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2024-03-31-accounts

Charity registration number: 108117

Mark Lynn CHD Foundation

Annual Report and Financial Statements

for the Year Ended 31 March 2024

Mark Lynn CHD Foundation

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2 to 3
Statement of Trustees' Responsibilities 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 15

Mark Lynn CHD Foundation

Reference and Administrative Details

Chief Executive Officer Mrs Donna Lynn Trustees Mrs Donna Lynn Ms Pamela Dawson Ms Pauline Ward Senior Management / Leadership Mrs Donna Lynn Team Charity Registration Number 108117 Principal Office 1 Kintyre Park Ballykeel 1 Ballymena Co Antrim BT42 4AL Independent Examiner J A Mc Clements & Co Accountant

Page 1

Mark Lynn CHD Foundation

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2024.

Objectives and activities

Objects and aims

Mark Lynn CHD Foundation has provided food vouchers towards nutrition and wellbeing, essential supplies to hosipital wards, tiletries, blankets, nappies etc during Covid 19, outdoor and indoor activities for children, such as sand pits, bikes and trampolines have all been purchased.

We hold a quiet Christmas, where children with chronic illnesses come and spend much needed time with santa, gifts and treats supplied.

Food vouchers and gifts are supplied to families.

The objects of Mark Lynn CHD Foundation is to raise vital donations to help chronically ill children, particularly those with life-threating illness, across Northern Ireland. To help them acquire and use specialist equipment that can't be purchased on the NHS To physically support them with funds while in hospital or travelling to another hospital. To help them as much as possible throughout their short life and throughout their illness.

To show their families and siblings 100% dedication by always being there throughout the cild's illness and show 100% support even after the child has passed away.

Public benefit

the direct benefit from the Mark Lynn CHD Foundation include providing help and equipment for each child's needs at home or while in hospital, help will be provided to assist parents with children living with chronic illnesses, Much needed support and Care.

to help with social needs and costs arising from caring for a child with chronic illnesses. Mark Lynn CHD foundation covers every chronic medical term accross Northern Ireland, in this ever changing World there has become so much more life threating illnesses in children,

Mark Lynn CHD Foundation will thrive in its aim to help so many families living with children born with chronic illnesses, the community and far afieldfundraising work hard to support Mark Lyn CHD foundation assist see the benefits of what the foundation does.

These benefits can be evidenced by feedback from parents, careers and other medical professions with the child's interest.The benefits can also be demostrated through

Mark Lynn CHD Foundation causes no harm to children or parents

The beneficiaries are children in need with long term chronic illnesses, and families with children with long term chronic illnesses in need of help financially, hardship or any other ill related disadvantage

The private benefit to a trustee may arise from our ongoing direct support to chronic ill children. Our own trustees receive informstion in the same way other beneficiaries and are assigned to support and/or apply for grant aids the same as other beneficiaries. These benefits are incidental and necessary to ensure the benefit is provided to all our beneficiaries.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Structure, governance and management

Nature of governing document

Constitution

Page 2

Mark Lynn CHD Foundation

Trustees' Report (continued)

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Cash flow risk

The charity’s activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures.

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 11 January 2025 and signed on its behalf by:

......................................... Mrs Donna Lynn Chief executive officer and trustee

......................................... Ms Pamela Dawson Trustee

......................................... Ms Pauline Ward Trustee

Page 3

Mark Lynn CHD Foundation

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities 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:

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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on 11 January 2025 and signed on its behalf by:

......................................... Mrs Donna Lynn Chief executive officer and trustee

......................................... Ms Pamela Dawson Trustee

......................................... Ms Pauline Ward Trustee

Page 4

Mark Lynn CHD Foundation

Independent Examiner's Report to the trustees of Mark Lynn CHD Foundation

I report to the trustees on my examination of the accounts of Mark Lynn CHD Foundation for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of Mark Lynn CHD Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Mark Lynn CHD Foundation's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of 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:

  1. accounting records were not kept in respect of Mark Lynn CHD Foundation as required by section 130 of the Act; or

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

  3. the accounts do not comply with the accounting 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.

...................................... J A Mc Clements & Co Accountant Assocciation of Certified Public Accountants

11 January 2025

Page 5

Mark Lynn CHD Foundation

Statement of Financial Activities for the Year Ended 31 March 2024

Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Note
Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Other expenditure
5
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12
Unrestricted
funds
£
31,028
31,028
(1,234)
(10,298)
(11,532)
19,496
19,496
15,103
34,599
Unrestricted
funds
£
11,146
11,146
(937)
(5,110)
(3)
(6,050)
5,096
5,096
10,007
15,103
Total
2024
£
31,028
31,028
(1,234)
(10,298)
(11,532)
19,496
19,496
15,103
34,599
Total
2023
£
11,146
11,146
(937)
(5,110)
(3)
(6,050)
5,096
5,096
10,007
15,103

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 12.

The notes on pages 8 to 15 form an integral part of these financial statements. Page 6

Mark Lynn CHD Foundation

(Registration number: 108117) Balance Sheet as at 31 March 2024

Note
Fixed assets
Tangible assets
9
Current assets
Cash at bank and in hand
10
Creditors: Amounts falling due within one year
11
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
12
2024
£
292
34,586
(279)
34,307
34,599
34,599
34,599
2023
£
-
15,103
-
15,103
15,103
15,103
15,103

The financial statements on pages 6 to 15 were approved by the trustees, and authorised for issue on 11 January 2025 and signed on their behalf by:

......................................... Mrs Donna Lynn Chief executive officer and trustee

......................................... Ms Pamela Dawson Trustee

......................................... Ms Pauline Ward Trustee

The notes on pages 8 to 15 form an integral part of these financial statements. Page 7

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Accounting policies

Statement of compliance

The 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 UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Mark Lynn CHD Foundation meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Page 8

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Page 9

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 10

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Debt instruments

Debt instruments which meet the following conditions are subsequently measured at amortised cost using the effective interest method:

(a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate.

(b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged.

(c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a).

(d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods.

(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law.

(f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c).

Debt instruments that are classified as payable or receivable within one year on initial recognition and which meet the above conditions are measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss.

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Page 11

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Derivative financial instruments

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Total for 2024
Total for 2023
Unrestricted
funds
General
£
2,400
2,400
3,692
Total
funds
£
2,400
2,400
3,692

3 Expenditure on raising funds

a) Costs of generating donations and legacies

Note
Donations
Total for 2024
Total for 2023
Unrestricted
funds
General
£
274
274
311
Total
funds
£
274
274
311

Page 12

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

b) Other costs of generating donations and legacies

4
Expenditure on charitable activities
5
Other expenditure
Note
Total for 2024
Total for 2023
6
Net incoming/outgoing resources
Net incoming resources for the year include:
Note
Note
Unrestricted
funds
General
£
-
3
Total
funds
£
Total
costs
£
Total
funds
£
Total
expenditure
£
Total
funds
£
-
3
2024
£

7 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Page 13

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

8 Taxation

The charity is a registered charity and is therefore exempt from taxation.

9 Tangible fixed assets

Cost
Additions
At 31 March 2024
Depreciation
At 31 March 2024
Net book value
At 31 March 2024
10 Cash and cash equivalents
Cash on hand
Short-term deposits
11 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Furniture and
equipment
£
292
292
-
292
2024
£
9,944
24,642
34,586
Furniture and
equipment
£
292
292
-
292
2024
£
9,944
24,642
34,586
Total
£
292
292
-
292
2023
£
1,106
13,997
292
-
292
2024
£
9,944
24,642
34,586
15,103
2024
£
278
1
279

12 Funds

Unrestricted funds
General
Balance at 1
April 2023
£
15,103
Incoming
resources
£
30,754
Resources
expended
£
(11,258)
Balance at 31
March 2024
£
34,599

Page 14

Mark Lynn CHD Foundation

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

Unrestricted funds
General
Balance at 1
April 2022
£
10,007
Incoming
resources
£
10,857
Resources
expended
£
(5,761)
Balance at 31
March 2023
£
15,103

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Current assets
14 Analysis of net funds
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt
Unrestricted
funds
General
£
292
34,586
(279)
34,599
Unrestricted
funds
General
£
15,103
At 1 April
2023
£
15,103
15,103
At 1 April
2022
£
10,007
10,007
Total funds at
31 March
2024
£
292
34,586
(279)
34,599
Total funds at
31 March
2023
£
15,103
At 31 March
2024
£
15,103
15,103
At 31 March
2023
£
10,007
10,007

15 Related party transactions

Page 15

Mark Lynn CHD Foundation

Statement of Financial Activities by fund for the Year Ended 31 March 2024

Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Raising funds
Charitable activities
Other expenditure
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
Unrestricted
Funds
2024
£
31,028
31,028
(1,234)
(10,298)
-
(11,532)
19,496
19,496
15,103
34,599
Total
Unrestricted
Funds
2023
£
11,146
11,146
(937)
(5,110)
(3)
(6,050)
5,096
5,096
10,007
15,103

This page does not form part of the statutory financial statements. Page 16

Mark Lynn CHD Foundation

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Income and Endowments from:
Donations and legacies (analysed below)
Total income
Expenditure on:
Raising funds (analysed below)
Charitable activities (analysed below)
Other expenditure (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Total
2024
£
31,028
31,028
(1,234)
(10,298)
-
(11,532)
19,496
19,496
15,103
34,599
Total
2023
£
11,146
11,146
(937)
(5,110)
(3)
(6,050)
5,096
5,096
10,007
15,103

This page does not form part of the statutory financial statements. Page 17

Mark Lynn CHD Foundation

Detailed Statement of Financial Activities for the Year Ended 31 March 2024 (continued)

Donations and legacies
Appeals and donations
Fun Raising
Sponsorship
Football Sponsorship
Football Sponsorship
Darts Sponsorship
Sponsored Walk
Raffle Inome
Raising funds
Fundraising costs
Fundraising Cost - Football Sponsorship
Fundraising costs -Football
Fundraising Costs - Gala Ball
Publicity costs
Family Support - Halloween Party
Charitable activities
Family Support Provisions
Family support - Shopping Vouchers
Family support - Xmas for Families
Family Support -DayTrip
Family Support - Kids Support
Fun in the Sun- BBQ
happy Faces
Happy Faces - Easter Party
Happy Faces -Toys
Happy Faces - Hire of Hall
Buddy Day
Tee Shirts
Printing, postage and stationery
Other expenditure
Bank charges
Total
2024
£
2,400
24,758
-
2,230
-
1,440
-
200
31,028
(274)
(593)
(17)
-
-
(350)
(1,234)
(3,329)
(2,580)
(404)
(300)
(327)
(1,832)
(17)
(330)
-
(285)
(546)
(139)
(209)
(10,298)
-
-
Total
2023
£
2,422
4,709
1,400
-
1,200
310
960
145
11,146
(289)
(251)
(80)
(45)
(22)
(250)
(937)
(500)
-
(2,338)
(220)
-
(110)
-
(136)
(1,294)
(338)
-
(174)
-
(5,110)
(3)
(3)

This page does not form part of the statutory financial statements. Page 18