REGISTERED CHARITY NUMBER 313877
GILCHRIST EDUCATIONAL TRUST UNAUDITED REPORT AND ACCOUNTS FOR THE YEAR ENDED
2 9 th FEBRUARY 2024
GILCHRIST EDUCATIONAL TRUST REPORT AND ACCOUNTS For the year ended 29th February 2024
| Contents | Page |
|---|---|
| Reference and Administrative Information | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9 - 15 |
GILCHRIST EDUCATIONAL TRUST Reference and administrative information For the year ended 29th February 2024
| Trustees: | Mr C.E.S. Whitbread, BSc.(Hons) Chairman |
|---|---|
| Professor S.R. Harrop, LLB | |
| Professor F.L. Pearce, PhD. | |
| Dr J.H. Hemming, CMG, D.Litt. | |
| Mrs S. Winser, BSc | |
| Secretary: | Mrs J.V. Considine, A.C.I.S. |
| Office: | 43 Fern Road |
| Storrington | |
| Pulborough | |
| West Sussex | |
| RH20 4LW | |
| Registered Charity Number: | 313877 |
| Independent Examiner: | Anthony Epton - Charities Partner |
| Goldwins Limited | |
| 75 Mygrove Road | |
| West Hampstead | |
| London | |
| NW6 2EG | |
| Fund Managers: | M&G Securities Limited |
| The M&G group | |
| M&G House | |
| Victoria Street | |
| Chelmsford | |
| Essex | |
| CM1 1FB | |
| Bankers: | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ | |
| CCLA Investment Management Limited | |
| Senator House | |
| 85 Queen Victoria Street | |
| London | |
| EC4V 4ET |
This information forms part of the Trustees' report on pages 2 to 5
Page 1
GILCHRIST EDUCATIONAL TRUST Trustees' Report For the year ended 29th February 2024
The Trustees have pleasure in presenting their report together with the accounts for the year ended 29th February 2024.
Structure, Governance and Management
The maximum number of Trustees permitted by the governing instrument is five.
The governing instrument is the codicil of 8th December 1840 to the Will of the late Dr John Borthwick Gilchrist.
The trust was registered as a charity on 23rd December 1966 and the number 313877 allotted to it in March 1987.
Method of Appointment of Trustees
Vacancies are rare but when one occurs, the remaining Trustees seek someone who is qualified by training or experience, in one or more of the trust's areas of interest, and personally invite that person to join them.
The appointment of a new trustee is confirmed by Deed.
Trustees' Responsibilities
The Trustees are responsible for preparing the Trustees' Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the Trustees are required to:
select suitable accounting policies > observe the methods and principles in the Charities SORP (FRS 102) > make judgements and accounting estimates that are reasonable and prudent > prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue business
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Objectives and Activities
The trust currently makes grants to:-
i) Organisations seeking to fill educational gaps or to make more widely available a particular aspect of education or learning.
ii) Individuals who are either (a) within sight of the end of a self-financed degree, or higher education course, and who are facing unexpected financial difficulties which may prevent completion of it or (b) required, as part of a university course, to spend a short period studying in another country. iii) University expeditions proposing to carry out scientific research.
The trust also offers the annual Gilchrist Fieldwork Award of £15,000. This competitive award is open to small teams, the leader of which and most of the team, should hold established posts in British university departments or equivalent research establishments, wishing to undertake a field season of over six weeks.
Page 2
GILCHRIST EDUCATIONAL TRUST Trustees' Report (continued) For the year ended 29th February 2024
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performances
Review of Activities
During the year ended 29th February 2024 grants were made to the following:
1) Organisations
Twenty-seven organisations were awarded grants:
£1,172 to: Bright Sparks School India £1 ,171 each to Children at Risk Just Be A Child Livingstone Tanzania Trust Temwa UK Disability Africa Prodigal Bikes Raise Gambia Hands Around the World Compass Children's Charity Globalteer Kanaama Interactive Community Support Feed the Minds Consortium for Street Children Turning Point Trust African Child Trust The Karen Hilltribes Trust African Revival Anthem Music CIC Nicokolo Network Comfort International Mondo Foundation Centre for Development and Community Welfare Project Pencil Case £1,066 to Our Moon Education £1,000 each to Awamu Read for Good
Total value of grants awarded £31,171
2) Individuals
£29,000 was spent on grants to individuals and of these 31 were on Travel Grants and 26 on Adult Study Grants.
Page 3
GILCHRIST EDUCATIONAL TRUST Trustees' Report (continued)
For the year ended 29th February 2024
3) British Expeditions
Applications for Expeditions have been accepted during the year ended 29 February 2024 for consideration by the Trustees at their meeting after the year end. Ten grants were made to the following:
University
£1,000 Newcastle Gepatschferner Glacier, Austria Newcastle Anthropogenic and climatic impacts on Longyearbyen and Longyearbreen, Svalbard Glasgow Marine Thailand, Koh Phangan, Thailand Glasgow Trinidad & Tobago, West Indies Oxford The Mega Expedition Cambridge Okanagan Mapping, Canada Oxford Project Amu Darya, Uzbekistan and Tajikistan Glasgow Remote Scotland, Isle of Harris Glasgow Iceland Expedition, Skalanes Oxford Water Management in a Changing Climate: West Bengal, India
Total value of grants awarded £10,000
Through its grants to organisations the trust has furthered its objective of improving educational standards both abroad and in the United Kingdom.
The trust's grants to individuals have assisted the recipients to complete a degree course, which might otherwise have to be abandoned, or to undertake a brief period of study overseas as part of a degree course.
Grants to expeditions help to meet the costs of teams from this country carrying out research of a scientific nature in various contries overseas, thus adding to the corpus of knowledge about certain scientific subjects.
Financial Review
Financial Position. During the year the Charity's income was £109,065 (2023 £152,336) and expenditure was £104,645 (2023 £89,169) which resulted in a surplus of of £4,420 (2023 £63,167).
Investment Policy. The policy of the Trustees is to obtain a maximum income return and maintain the capital base in real terms. Their aim is to obtain a capital growth of the portfolio that is in line with inflation. The intention is to ensure that any investments that are made attract only a moderate risk as the Trustees do not wish to put the capital of the Trust at an unnecessary disadvantage.
Ethical considerations are as determined by the managers of the common investment funds.
The grant awards are made and paid in each financial year.
The investment policy statement is considered by the Trustees each year.
Policy on reserves. The only funds held in reserve are those required to avoid cash flow problems. It is the aim of the Trustees to distribute in grants all the income received from the Trust's investments, save that required to meet the cost of administration, but achieving this aim is dependent on receiving a sufficient number of worthy applicants.
Page 4
GILCHRIST EDUCATIONAL TRUST Trustees' Report (continued) For the year ended 29th February 2024
Risk Review. The Trustees are mindful of their duty to ensure that the Trust is not inappropriately exposed to avoidable risk of any nature. Their investment policy and each aspect of the Trust's work and administration have been reviewed and risks, both potential and actual, identified. Procedures and safeguards have been put in place to manage these risks.
Unrestricted fund. The balance on the unrestricted fund, which represents the original capital plus any gains or loses on investments held, has decreased by £163,966. The balance on the general fund is £1,987,116 (2023 £2,146,661).
Public Benefit
The charitable purpose of the Trust is the advancement of education. The benefit offered by the Trust is a financial one and is to hep students with expenses whilst studying and to help organisations and expeditions involved in educational projects.
The Trust receives unsolicited applications from a wide range of individuals and organisations and each one is considered on its own merits.
Trustees
The trustees who held office during the year were as follows:
Mr C.E.S. Whitbread, BSc (Hons) Prof S.R. Harrop, LLB Dr J.H. Hemming, CMG, D.Litt. Prof F.L. Pearce, PhD. Mrs S. Winser, BSc
C.E.S. Whitbread
For and on behalf of the trustees Date:
Page 5
Independent examiners report to the trustees of GILCHRIST EDUCATIONAL TRUST For the year ended 29th February 2024
I report to the charity's trustees on my examination of the accounts of the charity for the year ended 29 February 2024.
Responsibilities and basis of report
As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
Page 6
GILCHRIST EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES For the year ended 29th February 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| Notes | 2024 | 2024 | 2023 | |
| £ | £ | £ | ||
| Income and endowments from: | ||||
| Donations and legacies | - | - | 50,000 | |
| Investments | 109,065 | 109,065 | 102,336 | |
| Total income | 109,065 | 109,065 | 152,336 | |
| Expenditure on: | ||||
| Charitable activities - Educational | ||||
| Activities | 3 | 104,645 | 104,645 | 89,169 |
| Total expenditure | 104,645 | 104,645 | 89,169 | |
| Net income before other | ||||
| recognised gains and losses | 4,420 | 4,420 | 63,167 | |
| Net gains on investments | 5 | (163,965) | (163,965) | 43,224 |
| Net movements in funds | (159,545) | (159,545) | 106,391 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 2,146,661 | 2,146,661 | 2,040,270 | |
| Total fund carried forward | 1,987,116 | 1,987,116 | 2,146,661 |
The notes on pages 9 to 15 form part of these accounts.
All of the Trust's activities are classed as continuing.
Page 7
GILCHRIST EDUCATIONAL TRUST BALANCE SHEET For the year ended 29th February 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| fund | Funds | Funds | ||
| 2024 | 2024 | 2023 | ||
| . | Notes | £ | £ | £ |
| Fixed Asset Investments | 5 | 1,804,400 | 1,804,400 | 1,968,365 |
| Current Assets | ||||
| Cash at bank | 189,516 | 189,516 | 185,990 | |
| Creditors: Amounts falling due | ||||
| within one year | 6 | (6,800) | (6,800) | (7,694) |
| Net Current Assets | 182,716 | 182,716 | 178,296 | |
| Net Assets | 1,987,116 | 1,987,116 | 2,146,661 | |
| Funds | 9 | 1,987,116 | 1,987,116 | 2,146,661 |
Approved by the Trustees and signed on their behalf by
C E.S. Whitbread )
Trustees
J.H. Hemming )
Date:
The notes on pages 9 to 15 form part of these accounts.
Page 8
GILCHRIST EDUCATIONAL TRUST Notes to the accounts For the year ended 29th February 2024
1 Background information
The Gilchrist Educational Trust is an unincorporated charity registered under number 313877 with the Charities Commission in England and Wales. It is a public benefit entity. It is domiciled in England and Wales and its principal office is at 43 Fern Road, Storrington, Pulborough, West Sussex RH20 4LW.
The object of the charity is the benefit, advancement and propagation of education and learning in every part of the world and it continues to meet this objective through the making of grants.
2 Accounting Policies
Basis of Accounting
These financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts are prepared under the historical cost convention, except investments which are included at mid-market value, and on the going concern basis.
The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102).
The principal accounting policies which have been adopted in the preparation of the financial statements are set out below:
Financial Instruments - The Charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraph 11.17 to 11.19, FRS102 SORP.
Cash at bank - Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Liabilities - Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measure with reasonable certainly.
Governance and support costs - Support costs have been allocated between support costs and other support. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Investments
The investments are valued annually at mid-market prices.
Realised and unrealised gains and losses are credited or debited to the Statement of Financial Activities in the year in which they arise.
Income
Investment income is recognised on the payable date of the distribution. Bank and other interest is recognised on the date of receipt.
Legacies
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Grants
Grants represent those approved for payment which have been notified to the recipient in the period of the accounts. `
Page 9
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 29th February 2024
| 3 Charitable Activities Educational activities Grants - General Fund To universities for expeditions To organisations (see below) To individuals Adult study grants Travel study grants Gilchrist Fieldwork Award Support costs (Note 4) Other costs (Note 4) Organisations Bright Sparks School India Children at Risk Just Be A Child Livingstone Tanzania Trust Temwa UK Disability Africa Prodigal Bikes Raise Gambia Hands Around the World Compass Children's Charity Globalteer Kanaama Interactive Community Support Feed the Minds Consortium for Street Children Turning Point Trust African Child Trust The Karen Hilltribes Trust African Revival Anthem Music CIC Nicokolo Network Comfort International Mondo Foundation Centre for Development and Community Welfare Project Pencil Case Our Moon Education Awamu Read for Good Total value of grants awarded £31,171 |
2024 £ 10,000 31,171 13,500 15,500 15,000 85,171 15,760 3,714 104,645 £ 1,172 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,171 1,066 1,000 1,000 31,171 |
2023 £ (1,000) 29,400 15,000 13,000 15,000 71,400 13,906 3,863 89,169 £ |
|
|---|---|---|---|
Page 10
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 29th February 2024
| Contd. Organisations Pipal Tree Raising Futures Kenya UK Bangladesh Education Trust Peebes Project UK Ltd AccessEd Latin American Fundatin for the Future Nicodemus Zambia Orphans Aid UK Books Abroad Kids Club Kampala MySchoolPulse The Sparkle Foundation Out of Afrika Our Sansar Child of Hope Christian Faith Ministries EduSpots The Book Bus Foundation Prospect Burma World Child Cancer ASecondChance Acorn Initiatives Friends of Monze Carers Worldwide The Uganda School Project Young Carers' Development Trust Green Schools Project TCE Enterprises Ltd (La Fundacion Funtravide) Nuestros Pequenos Hemanos UK Care Across Communities Total value of grants awarded £30,000 Hale Community Centre cancelled |
2024 £ £ |
2023 £ £ 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 30,000 (600) 29,400 |
|---|---|---|
Page 11
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 29th February 2024
| 4 Administration Secretary's fees Grants Officer Governance costs Printing, postage & stationery Travelling expenses Sundry expenses Administration of Gilchrist Fieldwork Award Bank charges Insurance |
Support Costs £ 8545 5052 - 17 - 389 1490 - 267 15,760 |
Other Costs £ 2136 - 1200 - 226 25 - 60 67 3,714 |
Support 2024 Costs £ £ 10,681 7,423 5,052 4,390 1,200 - 17 9 226 - 414 330 1,490 1,500 60 - 334 254 19,474 13,906 |
Other Costs 2023 £ £ 1,856 9,279 - 4,390 1,800 1,800 - 9 43 - 25 355 - 1,500 75 75 64 318 3,863 17,726 |
|---|---|---|---|---|
The trust employed one person during the year (2023: one).
There are no employees who received total employee benefits (excluding employers pension costs) of more than £60,000.
There are no National Insurance costs or pension contributions incurred.
Support costs have been allocated on the basis that the costs represent the direct costs of administration of the grants provided to the recipients.
The Independent examiner's fees of £1,200 (2023: £1,800) are included in governance costs.
5 Fixed Asset Investments
Quoted Investments on a Recognised UK Stock Exchange
Charifund income units - M&G Equities Investment for Charities Charity Multi Asset Fund - M&G Charity Multi Asset Fund (Equities and Bonds)
Page 12
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 29th February 2024
5 Fixed Asset Investments (continued)
| General Fund Market value at 1st March 2023 Transfers Unrealised gains/(losses) Market value at 29th February 2024 6 Creditors: Amounts Falling Due Within One Year Sundry creditors: Accruals for grants payable Accruals Trade creditors Taxation and social security Unit number 108,001.89 / 332,833.805 108,001.89 / 0 / 332,883.81 |
Charifund Multi Asset Income Units Income Units Total £ £ £ 1,665,486 302,879 1,968,365 - - (153,481) (10,484) (163,965) 1,512,005 292,395 1,804,400 2024 2023 £ £ 1,500 2,500 3,110 3,653 2,082 1,485 108 56 6,800 7,694 |
Charifund Multi Asset Income Units Income Units Total £ £ £ 1,665,486 302,879 1,968,365 - - (153,481) (10,484) (163,965) 1,512,005 292,395 1,804,400 2024 2023 £ £ 1,500 2,500 3,110 3,653 2,082 1,485 108 56 6,800 7,694 |
Charifund Multi Asset Income Units Income Units Total £ £ £ 1,665,486 302,879 1,968,365 - - (153,481) (10,484) (163,965) 1,512,005 292,395 1,804,400 2024 2023 £ £ 1,500 2,500 3,110 3,653 2,082 1,485 108 56 6,800 7,694 |
Charifund Multi Asset Income Units Income Units Total £ £ £ 1,665,486 302,879 1,968,365 - - (153,481) (10,484) (163,965) 1,512,005 292,395 1,804,400 2024 2023 £ £ 1,500 2,500 3,110 3,653 2,082 1,485 108 56 6,800 7,694 |
|---|---|---|---|---|
| £ 1,665,486 - (153,481) 1,512,005 2024 £ 1,500 3,110 2,082 108 6,800 |
||||
| 1,804,400 | ||||
7 Award Commitment
The trust also offers the Gilchrist Fieldwork Award of £15,000 (formerly known as Gilchrist £10,000 Expedition Award). This competitive award is offered annually and is open to small teams of qualified academics and researchers in established posts in university departments or research establishments, most of British nationality, wishing to undertake a a field season of over six weeks.
The Award was made in 2023 to Dr Callum Monday of the University of Oxford, School of Geography and .the Environment.
8 Related Party Transactions
Two of the trustees was reimbursed the following amount in respect of travelling expenses incurred in conncection with the Trust:
| Professor Pearce | £38 | (2023: £43 | expenses reimbursed) |
|---|---|---|---|
| Professor Harrop | £67 |
There are no other related party transactions requiring disclosure during the year.
9 Unrestricted Funds
The general fund represents free funds of the Trust which are not designated for particular purposes.
Page 13
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 29th February 2024
| Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
|---|---|---|---|---|---|---|---|---|
| Details of material funds held and movements during theprevious reporting period | ||||||||
| Fund | Fund | |||||||
| balances | balances | |||||||
| Unrestricted | brought | Purchases | Gains / | carried | ||||
| or restricted | forward | (Disposals) | Income | Expenditure | Transfers | (Loss) | forward | |
| Fund names | £ | £ | £ | £ | £ | £ | £ | |
| Charifund | Unrestricted | 1,665,486 | (153,481) | 1,512,005 | ||||
| Multi Assett Fund | Unrestricted | 302,879 | - | (10,484) | 292,395 | |||
| General | Unrestricted | 178,296 | 109,065 | (104,645) | - | 182,716 | ||
| Total | Unrestricted | 2,146,661 | - | 109,065 | (104,645) | - | (163,965) | 1,987,116 |
| Total Funds as per balance sheet | 2,146,661 | - | 109,065 | (104,645) | - | (163,965) | 1,987,116 |
Page 14
GILCHRIST EDUCATIONAL TRUST Notes to the accounts (continued) For the year ended 28th February 2023
| Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
Note 9(continued) Charity Funds |
|---|---|---|---|---|---|---|---|---|
| Details of material funds held and movements during theprevious reporting period | ||||||||
| Fund | Fund | |||||||
| balances | balances | |||||||
| Unrestricted | brought | Purchases | Gains / | carried | ||||
| or restricted | forward | (Disposals) | Income | Expenditure | Transfers | (Loss) | forward | |
| Fund names | £ | £ | £ | £ | £ | £ | £ | |
| Charifund | Unrestricted | 1,631,099 | 34,388 | 1,665,487 | ||||
| Charibond | Unrestricted | 46,153 | (45,834) | (319) | - | |||
| Multi Asset Fund | Unrestricted | 247,889 | 45,834 | 9,155 | 302,878 | |||
| General | Unrestricted | 115,129 | 152,336 | (89,169) | 178,296 | |||
| Total | Unrestricted | 2,040,270 | - | 152,336 | (89,169) | - | 43,224 | 2,146,661 |
| Total Funds as per balance sheet | 2,040,270 | - | 152,336 (89,169) |
- | 43,224 2,146,661 |
Page 15