charity Commission on 23 February 2005 (Charity Registration No. 1108273). The charity is govemed by its Trust Deed dated 10 February 2005. The trustees who served during the year and up to the date of signature of the financial statements were.. Mr R N Hobbs Mr J Willsher Mr B J Yates Recruitment and A ointment of Mana ement Committee The Tnjstees are elected as members of the Management Committee. A5 a small organisation, it has not been considered necessary to institute a formal training programme for new Trustees. anisatonal Structure The Maxfield Nature Conservation Trust has a Management Committee of three members who meet quarterly and are responsible for the strategic direction and policy of the charity. Related Parties In so far as it is complimentary lo the charity's objects, the charity is guided by both local and national policy. The charity had no interest in these organisations. Plans for future periods The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. The charity policy is, therefore, to continue building up the free reserves by means of annual operating surpluses, supplemented by general appeals from time to time. The trustees, report was approved by the Board of Trustees. Mr J Willsher Trustee Dated.. 12 June 2025
THE MAXFIELD NATURE CONSERVATION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MAXFIELD NATURE CONSERVATION TRUST I report to the trustees on my examination of the financial statements of The Maxfield Nature Conservation Trust Ilhe charity) for the year ended 5 April 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{51{b) of the Charities Act 2011. Independent examiner's statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities.. Slalernent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now been withdrawn. l understand that this has been done in order for financial statements lo provide a true and fair view in accordance with Generally Accepted Accounting Praciice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no material Matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by seclion 130 of the Charities Act 2011. the financial statements do not accord with those records., or the financial statements do not comply with the applicable requirements concerning the form and content of firiancial statements Sel out in the Charities {Accounts and Reports} Regulations 2008 other than any requiiement that the financial slalements give a true and fair view, which is nol a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. M J Harding FCA FCCA Harding & Associates LLP Independent Examiner Copthome Business Suite Copthorne Way Copthome West Sussex RH10 3PG Dated.. 12 June 2025
THE MAXFIELD NATURE CONSERVATION TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Endowment funds funds 2024 2024 Total Unrestricted Endowment funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Other trading activitie5 Investments Other income 49,373 4,166 2.005 49,373 4,166 2,005 16.431 5,411 437 1.500 16,431 5,411 437 1,500 Total income 55,544 55,544 23,779 23.779 Expenditure on: Raisin funds Fundraising and publicity 26,924 26.924 23.319 23,319 Charitable activities 9,187 9.187 3,716 3,716 Total expenditure 36,111 36,111 27,035 27,035 Net incomel(expenditurel and movement in funds 19.433 19.433 13,2561 13,256) Reconciliation of funds= Fund balance5 at 6 April 2023 206,698 382,443 589,141 209,954 382,443 592,397 Fund balances at 5 April 2024 226,131 382,443 608.574 206,698 382.443 589.141 The slalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE MAXFIELD NATURE CONSERVATION TRUST BALANCE SHEET ASAT5APRIL 2024 2024 2023 Fixed assets Tangible assets Herilage assets 14 15 11,642 382,443 12,063 382,443 394,085 394,506 Current assets Stocks Debtors Cash at bank and in hand 16 17 12,770 61.047 143,492 3,000 59.823 138,423 217,309 201,246 Creditors: amounts falling due within one year Other creditors 18 2,820 6,611 Net current assets 214,489 194,635 Total assets less cunrnt liabllities 608,574 589,141 The funds of the charity Endowment funds Unrestricted funds 19 20 382.443 226.131 382,443 206,698 608,574 589,141 The financial statements were approved by the trustees on 12 June 2025 Mr R N Hobbs Tstee
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Charity information The Maxfield Nature Consetvalion Trust is a registered charity in England and Wales and is unincorporated. The address of the principal office is Maxfield Manor. Three Oaks, Eighteen Pounder Lane. Hastings, East Sussex, TN35 4NU. 1.1 Accounting convention The financial statements have been prepared in accordance 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 Republic of Ireland IFRS 1021 {as amended for accounting periods commencing from l January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for smaller charities not to prepare a Slalement of Cash Flows_ The financial slalements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a trve and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather Ihan the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds are unrestricted funds earmarked by the Trustees for a particular future project or commitment. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the reslricled funds are sel out in the notes lo the financial slatemenls. Endowment funds are restricted funds subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity,. it is probably that the economic benefits associated with Ihe transaction will flow lo the charity and the amount can be reliably measured. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the lime of the donation.
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) Legacies are recognised on receipl or othetwise if the charity has been notified of an impending dislribulion. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. Income from donations or grants are recognised when there is evidence of entitlement lo the gift, receipt is probable and its amount can be measured reliably. Income from trading activities is recognised once the goods have been SLJpplied to the purchaser, when both the income from the sale and the cost of the goods sold can be measured reliably, and receipt of the income is probable. 1.5 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and Ihis is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income. Charitable expenditure comprises those cost5 incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly lo such activilies and those costs of an indirect nature necessary to support them. Governance costs Include those costs associated with meeting Ihe constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to Ihe strategic management of the charity. All costs are allocated between the expenditure categorie5 of the SOFA on a basis designed lo reflect the use of the resource. Costs relating lo a particular aclivily are allocated directly, others are apporboned on an appropriate basis. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. nel of depreciation and any impaiment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Agricultural buildings Plant and equipment Property improvements 20 /0 on cost 200/y on cost No depreciation The gain or loss arising on the disposal of an asset is det8rmined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) 1.7 Heritage assets The charity holds heritage assets. These are tangible fixed assets with historical, artistic. scientific, technological, geophysical or environmental qualities that are held and maintained principally for their contribution to knowledge and culture. Newly purchased heritage assets are capilalised and included al cost including any incidental expenses of acquisition. The charily has chosen not lo adopt a policy of valuation, and therefore heritage assets continue lo be carried al historical cost, subject to impairment review. Where heritage assets were acqtjired in past accounting periods and not capitalised, it can be difficult or costly to attribute a cost or value lo them. In such cases. these assets are excluded from the balance sheet if reliable cost information 15 not available and conventional valuation approaches lack sufficient reliability or significant costs are involved in the reconstruction or analysis of past accounting records or in valuation, which are onerous compared with the additional benefit derived by the users of the accounts in assessing the trustees, stewardship of the assets. The very long expected lives of heritage assets, due lo their nature, value and need to be protected and preserved means that depreciation is not material and is. therefore, not provided. 1.8 Impairment of fixed assets At each reporting dale, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the exlenl of the impairment loss {if anyl- Prior impairments are also reviewed for possible reversal at each reporting dale. 1.9 Stocks Stocks are stated al the lower of cost and eslimaled selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs ar)d those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Nel realisable value is the estimaled selling price less all esb"mated costs of completion and costs to be incurred in mart(eting, selling and distribution. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months Of less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.11 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amoLtnts and there is an intention lo settle on a nel basis or lo realise the asset and settle the liability simultaneously.
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policies (Continued) Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cosl using the effective interest method. Derecognition ol financial liabilities Financial liabilities are deCOgnised when the charity s contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost Df any unused holiday entitlement is recogr]ised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo terminate the employment of an employee or lo provide termination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affecls both current and future periods.
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts Grants 94 49.279 380 16.051 49.373 16,431 Grants Countryside Stewardship Scheme 49.279 16,051 49,279 16,051 Income from other trading activities Unrestricted Unrestricted funds funds 2024 2023 Lelling and licensing arrangements Other income 2,000 2,166 2.000 3,411 Other tra(Jing activities 4,166 5,411 Investments Unrestricted Unrestricted funds funds 2024 2023 Other interest receivable Bank Interest receivable 215 1,790 225 212 2.005 437 10
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 other income Unrestricted Unrestricted funds funds 2024 2023 Nel gain on disposal of tangible fixed assets 1,500 Expenditure on raising funds Unrestricted Unrestricted funds funds 2024 2023 Grant-related costs Seeking donations. grants and legacies 26,924 23,319 Charitable activities Charitable Charitable Expenditure Expenditure 2024 2023 Conservation activities 5.863 Share of support costs (see note 9) Share of governance costs (see note 91 17 3,307 3.710 9,187 3.716 Support costs allocated to activities 2024 2023 17 3.307 Govemance costs 3,710 3,324 3,716 Analysed between: Conserrfation activitie5 3,324 3,716 11
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 10 Net movement in funds 2024 2023 The net movement in funds is slated after chargingllcredilingl-. Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets Lossl{profill on disposal of tangible fixed assets 2,820 421 3,270 1,321 11.5001 11 Trustees None of the trustees (or any persons connected with them) received any remuneration. benefits or reimbursed expenses from the Charity during the year. 12 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. 13 Taxation The charity is exempl from tax on income and gains falling within secliori 505 of the Taxes Act 1988 Dr section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 14 Tangible fixed assets Agricultural buildings Plant and Property equipment improvements rot31 Cost Al 6 April 2023 26.360 38,520 11,065 75,945 Al 5 April 2024 26,360 38,520 11,065 75,945 Depreciation and impairment At 6 April 2023 Depreciation charged in the year 26,360 37,522 421 63,882 421 At 5 April 2024 26,360 37,943 64,303 Carrying amount At 5 April 2024 577 11,065 11,642 Al 5 April 2023 998 11,065 12,063 15 Heritage assets 12
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 15 Heritage assets {Continued) The heritage assets. comprising 140 acres of land in the River Brede Valley, are held to advance the preservation and conservation objectives of the charity including the study of ecology and nature conseNation. The land was donated at a cost of £382.443 in 2005. The current value of the land is estimated at £770,000. 16 Stocks 2024 2023 Livestock 12.770 3,000 17 Debtors 2024 2023 Amounts falling due within one year.. Other debtors Prepayments and accrued income 60,388 659 59,365 458 61,047 59,823 18 Other creditors falling due within one year 2024 2023 Trade creditors Accruals and deferred income 971 5,640 2,820 2,820 6,611 19 Endowment funds Endowment funds represent asset5 which musl be held permanently by the charity. Income arising on the eridowmenl fijnds can be used in accordance with the objects of the charity and is included as unre51ricted income. Any capital gains or losses arising on the assets form part of the fund. At 6 April 2023 At 5 April 2024 Permanent endowments 382,443 382,443 13
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 19 Endowment funds (Continued} Previous year: At 6 April 2022 At 5 April 2023 Permanent endowments 382,443 382,443 20 Unrestricted funds The unrestricted funds of the charily comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. At 6 April 2023 Incoming resources Resources expended At 5 April 2024 General funds 206.698 55,544 (36,111) 226,131 Previous year-. At 6 April 2022 Incoming resources Resources expended At 5April 2023 General ftjnds 209,954 23.779 127.035) 206.698 21 Analysis of net assets between funds Unrestricted Endowment funds funds 2024 2024 Total 2024 At 5 April 2024. Tangible assets Heritage asset5 Current assetsllliabilitiesl 11.642 11,642 382,443 214,489 382,443 214,489 226,131 382.443 608,574 14-
THE MAXFIELD NATURE CONSERVATION TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 21 Analysis of net assets between funds {Continued) Unrestricted Endowment funds funds 2023 2023 Total 2023 At 5 April 2023: Tangible assets Heritage assets Current assetsllliabililies) 12,063 12,063 382,443 194,635 382,443 194,635 206,698 382,443 589.141 22 Related party transaction5 The following amounts wère outstanding at the reporting end date-. Amounts owed by related parties 2024 Balance Amounts owed by related parties 2023 Balance Net Net Other related parties 60,388 60,388 59,365 59,365 60.388 60.388 59,365 59,365 The above amounts were owed to the charity by Mr P Newton, the donor of the land. The loan consists mainly of Rural Payments Agency {RPA} payments made lo Mr P Newton and due lo be transferred lo the charity. The loan is unsecured and repayable on demand. Interest is charged al 1.88°1o on the balance excluding the RPA payments due lo be transferred lo the charity. There are no other related party transactions12023 - none). 15