Regl$tered number: 11121606 Charity number.. 1176502 INTEGRITY INTERNATIONAL TRUST (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
INTEGRITY INTERNATIONAL TRUST IA company limited by guarantee} CONTENTS Pagg Reference and admlnl8trative details of the Companyi its Trustees and advlsors Trustee8' report Independent examlner's report Statement of flnanclal actlvlt1è8 Balance bheet Notes to the flnanclal statements 9-18
INTEGRITY INTERNATIONAL TRUST IA company limited by guaranteel REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees P K Malharu R S Malharu T K Malharu T S Malharu K K Malharu V S Malharu H D Smith S R Slamerr8 Company reglgtered number 11121606 Charlty r8gl$tored number 1176502 Reg18tered offl¢ 10 Que¢n Street Place London EC4R 1BE Page 1
INTEGRITY INTERNATIONAL TRUST {A company Ilmlted by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and the financial statements for the year ended 31 December 2024. The charitablè company was incorporated on 21 December 2017. The accounts have been prepared for the year 10 31 December 2024, with comparatives for the year to 31 Dec8mber 2023. The financial statements comply wllh the Charities Act 2011, thè Companies Act 2006, the Memorandum and Articles of Asso¢i81itsn, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charrties preparing their accounts in accordanc8 with the Fin8nci81 Reportlng Slanéard 8pplicable In Ihe UK and Republic of Ireland {FRS 102} (Second Edition) effective 1 January 2019. Trust988 of the charlty The Iwslees ol the charitable company aro the dirKlors for the pu¥p08e8 of company law. The Iruslees who have sgrved during the yoar and since the yeai end wefe as follows.. P K Malharu R S Malharu T K Malharu T S Malharu K K Malharu V S Malharu H D Smith S R Slamerra Oblectlves and actlvltle8 a. Fundralslng actlvltle8 Durins tha year Integrity International Trust received funds from donations. The Charity did not employ any person or third.party Company lo act on behalf of the Charity for the purpose ol fundraising. Th? Chgrily did not rgcoivo any complaints during the year. P8ge 2
INTEGRITY INTERNATIONAL TRUST IA company Ilmlted by guarantsel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Objèctives and activitie$ lcontinuedl b. Ob5ectlvo$ and Publlc benefit statement Integrity International Tru31'9 IIITI mission is lo build brighter futures for the most vulnerable peopl8 in society. There are no geographical boundaries to this remit., where there is 8 significant need, and IIT, or our partner8. have the expertise and resources lo assist to create suslainablo solutions. IIT intervenes. Our objecllves are.. To empower & protect vulnerable people- Provid& educatlon., and Confronting Sex trafficking o To raise the awareness of the global Issu6 of sex trafficking o To make po811ive changes to the Ilves of those affected by sex Irafflcking o To prevent indivlduals in highly vuln6rabl8 environments from bg¢oming subject lo sex trafficking 0 To build th8 Nep81 Community Education & Welfare Centra lo as81sl those who havè been rescued from sex Iraffickin9 in 8ecurin9 9 posllive future o To asslst In brlnging sex traffickers lo juslieè and &8curing more convictions. Enable lob opportunrties and Skills Restore I build community, w81far8 and educatlon81 faellllles Maintain hgallh & welfare The Tru81888 confirm that they have had rggard lo the guidance on public benefit 18SU8d by the Charity Comml$$lon when ¢on$ld&ring Ihtr objecliv&s and activities of the Charity. ¢. AGtlvltles durlng the Year The actSvbties durSng the year were.. Charity Cricket Fe$liv81 Faghion Frenze@ Bums Nlghl Chailly Gala Dinner During the year, the Charty made grant¥ and donations lo the following enlilies.. Oracle Goncer Trust Medeclns Sans Frontlere8 University of KwaZulu-Nalal Lord's Taverners Indian Ocean Disaster Relief Lord Mayorfs Appeal Justice and Care Grand Plan Th8 analysis of these grants and donations is detailed within Note 6. Page 3
INTEGRITY INTERNATIONAL TRUST (A company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and performanGe Financial review a. Reserves pollcy The results for the year are shown in the Slatemenl of Flnancial Activitie8 on page 6. Thare was a deflcil of £12,645 in the year131 Dernber 2023.. Sury)lus of £23,686). The Statement of Financial Activities shows income for the year of £71.61412023.' £45, 16418nd exp8nditure of £84.25912023.' £21,478). The majorty of the 8xpendilurè during the year I£S9,6401 was on donations. The Trust888 confirm that Ihgy havg id$nlified and reviewed the major risk to which the charity is gxposed and have established systems to miligale those risks, such as regular meetings of the BDard of Trustees and the use of profe8sion81 advisors where neces88ry. These inclLJde ensuring that the Board is appropriately fulfilling Ils responsibllilies under the Companies Act 2006 and Charille$ Ad 2011. The Trustees have Gonsldered tho impact ol th& currenl economic climat8 on ils operations, and th8 negativ8 unreslricled fund8 position, and belleve il approprlate for the going concern basis lo be adopted for these accounls. At 31 December 2024 the Charity held lolal funds of £38,185 (2023.. £50,830) of whi¢h £24.917 comprised restrieled funds12023.' £39, 798). At 31 December 2024 the chanly held a surplus in free reserves Ilhal is, those funds not Iled up In deSnated and restricted funds) of £13,268131 D8c8mb&r 2023.. £11,0321. Given that the Charity has few commillad costs and that the malorily of the expenditure Is In relatlon lo grants and donallons which are mède, havlng consldered the fund5 available lo the Trustees, the Trustees are satisfied that the level of reserves is appropriate.. Structure• gov&rnance and management Constltutlon Integrity International Trust is registered with the Charity Commission and i¥ also a cgmpony limited by guarantee. The M8morandum and Articles of Association of the Company conslilule the governing document. b. Methods of appolntment or electlon of Trustees The Trustees are appolnted by the founder, per the Governing Document. During th8 year of lhasa financial stslemenls and the previous year, the Charity did not employ any staff and the day to day management of the Charily was carried out by the Tru81ees. c. Governing body The governing b¢)dy of the Charity 18 the Board of Truslee8. d. Responsibilities of trustees The Trustees are resF)onsible for setting strategies and policies for the charity and for ensuring that these are implemented. Page 4
INTEGRITY INTERNATIONAL TRUST (A company limited by guarante&l TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Statamant of Trusteos, responsibilities The Trustees (who are also Ihe directors of the Company for the purposes of company law) are responsible for prèparing the Trustees, repoTt and the financial slalemenls in accordance with applicable law and United Kingdom Aceounling Standards IUnf(ed Kingdom G8narally Accepl8d Accounting Practi¢81. Company law requires the Trus188S to pr8pare fi'nancial sta18rnenls for 8ach financial . Under company law, the Trustees must not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate of affairs ol the Company and of Its Incoming rèsources and appllcallon of resources, Includlng Its incorne and expenditure, for that period. In preparing these financial slalemenls, the Trustees aTe required to.. select suitable aecounling polieies and then apply Ih8m eonsistenlly., observg the melhodg end prinoiples of the Ch8rilies SORP IFRS 1021.. make judgments and accounting eslimales that are reasonable and prudent., stsle whether applicable UK Accounting Standards IFRS 102} have been followed, $ubje¢l lo any materlal departurès disclosed and èxplalned in the finaneial statèments. prepare the flnancial slalemenls on the going ¢on¢ern basis unle$$ It 1$ inapproprlale lo presume that th& Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient 10 8how and explaln the Compan8 transactions and disclose with reasonable accuracy al any lime the flnancl81 position of the Company and enable them lo ènsure that the flnancial stslements comply with the Companies Act 2006. They are also responsible for safeguarding the a$set$ of the Company and hence for laking reasonable Steps for the prevgnlion and detection of fraud and other irregul8rfligs. Approved by order of the members Df the board of Tru8te88 and 8igneé on their behalf by.. T S Matharu Dale., Pe5
INTEGRITY INTERNATIONAL TRUST A company limited by guarant&g1 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's Report to the Trustees of Integrlty Internatlonal Trust {'the Company'l I report to the charity Trustee8 on my examination of the accounts of the Company for the year ended 31 Decembgr 2024. Responslbllltles and Bas1¥ of Report AS the Trustees of the Company land Ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in ac¢ordance with the requirements of the Companies Ad 2006 {'Ihè 200S ACYI. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Company's accounts carried out under section 145 of th8 Charilies Acl 2011 I'the 2011 Act'l. In carrying out my examinatlon I have fgllowed the Directions given by the Chafily Commi8sion under section 14SIS)Ibl of the 2011 Act. Independent Examlnerfs Ststèment I hav8 compl8led my èxaminallon. I conflrm that no mallors havè come lo my allenlion in Gonnectlon with the ex8mination giving rng cguse lo beliove.. accounting rg¢ords were not kept in respect of the Company a8 required by Section 386 of the 2006 A¢t', or the accounts do not accord with those rècords.. or the accounts do not comply with the accourbling r9quirem9nts of Sgcllon 396 of the 2006 Act other than any requiromenl that the accounts give a 'lrue and fair. view which is not a mallei con8ldered as part of an ind8P8nd8nl examination., or the accounts have not been prepad in accordance wllh the method8 and principl8s of the Slalemenl of Reeommended Practice IOT accounting and reporting by Gharilies applicable lo charities preparing Ih8ir aecounls in aceordanc@ with lh8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I hav8 no concelns and have come across no other matters in connectlon with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo b8 reached. This tsport 13 made solely lo the Company5 Trustees. as a body, in accordanco with Part 4 of the Charities (Accounts and Reports) Regulations 20D8. My work has been undertaken so Ihal I might slate Its the Companys Trustees those matters l am required lo slate lo them in an Independent examiner's report and for no Dther purpose. To the fullest extent p&rmllled by law. I do not aceepl or assume responsibility lo anyone olhgr than Ihg Company and the Company's Trustees as a body, for rny work or for this report. Signed.. S lyaroD ACA Barnes Roffè Advisory Limited Chartered Accounlanls Leytonslone House 3 Hanbury Drive London E11 1GA Dated.. 19 December 2025 Page S
INTEGRITY INTERNATIONAL TRUST IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted funds 2024 Re5trlcted funds 2024 Total funds 2024 Tot81 funds 2023 Not Income from: Donation$ and legacies 46,495 25,119 71,814 45,164 Total Income 46,495 25.119 71,614 45,164 Expendltur8 on: Charilabla aelivities 44.259 40.000 84,259 21,478 Total 8xpondltur• 44,269 40,000 84,259 21.4T8 Not Income and net movement In funds 2,236 114,8811 112,6451 23,686 R9conclllatl¢n of funds: Total funds brought fornard Net movement In funds 11,032 2,236 39.798 114.8811 60,830 112,6451 27, 144 23,686 Total funds carrlod lorward 13,268 24,917 38,185 50.830 The Stotemenl of Financial Activitie8 includes all galns and losses recognised in tha yaar. The notes on page$ 9 10 16 form part tsf these financial slalemenls. Page 7
INTEGRITY INTERNATIONAL TRUST IA company Ilmlted by guarantee) REGISTERED NUMBER: 11121606 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Current ass8ts Dsbtors Cash al bank and in hand 15,383 38,267 775 57,853 51,650 58,628 Currnnt Ilabllltles Cred6tor8'. amoun18 falling due within ong year 10 113,4661 (7, 798) Not current assets 38,185 ),830 Total assets loss currènt Ilabllltlgs 38,186 59,830 Total net assets 38,185 50,830 Charlty funds Reslricled funds Unrestrlcled funds 24,917 13,268 39, 798 11,032 Total funds 38,185 50,830 The Company was enlilled to exemption from audll under 8ecllon 477 of the Companies AGI 2006. The members have not required the company lo obtain gn audit for the year in question in accordance wilh section 476 of Companies Act 2006. The Trustees acknDwledge their responsibilities for complying wf(h th8 r8quirements of the Act wlth respect lo accounting records and preparation of financial statements. The linancial statements have been prepared in accordance with the provisions applicable lo entities subjecl lo the small companies regime. The financial slalements were approved and aulhorised for issue by the Trustees 8nd slgned ¢)n thèir behalf by- T S Matharu The notes on pages 9 to 16 fomi part of the80 finanGial slatemenls. Page 8
INTEGRITY INTERNATIONAL TRUST {A company limtted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General Infomiatlon Integrity International Trust ('Ihe Companl'l is a private eompany limi(ed by guarantee, incorporated in England and Wales. The Company's registered office is 10 Queen Street Place, London EC4R 1 BE. A¢Gountlng pollclgs 2.1 Basls of preparatlon of flnanclal statements The financlal statements havè been prepar@d in accordanc8 with the Charities SORP IFRS 1021 AcGounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charitie8 preparing their accounts in accordanc8 with the Financial Reporting Standard applieable Sn the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard appllcable In th& UK and Republie of Ireland IFRS 1021 and th8 Companies Act 2006. Integrity Intemalional Trust meets the definition of a public benefi't entity under FRS 102. Assets and liabili11gs are initially recognised al h181orical cost or Ir8nsaction value unle¥$ otherw189 8lated In the relevant accounting policy. 2.2 In¢omo All income 18 recognised once the Company has entitlement lo thè income, il is probable that the Income will be received and the amount of income re¢¢ivablg Can be measured reliably. 2.3 Expondlture Expenditure is r&cognlsed once thère is a legal or conslruclive obligation lo Ironsfer g¢onomic benetil lo a third party, il 18 probable that a transfer of economic benefits will b8 r8quir8d in settlement and the amount of Ihg obligation Can be mgasurgd reliably. Expenditure 18 clas8ified by aclivily. The co818 of each activity are made up of the lolal of direct costs and shared costs. Includlng support costs involved in undertakSng each actlvlly. Direct costs allribulable to a single activity ere allocated dirg¢lly lo th81 adivily. Shared c051s which contribute lo more than one activity and support costs which are not allribulable lo a singlo ?¢livily OT9 apportioned beeen those 8clivitios on a basis consislenl with the use of resources. Central stsff cosls are allocated on the basis of Ilme spent. and depreclallon charggs allocated on the portion of the asset's use. Expenditure on eharilable aclivili$s is incurred on directly undertaking the activities which further the Companys objectives, as well as any associated support costs. Grants payable are charged In the year when the offer is made 8XC8pI in th058 cases where the offer Is conditional, sueh grants being recognised os expenditure when the conditions attaching are fulfilled. Grant5 offered subject to conditions whith have not been mel al the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.4 Debtors Trad& and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid n81 of any trade discounts due. Page 9
INTEGRITY INTERNATIONAL TRUST IA company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (contlnuedl 2.5 Cash at bank and In hand Cosh al bank and in hand incluLYes cash and short-lerm hlghly Ilqutd inveslmenlg with a short rnalurity of three months or less from the dale gf aoquisition or opening of the deposit or Similar account. 2.6 Llabiliti68 and provisions Liabilities are recogni8ed when there is en obligation 91 the Balance sheet dale as a result of a past event, il 18 probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can b8 8slimal$d r91iably. Liabilities are recognised al the amount that the Company anticipgle5 11 wlll pay lo settle the debt or the amount it has received as advanced payments for th& goods or s8rvices il musl provide. Provlsions are measured al the best eslimale of the amounts requlred to settle the obligation. Whgre the 8ff8cI of the lime value of money 18 material, the provision is basod on the present value of those amounts, di8counled at the pre•lax dlscounl rale that réflect8 the risks sp8ckfic lo the liabillty. The ut)winding of the dlscounl Is reeogftisèd in th8 Slalemenl of financlal actlvllles as a finance cost. 2.7 Flnanclal Instruments The Company only ha6 fln8ncial assets and financial Ilabililies of a kind that qualSfy os basic financial Instruments. Basic fin8nGial instrurnenls are initially recognised al Iransacllon value and subsequently measured at th8ir s8tt18m8nl value with the exception of bank loans which are sub$equenlly mgasurgd al amortised ¢081 using the effective intere81 method. 2.8 Fund accountlng General funds are unreslricled funds which are available for use al Ihe discretion of the Trustees in furtherance of the gen&ral ObectIveS of the Cornpany and which hav9 not bogn designalod for other purp08e6. Restricted fijnds are lunds which are lo be used in accordance with specific reslrlcllons imposed by donors Dr which have been raised by the Company for particular purposes. The costs of raising and administering such funds are char9ed against the specific fund. The aim and use of each reslricled fvnd is sel out In the notes lo the financial statem8nls. Incomg from donations and legacies Unrestricted Re$tricted funds funds 2024 2024 Total funds 2024 Donations 48,49S 25,119 71.614 Page 10
INTEGRITY INTERNATIONAL TRUST IA company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies Icontinuedl Unr&slricteé R&sIrted funds funds 2023 2023 Total fvnd$ 2023 Donations 43, 126 2,038 45. 164 Analysls of grants Grants to Instltutlons 2024 Total funds 2024 Grants. Indian Ocegn Dlsasler Rellef - Srl Lanka Grants, MSF Gran18. Univèrtslty of KwaZulu-Nalal Grants. Lord'$ Taverngrs Grants, Grand Plan Grant8, Lord Mayor's Appeal Grants. Justic and Care Grants. Ora¢le Cancer Tfu$I 10.000 30,000 s,ooo 1,084 1,000 801 10,000 1,755 10,000 30,000 5,000 1,084 1,000 801 10,000 1,755 59,640 59,640 Gr8nls lo Inslilulions 2023 Total funds 2023 Grants. Oracle Cancer Trust Grants, Women's Space Ergon 6,995 6,390 6,995 6,390 13,385 13,385 Page 11
INTEGRITY INTERNATIONAL TRUST IA company limitsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysi¥ of expenditure on Gharltable actlvltles Summary by fund type Unrèstrlcted Restrlcted funds funds 2024 2024 Total 2024 Govemance costs Indian Ocean Di888ler Relief - Sri Lanka MSF Univertsity of KwaZulu-Natal Lord's Taverners Grand Plan Lord Mayorfs Appeal Justic and Cara Ora¢le Can¢er Trust 24,619 24,619 10,000 30,000 5,000 1,084 1,000 801 10.000 1,7SS 10,000 30.000 5,000 1,084 1,000 801 10,000 1,755 44,259 40,000 84,259 unStcted funds 2023 To14yI 2023 Governan¢g costs Oracle CanGer Trust Women's Space Ergon 8,093 6, 995 8,390 8,093 6,995 6,390 21,478 21,478 Page 12
INTEGRITY INTERNATIONAL TRUST {A Gompany Ilmltgd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expenditur& by activltlès Grant funding of activitios Support costs Total funds 2024 2024 2024 Governance c0818 Indian Ocean Dis88ttr Relief - Sri Lanka MSF UnivertsFty of KwaZulu-Natal Lord's Tavern6rs Grand Plan Lord Mayor's Appe81 Ju$lie and Care Oracle Cancer Trust 24,619 24.819 10,000 30,000 5,000 1,084 1.000 801 10,000 1,756 10,000 30,000 5,000 1,084 1,000 801 10,000 1,755 59,640 24,619 84.269 Grnnl funding of aclivili&s Support costs 2023 2023 Tolal funds 2023 Governance costs Oracle Cancer Trust Women's Spac8 Ergon 8,093 8,093 6,995 6,390 6,995 6.390 73,385 8,093 21,478 Page 13
INTEGRITY INTERNATIONAL TRUST {A company limlted by guarante81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Independènt èxaminer'$ remuneration 2024 2023 Fees payable to the Compan¥s Independent examiner for the independent examinalltsn of th8 Company's annual accoun18 Fees payable to the Company's independent examinèr In respect of.. All taxation advisory seNlces not includÈd above All other seNices not included abov& 1,676 1, 600 1.155 906 1, 100 865 Trustses, remunoratlon and expenses Durlng the year, no Tru81ee8 received any romuneralion or other benefits (2023- £NIL}. During the year ended 31 December 2024, no Tiuslee expenses have been Incurred (2023- £NILJ- Debtors 2024 2023 Trade debtor8 Other debtor8 Prepayments end aGcTued InM8 1,600 13,006 877 775 15,383 775 Page 14
INTEGRITY INTERNATIONAL TRUST IA company limitod by guarante81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Creditors: Amounts falllng due wlthSn one year 2024 2023 Trade creditors other creditor8 Accruals and deferred income 4.698 6,266 7,200 3, 100 13.466 7. T98 11. Summary offund8 Summary offund$- ¢urr0ntyear Balanca at 31 December 2024 Balance at 1 January 2024 Incomo Expendlturg General funds Ra8lricled funds 11,032 39,798 46,496 26,119 144,2591 140,0001 13,268 24,917 50,830 71,614 184.2591 38,186 Summary offund$- prlor year Balance al l J8nuary 2023 8al8nce ?1 31 Dec8mbor 2023 Income Expendituro General fund8 Re81ricled funds (10,616) 37,760 43. 126 2,038 {21,478) 11,032 39, 798 27, 144 45, 164 f21.478J 50,830 Page 15
INTEGRITY INTERNATIONAL TRUST IA Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Analysis of net assets betsveen funds Analysls of net assets betwèèn funds- currant period Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Current assets 26.733 {13,4651 24,917 51,850 13.4651 Creditors due within one year Total 13,268 24,917 38,185 Analysls of net a8$Ots bgtwoen funds - prlor p•rlod Unrestricted Reslricled funds lunds 2023 2025 Total funds 2023 Current a88e18 Creditors due wllhin one year 18,830 f7, 798) 39.798 58, S28 (7, 798) Total 11,032 39,798 50,830 Pag8 16