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2023-01-31-accounts

REGISTERED COMPANY NUMBER: 01345395 (England and Wales) REGISTERED CHARITY NUMBER: 275116

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

GO TEACH PUBLICATIONS LIMITED

Heywood Shepherd Chartered Accountants

1 Park Street Macclesfield Cheshire SK11 6SR

GO TEACH PUBLICATIONS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Policies and objectives

The objective of the Company is to advance the Christian faith primarily but not exclusively through the production of Bible-teaching materials for use with children and young people. The said materials are made available for sale throughout the United Kingdom and beyond.

The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake, and, in particular, the special guidance on charities publishing material for use with children and young people.

Main activities to further the Charity's purposes for Public Benefit

The Charity produces a range of Sunday School publications and supporting teaching aids designed to: a) Introduce children to, and broaden their knowledge of, the Bible.

b) Accurately reflect the Bible text.

c) Develop an understanding of Christianity and how it applies to everyday life.

ACHIEVEMENT AND PERFORMANCE

Key Financial Performance Indicators

In determining the key financial performance indicators of this Charity, the following are noted:

a) The level and margins achieved on the supply of Bible-teaching material.

b) The impact the attendance at exhibitions has on the level of turnover.

c) Maintaining strict control over the level of expenditure incurred on support.

Review of activities, as we continued through the covid pandemic

For this current Year, we look as if we have come-out of the effects of COVID quite well, considering. The sales for this past year are significantly higher than last year, with the number of credits having to be issued to Bookshops also significantly reduced. Our customer base (Sunday Schools in churches) has predominantly re-opened, and is purchasing our materials afresh - the sales figures in this financial year, especially from September, show a fuller resumption of increased Sunday School, youth, and children's work re-starting in churches, and the gradual re-introduction of regular activities, albeit probably with lower numbers than before the Pandemic. Over the year, we have been encouraged to have had a significant number of New Customers buying our material.

We took on a part-time freelance Editorial Coordinator for Go Teach from June 1st 2022, in-order to, at least partially, replace the full-time Position that had been vacated prior.

We are pleased to report we have not had to touch our Reserve Fund at all over the year, and we currently have circa. 4 months finances in reserve. As to the future - we are aware that COVID rates are lower, and treated as seasonal flu, and the Government's annual vaccination program encourages us this may continue to be so. This encourages us that this coming Financial Year will not be as unpredictable as the previous few years, as children's & youth work continues fully in churches at similar or slightly lower levels than they were prior to COVID. We do not know if churches will have changed how they engage with youth and children's work - we simply cannot predict what effect the Pandemic's knock-on effects will have on us as we go into the 2023-2024 Financial Year.

Fundraising activities/Income generation

Go Teach has no plans to use the services of a fundraiser to seek support of any of its current activities.

Investment policy and performance

The company does not invest monies in shares, but places any surplus funds in Deposit Accounts to earn interest prior to it being withdrawn for use within the company's activities.

The Income Units held by the COIF Charities Investment Fund, are held as short-term investments. In time, the Board of Trustees will consider whether the Units should be deemed as a long-term investment or be disposed of as soon as appropriate.

Page 1

GO TEACH PUBLICATIONS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

FINANCIAL REVIEW

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, and certainly through this current Financial Year. For this reason, they continue to adopt the going concern basis in preparing the Financial Statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies

Reserves policy

The company endeavours to maintain a Reserves Policy whereby funds equivalent to three months Administration expenses are held within Bank Accounts. In addition, reserves are transferred from the general fund to ensure that no designated or restricted fund produces a deficit.

At 31 January 2023, Unrestricted Funds totalled £116,662, well in excess of three months Administration expenses, which for the year ended 31 January 2023 was £38,247.

FUTURE DEVELOPMENTS

Sales have increased, yes, and it is our aim to increase sales again in this current Financial Year - although how that will go in our "continuing to adapt" traditional market-place is uncertain. The Staff and Directors realise increasing costs within society, churches, and our production process will affect Go Teach in many ways, but we will strive to overcome all barriers ahead of us, so that we are here and able to report on another year this time next year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

The company is constituted under a Memorandum of Association dated 22 December 1977 and is a Registered Charity, number 275116. The company is limited by guarantee.

Method of appointment or election of Trustees

The management of the Company is the responsibility of the Trustees, who are elected and co-opted under the terms of the Articles of Association.

In accordance with Articles 34 to 37:

We are looking to strengthen the Board of Directors and have had three people nominated in April 2021 for a supporting body.

Organisational structure and decision making.

The Board continues to meet monthly, but have additional meetings if necessary, so as to discuss issues and vote on matters arising.

Risk management

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems are in place to mitigate the exposure to the major risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01345395 (England and Wales)

Registered Charity number

275116

Registered office

Paradise Mill Park Lane Macclesfield Cheshire SK11 6TL

Page 2

GO TEACH PUBLICATIONS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2023

Trustees T Jones G James Chair and Trustee E Brady K I Davies Company Secretary L Leighton Independent Examiner Mr N A Kennington Heywood Shepherd Chartered Accountants 1 Park Street Macclesfield Cheshire SK11 6SR Bankers The Co-operative Bank P.O Box 250 Delf House Southway Skelmersdale WN8 6WT

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 4 May 2023 and signed on its behalf by:

G James - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GO TEACH PUBLICATIONS LIMITED

Independent examiner's report to the trustees of Go Teach Publications Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 January 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 accounts to be reached.

Mr N A Kennington

Heywood Shepherd Chartered Accountants 1 Park Street Macclesfield Cheshire SK11 6SR

4 May 2023

Page 4

GO TEACH PUBLICATIONS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
General
Investment income
2
Other income
3
2023
2022
Unrestricted
funds
Total funds
£
£
458
13,029
156,560
107,809
473
410
-
49,481
Total 157,491
170,729
EXPENDITURE ON
Raising funds
Charitable activities
General
Support costs
Goverance costs
1,238
50
50,244
132,387
99,493
26,600
2,013
1,538
Total 152,988
160,575
Net gains/(losses) on investments (592)
1,442
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
3,911
11,596
112,751
101,155
TOTAL FUNDS CARRIED FORWARD 116,662
112,751

The notes form part of these financial statements

Page 5

GO TEACH PUBLICATIONS LIMITED

STATEMENT OF FINANCIAL POSITION 31 JANUARY 2023

Notes
FIXED ASSETS
Tangible assets
7
Investments
8
2023
2022
Unrestricted
funds
Total funds
£
£
3,720
4,661
14,391
14,983
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank and in hand
18,111
19,644
32,210
32,191
9,306
8,238
75,350
73,081
CREDITORS
Amounts falling due within one year
11
116,866
113,510
(9,815)
(11,903)
NET CURRENT ASSETS 107,051
101,607
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
125,162
121,251
(8,500)
(8,500)
NET ASSETS 116,662
112,751
FUNDS
15
Unrestricted funds
116,662
112,751
TOTAL FUNDS 116,662
112,751

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 6

GO TEACH PUBLICATIONS LIMITED

STATEMENT OF FINANCIAL POSITION - continued 31 JANUARY 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 4 May 2023 and were signed on its behalf by:

G James - Trustee

The notes form part of these financial statements

Page 7

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on reducing balance Computer equipment - 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 8

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

1. ACCOUNTING POLICIES - continued

Company status

The company is a UK company limited by guarantee. The members of the company are the Trustees named in the Trustee report. The registered office is as detailed in the Trustees report. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

2. INVESTMENT INCOME

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |Unrestricted| |funds|Total funds| |£|£| |Income from listed investment|416|405| |Deposit account interest|57|5| |473|410| |OTHER INCOME| |2023|2022| |Unrestricted| |funds|Total funds| |£|£| |JRS Grant|-|44,481| |Local Government Grant|-|5,000| |-| |49,481|

----- End of picture text -----

3. OTHER INCOME

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Depreciation - owned assets|941|1,168| |Hire of plant and machinery|1,006|885|

----- End of picture text -----

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 January 2023 nor for the year ended 31 January 2022.

continued...

Page 9

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

5. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

There were no Trustee expenses during the year.

6. STAFF COSTS

The average monthly number of employees during the year was as follows:

Administration
Editorial
2023
1
2
3
2022
1
3
4

No employees received emoluments in excess of £60,000.

7. TANGIBLE FIXED ASSETS

Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 February 2022 and 31 January 2023
200
25,232
DEPRECIATION
At 1 February 2022
90
20,681
Charge for year
30
911
At 31 January 2023
120
21,592
NET BOOK VALUE
At 31 January 2023
80
3,640
At 31 January 2022
110
4,551
Totals
£
25,432
20,771
941
21,712
3,720
4,661

8. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 February 2022
Revaluations
Listed
investments
£
14,983
(592)
At 31 January 2023 14,391
NET BOOK VALUE
At 31 January 2023
14,391
At 31 January 2022 14,983

There were no investment assets outside the UK.

continued...

Page 10

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

8. FIXED ASSET INVESTMENTS - continued

COIF Charities Investment Fund Units were transferred to Go Teach Publications Limited from Grace Baptist Ministry to the Young during 2009. The units were valued on transfer at £8,560.95.

Cost or valuation at 31 January 2023 is represented by:

Value on Transfer
Valuation in
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
Value at 31 January 2023
9.
STOCKS
Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
VAT
Prepayments and accrued income
£
8,561
(2,338)
882
591
(237)
887
324
749
(237)
1,245
852
10
1,737
515
1,442
(592)
14,391
2023
£
32,210
2023
£
5,900
568
2,838
9,306
2022
£
32,191
2022
£
6,594
834
810
8,238

continued...

Page 11

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accruals and deferred income
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 13)
13.
LOANS
2023
£
6,439
1,516
1,860
9,815
2023
£
8,500
2022
£
7,042
2,088
2,773
11,903
2022
£
8,500

Other loans comprise loans from;

Evangelical Movement of Wales £1,000. The loan is unsecured, interest free and with no fixed terms of repayment.

Grace Baptist Ministry to the Young £7,500, is a long term form of finance to the company and only becomes repayable in the event of a winding up of Go Teach Publications Limited. This was confirmed by them in 2018.

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
2023
£
12,000
12,000
24,000
2022
£
12,000
24,000
36,000

The lease payments above are for a new operating lease agreement for the rental of the property First Floor Lower Paradise Mill which is currently under negotiation. The term of the agreement is from 2019 to 2024. The agreement is for £12,000 per annum.

15. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
At 1.2.22
£
Unrestricted funds
General fund
102,055
Grace Baptist Ministry to the Young
6,000
Evengelical Movement of Wales
250
Revalution reserve
4,446
Net
movement
in funds
£
3,911
-
-
-
At 31.1.23
£
105,966
6,000
250
4,446
112,751 3,911 116,662
TOTAL FUNDS
112,751
3,911 116,662

continued...

Page 12

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
157,491
Resources
expended
£
(152,988)
Gains and
losses
£
(592)
Movement
in funds
£
3,911
TOTAL FUNDS
157,491
(152,988) (592) 3,911
Comparatives for movement in funds
At 1.2.21
£
Unrestricted funds
General fund
89,944
Grace Baptist Ministry to the Young
6,000
Evengelical Movement of Wales
250
Revalution reserve
4,961
Net
movement
in funds
£
11,596
-
-
-
Transfers
between
funds
£
(1,442)
-
-
1,442
At 31.1.22
£
100,098
6,000
250
6,403
101,155 11,596 - 112,751
TOTAL FUNDS
101,155
11,596 - 112,751

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Incoming
Resources
resources
expended
£
£
170,729
(160,575)
Gains and
losses
£
1,442
Movement
in funds
£
11,596
TOTAL FUNDS 170,729
(160,575)
1,442 11,596

continued...

Page 13

GO TEACH PUBLICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2023

16. EMPLOYEE BENEFIT OBLIGATIONS

The company operates a defined contributions pension scheme.The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged represents contributions payable by the company to the fund and amounted to £1,661 (2022 - £2,198). At the balance sheet date there were £1,516 in contribution payments outstanding.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 January 2023.

18. GRACE BAPTIST MINISTRY TO THE YOUNG

During the year ended 31 January 2009, The Grace Baptist Ministry to the Young made £10,672.48 available to Go Teach Publications Limited.The funds were to be utilised as follows: £5,000 was to be used to increase participators funding to £6,000, £5,500 was to be used to increase the existing loan up to £7,500 and the remaining £172.48 was to be taken as a gift to Unrestricted Funds.

There was no restriction on the use of the funds made available.

The funds comprised COIF Charities Investment Fund Units valued on transfer at £8,560.95 and the remainder in cash.

At the 31st January 2023 these investments were valued at £14,391, a decrease of £592. This decrease has been credited to a revaluation reserve.

The Loan from The Grace Baptist Ministry to the Young of £7,500 has been treated as only repayable in the event of a winding up of Go Teach Publications Limited.

Page 14

GO TEACH PUBLICATIONS LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Income from listed investment
Deposit account interest
Charitable activities
Charity trading income
Other income
JRS Grant
Local Government Grant
Total incoming resources
EXPENDITURE
Raising donations and legacies
Advertising
Charitable activities
Wages
Printing
Distribution
Subcontract
Support costs
Management
Wages
Pensions
Hire of plant and machinery
Rent, rates and water
Insurance
Telephone
Postage and stationery
Sundries
Honoraria
Travel
Carried forward
2023
£
458
416
57
473
156,560
-
-
-
157,491
1,238
75,597
24,219
12,760
9,495
122,071
-
1,673
1,006
12,415
431
919
225
40
432
457
17,598
2022
£
13,029
405
5
410
107,809
44,481
5,000
49,481
170,729
50
92,359
20,650
9,137
-
122,146
10,241
2,198
885
9,465
645
1,054
585
10
-
274
25,357

This page does not form part of the statutory financial statements

Page 15

GO TEACH PUBLICATIONS LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2023

Management
Brought forward
Professional
Repair & maintenance
Computer supplies & support
Photocopier
Depreciation of tangible and heritage assets
Finance
Bank charges
Governance costs
Independent examiners fees
Companies House fees
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments
Net income
2023
£
17,598
557
50
5,259
1,159
941
25,564
2,102
2,000
13
2,013
152,988
4,503
(592)
3,911
2022
£
25,357
670
224
5,010
1,145
1,168
33,574
3,267
1,525
13
1,538
160,575
10,154
1,442
11,596

This page does not form part of the statutory financial statements

Page 16

GO TEACH PUBLICATIONS LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

----- Start of picture text -----
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6 to 7
Notes to the Financial Statements 8 to 14
Detailed Statement of Financial Activities 15 to 16
----- End of picture text -----