Henderson Hub Company Limited (A company limited by guarantee)
Report and Financial Statements Year Ended 31 March 2021
Charity number 1171855 Company number 8733997
Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
The Trustees present their report and financial statements for the year ended 31[st] March 2021. This has also been prepared to meet the requirements for a Directors’ Report and Accounts for the purposes of the Companies Act.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charites Act 2001, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS102).
Table of Contents
Legal and Administrative Information ………………………………………………………………………………………………. 1 Objectives and Activities…………………………………………………………………………………………………………………… 2 Achievements and Performance……………………………………………………………………………………………………….. 2 Structure, governance and management………………………………………………………………………………………..…. 4 Independent Examiner’s Report………………………………………………………………………………………………………… 7 Statement of Financial Activities ……………………………………………………………………………………………………….. 8 Balance Sheet……………………………………………………………………………………………………………………………………. 9 Notes to the Accounts……………………………………………………………………………………………………………………….. 10
Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
The Trustees present their report and financial statements for the year ended 31[st] March 2021. This has also been prepared to meet the requirements for a Directors’ Report and Accounts for the purposes of the Companies Act.
The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charites Act 2001, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS102).
Legal and administrative information
| Directors and Trustees | S Ash |
|---|---|
| C Bradshaw | |
| R Gotts | |
| A Stanley | |
| L Waters | |
| T Sidaway (from 27thOctober 2020) | |
| Secretary | R Gotts |
| Registered Office | 37 Marlowes |
| Hemel Hempstead | |
| HP1 1LD | |
| Operating address | Henderson Hall |
| High Street | |
| Abbots Langley | |
| WD5 0AR | |
| Accountants | Morgan Rose |
| 37 Marlowes | |
| Hemel Hempstead | |
| HP1 1LD | |
| Independent Examiner | Morgan Rose |
| 37 Marlowes | |
| Hemel Hempstead | |
| HP1 1LD | |
| Charity Registration Number | 1171855 |
| Company Registration Number | 8733997 |
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Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
Objectives and activities
Our Charitable objectives are settled with the Charity Commission to be:
The provision of facilities for the use of the inhabitants of Abbots Langley, without distinction of political, religious or other opinions, for recreation and leisure time occupation, with the object of improving the conditions of life; Advancement of the arts for public benefit through the provision of facilities to enable participation in a wide range of visual, literary and performing arts.
Our strategic objectives to achieve this are:
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To provide and encourage use of facilities at the Henderson Hall, including the provision of meeting spaces, arts and performance spaces.
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To foster and provide a wide range of arts and entertainment.
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To encourage participation in arts activities.
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To ensure the sustainability of the Henderson Hub and its value to the community.
The Trustees have complied with the duty specified in Section 4 of the Charities Act 2011 relating to the public benefit requirement of the activities of the Charity and to guidance issued by the Charity Commission.
To manage this, the Trustees regularly review their activities to more effectively achieve objectives and to more readily meet obligations.
Achievements and Performance
The very end of the last financial year saw us facing the challenges of Covid-19. Our response was to swiftly plan and implement a ‘mothball’ of both the Henderson Hall and our operations. We also reported a “significant event” to the Charity Commission. We would like to echo their response, and thank all concerned for rising to meet the fundamental challenge. The early steps that we took ensured that the organisation remained financially sound, a considerable achievement given the significant loss of income and ongoing costs of maintaining the building during the closure period. The support of stakeholders, staff and volunteers, has been tremendous.
We also managed during the year to re-align our lease. The original lease contained a break clause, effective May 2021, which required us to give six months’ notice (i.e. in November 2020) of our intention to continue or withdraw. Despite all the evident goodwill toward the Henderson Hub, the Board had come to the view, in Autumn 2020, that it could not commit at that stage to maintain the lease until 2026, when the next opportunity to break the lease commitment arose. We were therefore very pleased that we were able to agree with the freeholders a deferral of the lease break option from May to September 2021, again with six months prior notice; and given the improving situation in the first part of 2021 were able to confirm our intention to continue with the lease. Separately, but at the same time, we successfully secured a three-year grant support arrangement with Abbots Langley Parish Council (ALPC) on conditions that we believe are sustainable.. This provides a more solid financial basis for the Henderson Hub going forward, and we offer our thanks to ALPC for their ongoing support.
During the periods of the year when operations were possible in line with government guidance, we were clear that we needed to take a conservative approach on opening our facilities.. Where possible we opened Elvira’s Tea Room (our Foyer Café) in our main hall, ensuring social distancing
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Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
and safe usage to some success. A trial of running as a takeaway facility in the Autumn, however, was less successful with limited demand. We made use of the flexible furlough scheme for paid staff and this was rewarded with their return to running Elvira’s when possible.
We also engaged in a series of sessions with members via Zoom during Summer 2021 to re-inforce participation and capture ideas. This provided the opportunity to expand the brief of the part time Manager to include some of the community arts side of operations.
The Village Hall
The Henderson Hub preserves and promotes the established function of the Henderson Memorial Hall as the Village Hall of Abbots Langley, a hall for the use by the inhabitants of the village for meetings, classes and other leisure activities, as enshrined in the first object of our charity. In accordance with our second object, we have developed the hall as space for performing arts (the only such space in the eastern part of the Three Rivers district) and this has benefitted both artsbased groups sits and other community users, such as regular clubs and meetings.
Unfortunately, use of the facility, which accommodates up to 140 people, was very restricted during the year in response to the Covid 19 pandemic, although as noted above Elvira’s was able to open occasionally, exhibitions were held, and some use by small groups working was seen from time to time.
Community Arts
We were overwhelmed by the support to the Creative Canvas Challenge over summer 2020. This involved inviting the public to buy a canvas for a small fee, and return it for exhibition and possible sale in the hall.. This was an enormous success releasing great potential and fun for Abbots Langley, during a difficult period.
It was also an example of how moving Elvira’s Tea Room as a facility into the hall, with socially distanced tables and chairs to provide an ‘at table’ service, in an environment surrounded by an exhibition on the walls combined the Hall and Arts functions to good effect. It created a safe environment in which people enjoyed meeting, catching up and relaxing – with a hidden appetite for cream teas emerging.
Abbots Langley Festival
The Henderson Hub retains an interest in the Abbots Langley Festival, and has the right to nominate two Directors. We played a key part in planning and booking several events to contribute to the 2020 Abbots Langley Festival. This had to be postponed, originally by for 12 months, but this turned out to be overly optimistic and we now have 2022 in the diary.
Resources
We have a mix of volunteers and paid staff all of whom make a great and welcome contribution with their enthusiasm and energy. We could not do this without all those who provide this support and we want to take this opportunity to say ‘thank you’ to everyone who has played their part this year.
Financial review
The 2020/21 financial year and significant periods of forced closure due to the Covid-19 pandemic meant many of our usual sources of income were substantially reduced, or non-existent. Hall hire
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Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
income and much of our trading income (from Elvira’s and licensed bar activity along with our own Henderson Hub events) were limited by restrictions on opening and social distancing.
We were forced to lean heavily on statutory support in the form of furlough grants, and Covid support funding from Three Rivers District Council. Abbots Langley Parish Council maintained their financial support during periods of closure, and the Henderson Hall Memorial Hall Trustees kindly waived their rent fee this year.
In the financial year ending 31 March 2021, income was £84,333 (2019/20, 124,487) and expenditure £87,783 (2019/20, £117,420), meaning a small loss of £3,450) was generated (2019/20, surplus of £7,067). Given the situation this year, we are pleased with this stable income base, and we must record our sincere and heartfelt thanks to those named above, and numerous individual donors, who have helped us achieve this. Greater detail on the financial state of affairs is set out in our Statement of Financial Activities.
Reserves
The Trustees have agreed that the Charity should seek to retain between three and six months of the coming year’s expenditure budget in unrestricted reserves. As at 31 March 2021, unrestricted reserves were £43,965 representing equivalent to around six months of planned expenditure for the 2021/22 financial year (expenditure budget for 2021/22 set at £95,036). The Trustees are satisfied that the reserves are adequate at this time.
Structure, governance and management
Governing document
Henderson Hub is a company limited by guarantee, governed by its Articles of Association. It is registered as a charity with the Charity Commission. Membership is open to persons who support the aims and objectives of the Charity and who are willing to pay the annual subscription, subject to approval by the Directors. Each Member has agreed to contribute £1 (one pound only) in the event of the Charity winding up.
Appointment of Trustees
As set out in the Articles of Association Trustees and Directors are elected at the Annual General Meeting with one third retiring each year.
Trustee induction and training
Trustees have developed procedures for the recruitment, induction and training of new Trustees.
Prospective Trustees are introduced to Henderson Hub by means of discussion with existing Trustees in order to assist with understanding the objects of the charity and the role of Trustees.
Organisation
At the start of this financial year, the management of the day to day operations shifted slightly, from a Management Committee under the leadership of the Project Director, to Management Group with four area ‘leads’ each with a dedicated responsibility – Commercial (held by the part time Manager), Premises, Community Outreach and Events. This revised structure has had little opportunity to properly ‘bed in’ in the year due to the required closure periods, and will be reviewed once operational in 2021/22.
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Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
The Board of Trustees meets quarterly, or more frequently as the need arises. Board meetings consider reports from the Management Team and reviews more strategic issues including compliance, governance and future strategy. The skills of the Board include event management and theatre, IT, governance, property, financial and business management as well as charitable fundraising and HR.
Related parties
The Charity has a close relationship with Abbots Langley Parish Council, who act as the Foundation Trustees of the Henderson Hall, and with the Henderson Memorial Hall Trustees who are a registered charity and act as the Management Trustees. These parties act as the landlord for the Henderson Hub Company lease over the Henderson Hall.
Risk management
The Trustees have in place a number of policies and procedures to manage risk. These are kept under periodic review with operational matters, health and safety and financial risk a subject matter at each quarterly meeting. Directors are involved in banking activity, staff engagement and any longer term contract, such as the leasehold tenure of Henderson Hall.
The Trustees also ensure that full insurance is in place and review the requirements annually and as required should circumstances change.
Trustees’ responsibilities in relation to the financial statements:
The Trustees (who are Directors of Henderson Hub Company Limited for the purposes of company law) are responsible for preparing a Trustees annual report and financial statement in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year that give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources for that period. In preparing the financial statements, the trustees are required to:
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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 have been followed, subject to any material departures being disclosed and explained in the financial statements
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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 business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, and applicable Charities (accounts and reports) Regulations. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom
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Henderson Hub Company Limited Trustees’ and Directors’ Report Year ended 31 March 2021
governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The directors’ have taken advantage of Section 477 of the companies Act 2006 which exempts the company from an audit.
The charity is required to have an Independent Examination in accordance with the provisions of the Charities Act 2011.
By order of the board of trustees and signed on their behalf by
A J Stanley Chair of Trustees and Director
29/09/2021
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Hender50n Hub Company Limited rrustee5' and Directors. Report Year ended 31 March 2021 I report on the accounts of the Henderson Hub Company Limited for the year ended 31 March 2021, comprising Statements of Financial Activities of the charity. Balance Sheet anfl sUPPOrt¢ng Noies. Respective responsibilities of trustees and examiner As the charity's trustees of the Company (who are also the directors of ihe company for the purposes ol compèny lawl, you are fesponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2(K)61-the 2( Acfl. Having sat¢sfietl myself that the accounts of the Company are noi requiod to be audited for thls year under Part 16 of the 2006 Act and are eliBible for independeni examination, I report in respect of my examination ol your charivs accounts as carried out under section 145 of the Charities Act 20111"the 2011 Act"). In ¢arrying out my examination, I have lollowed the Dtrectlons gsven by the Charity Commission (under se¢iion 14515llbl of ihe 2011 Act. Independent E¥amlner's Statement I have completed my examination. I confirm that no material matters have come to my attention which 8ives me cause to believe that.. accounttfb8 records were not kept in accordance with sectlon 386 of the Companie5 Act 2006; or the accounts do not a¢¢ord with such records.. or the account5 do not ¢ompty with relevant accounting requirements under sedion 396 of the Companies Aci 2006 oiher than any requirement thai the accounts give a 'true and fairf vlew which 15 not a matter considered 4$ part ol an independent examination,. or the a¢¢ounts have not been prepared In accordance with the Charities SOAP IFRS1021. I have no concerns and have come a¢ross no other matters in connection with the examlnatlon to which attention should be drown in this report in order to enable a proper understandlng ol the accounts to be reached. Sie Hu nR05 arte ountants 1610912021
Henderson Hub Company Limited
Statement of Financial Activities
(including income and expenditure account) for the year ended 31 March 2021
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2021 2020
Unrestricted Restricted
Notes funds funds Total funds Total
£ £ £ £
Income
Donations 5 610 0 610 756
Grants 6 77,630 0 77,630 29,330
Charitable activities 7 6,093 0 6,093 94,401
Total income 84,333 0 84,333 124,487
Expenditure
Charitable activities 8 85,810 1,974 87,783 117,420
Total expenditure 85,810 1,974 87,783 117,420
Net Income/(Expenditure) and net movement
in funds for the year (1,477) (1,974) (3,450) 7,067
Reconciliation of Funds
Total funds brought forward 45,202 42,627 87,829 80,762
Total funds carried forward 43,725 40,653 84,379 87,829
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The notes at pages 11 to 15 form part of these accounts.
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Henderson Hub Company Limited
Balance Sheet As at 31 March 2021
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2021 2020
Unrestricted Restricted
Notes funds funds Total Funds Total
£ £ £ £
Fixed Assets
Tangible assets 10 663 37,546 38,209 41,192
Total Fixed Assets 663 37,546 38,209 41,192
Current Assets
Bar stock 200 0 200 200
Debtors 11 2,919 0 2,919 11,925
Cash at bank and in hand 44,518 0 44,518 50,383
Total Current Assets 47,637 0 47,637 62,508
Liabilities
falling due within one year 12 (4,073) 0 (4,073) (15,871)
Net Current Assets 43,564 0 43,564 46,637
Net Assets 44,227 37,546 81,773 87,829
The funds of the charity 14
Unrestricted income funds 43,725 0 43,725 45,202
Restricted income funds 0 40,653 40,653 42,627
Total charity funds 43,725 40,653 84,379 87,829
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For the year ending 31 March 2021 the company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with s476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the board of trustees on 29/09/2021 and signed on their behalf by
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Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2021 (continued)
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Unrestricted Restricted
funds funds Total Funds Total
2021 2021 2021 2020
£ £ £ £
5 Income from donations
Donation 610 0 610 756
610 0 610 756
Unrestricted Restricted
funds funds Total Funds Total
2021 2021 2021 2020
£ £ £ £
6 Income from grants
Abbots Langley Parish Council 28,000 0 28,000 28,730
Three Rivers District Council 21,451 0 21,451 600
Government - Furlough scheme 28,179 0 28,179 0
77,630 0 77,630 29,330
Unrestricted Restricted
funds funds Total Funds Total
2021 2021 2021 2020
£ £ £ £
7 Income from charitable activities
Income from hall hire (2,485) 0 (2,485) 17,925
Foyer café 5,871 0 5,871 43,759
Bar takings 0 0 0 8,231
Event income (including ticket sales) 2,321 0 2,321 18,768
Income from equipment hire (50) 0 (50) 1,810
Company Membership Fees 280 0 280 556
Associate Members Fees 25 0 25 557
Advertising sales 0 0 0 64
Other income 131 0 131 3,288
6,093 0 6,093 94,958
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Henderson Hub Company Limited
Notes to the accounts for the year ended 31 March 2021 (continued)
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Unrestricted Restricted
funds funds Total funds Total
2021 2021 2021 2020
£ £ £ £
8 Expenditure on charitable activities
Bar stock 126 0 126 4,145
Licencing 1,941 0 1,941 1,797
Café consumables 2,360 0 2,360 13,619
Event production 812 0 812 3,632
Film hire costs 0 0 0 5,449
Materials for events 40 0 40 1,473
Hire of hall 0 0 0 65
Salaries and related costs 61,205 0 61,205 57,446
Depreciation 1,009 1,974 2,982 3,211
Advertising 82 0 82 163
Bank charges 233 0 233 733
Business rates 0 0 0 850
Café cleaning and maintenance 0 0 0 487
Utilities 1,916 0 1,916 4,227
Insurance 2,363 0 2,363 2,576
Telephone and internet 1,512 0 1,512 1,378
Stationery 86 0 86 62
Removal of trade waste 369 0 369 710
Maintenance 5,306 0 5,306 6,799
Rent payable on hall 83 0 83 1,000
Purchase of equpment 0 0 0 54
Professional fees 6,247 0 6,247 4,750
Other 121 0 121 397
Transfer to ALF 0 0 0 2,396
85,810 1,974 87,783 117,419
9 Net income for the year
This is stated after charging: 2021 2020
£ £
Operating leases 0 1,000
Depreciation 2,982 3,211
Accountancy fees 6,247 3,464
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Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2021 (continued)
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10 Tangible fixed assets
Unrestricted Restricted
Funds Funds
Leasehold
Plant and improve-
Equipment ments Total
£ £ £
Cost
at 1 April 2020 9,247 45,393 54,640
Additions 0 0 0
at 31 March 2021 9,247 45,393 54,640
Depreciation
at 1 April 2020 7,575 5,873 14,184
Charge for the year 1,009 1,974 2,983
at 31 March 2021 8,584 7,847 17,167
Net Book Value
at 31 March 2021 663 37,546 38,209
at 31 March 2020 1,672 39,520 41,192
Unrestricted Restricted
funds funds Total funds Total
11 Debtors
2021 2021 2021 2020
£ £ £ £
Trade Debtors (1,541) 0 (1,541) 9,371
Other debtors (Filmbank deposit) 4,460 0 4,460 2,554
Owing to Restricted Fund 0 0 0
2,919 0 2,919 11,925
12 Creditors falling due within a year
2021 2021 2021 2020
£ £ £ £
Trade creditors 1,152 0 1,152 1,274
Other creditors 0 0 0 0
Hall booking deposits 120 0 120 1,120
Accruals 2,505 0 2,505 2,480
Taxation and pension cost due 295 0 295 977
Wages due 0 0 0 0
Deferred hall hire income 1 0 1 10,020
4,073 0 4,073 15,871
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Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2021 (continued)
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13 Deferred hall hire income
Deferred hall hire income comprises advance booking for the hall.
£
Balance at 1 April 2020 10,020
Amount released to income 2,485
Amount credited in year (12,505)
Balance at 31 March 2021 1
14 Analysis of charitable funds
Unrestricted funds Balance Balance
1 April Expendi- 31 March
2020 Income ture 2021
£ £ £ £
Unrestricted funds 45,202 84,333 (85,810) 43,725
Restricted funds Balance Balance
1 April Expendi- 31 March
2020 Income ture 2021
£ £ £ £
Capital works 42,627 0 0 42,627
Total restricted funds 42,627 0 0 42,627
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Henderson Hub Company Limited Notes to the accounts for the year ended 31 March 2021 (continued)
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16 Operating leases
The charity had minimum lease payments payable under operating leases as set out below.
£
Not later than a year 1,000
Later than a year and not later than 5 years 4,000
Later than 5 years 17,000,000000
22,000
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16 Operating leases
The charity had minimum lease payments payable under operating leases as set out below.
£
Not later than a year 1,000
Later than a year and not later than 5 years 4,000
Later than 5 years 17,000,000000
22,000
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