Charity registration number SC006366 (Scotland)
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number (Scotland) SC006366 Principal address The Castle Stirling United Kingdom FK8 1EH
Independent examiner
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 13 |
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
TRUSTEES' REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025
The trustees present their annual report and financial statements for the year ended 28 February 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) "(second edition - October 2019) (effective 1 January 2019).
Objectives and activities
The Association was established for such purposes as are from time to time regarded as charitable within the meaning of Section 505 of the Income and Corporation Taxes Act 1988.
The objectives of the Association are as follows:
-
To foster a feeling of espirit de corps amongst all ranks, past and present, and to maintain friendships forged during service with the Regiment, and to this end branches shall receive an Annual Grant from the Regimental Association.
-
To promote the welfare of its members, and particularly to help the men while serving to prepare for civil life.
-
To assist Serving Members on discharge or transfer to the Army Reserve to obtain employment.
-
To aid men when on travel in search of employment by paying their travel expenses and lodgings.
-
To give financial assistance or gifts in kind to its members, or widows or children of members where circumstances necessitate.
Achievements and performance
All branches continued to provide coordinated events to raise funds for MOD Charities, such as the Royal British Legion, Poppy Scotland and SSAFA. We also organised several social events for our members and family members to continue to encourage Esprit De Corps for all and we held and attended a number of Memorial events (including our Annual Raising of the Regiment Day in February and the Balaklava event in October). We also funded a Battlefield Tour in July 2024 to the Flanders area and the Normandy Beaches, and swe routinely maintain contact with our Association member on social media, ensuring that they felt appreciated and supported.
Financial review
The charity's primary source of income is from our investments and small donations, which are subject to fluctuations and may not always meet the charity's expenditure.
The charity has a deficit of £70,804 (2024: £38,243), before accounting for the investment gain of £31,515 (2024: loss of £58,371).
The charity does experience the occasional shortfall, however, we have taken steps to reduce our Annual expenditure by ceasing all overseas battlefield Tours and the associated Insurance costs and maintaining the Annual Grants to our Branches at £1,000. The salary of the Secretary/Treasurer has, with his agreement, also reduced from £21k to £12K per annum effective from the 1st of September 2025 and we continue to review all expenditures as an ongoing task, in order to extend the longevity of the Association Fund.
Reserves policy
The Executive Committee agree that there is a requirement for a reserves policy which should be reviewed quarterly to ensure the reserve funds are maintained at the correct level to allow the Association to continue and are used for the requirements identified by the Committee. In this financial year the need to hold reserve funds have been identified in line with the Association's business model and the Executive Committee is satisfied that the level of reserves is adequate. The general reserves at the year end were £1,707,927. (2024: £1,747,216)
Policy for donations
The Committee convene bi-annually to discuss donations for the forthcoming year and donations made are in accordance with the instructions expressed in the constitution of the Association. The Secretary of the Committee has imposed a financial limit of £350 for grants to individuals which can be increased to £1,000 but only when the criteria set by the Executive Committee have been complied with.
- 1 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details are given in the accounting policy 1.2.
Investment policy and performance
The Committee have instructed Rathbones to manage the Association funds on a discretionary basis but to apply caution in line with the current constraints as a result of the economic climate. The Committee have advised that they are prepared to accept a medium level of risk but seek both capital and income growth.
Risk management
The Committee have considered the risks to which the Association is exposed. The committee are responsible for the identification of and the management of risk. The risks identified are discussed annually by the Executive members and action is agreed to mitigate evident risks. A risk assessment review was carried out in 2015 and it was agreed that the cost of the clerical and technical support provided to the Association, would be shared with the Regimental Museum, in addition, the Investment Manager has been instructed to invest at medium risk whilst maintaining increased value in stock holdings and realising income to enable us to continue with Benevolence work.
Benevolence awards continue to be limited as follows: Standard awards have an upper limit of £350. Awards of up to £1,000 require the Association Chairman’s approval. All requests for grants are considered and only awarded in compliance with the rules of the Executive Committee and in line with the constitution of the Charity.
Due to staffing changes within the organisation and structural changes within the Ministry of Defence, it has been necessary to employ a Secretary/Treasurer, assisted by an Admin Officer, based in the Stirling Castle offices on a part-time basis to maintain the structure, governance and management on behalf of the Executive Committee and in compliance of the contract issued to this post.
Plans for future periods
The Committee are mindful of the purposes for which the Association was set up and plan for the Association to continue to make donations to those members in need as a priority over all else, with an annual meeting of the Committee to be arranged to discuss donations and review donations to other Service charities and the degree to which the Association continues to support these Service charities. The Association Constitution is in the process of being rewritten and will reflect the planned disbursement of the Association Funds upon the eventual demise of this Association, in accordance with OSCR direction.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Membership
Ordinary Members of the Association consist of the following:
(a) Commissioned Officers, Warrant Officers, Non-commissioned Officers or men who have had Regular Service in the Regiment.
(b) Territorial Army Officers or men who have had a minimum of three years' service in the Regiment.
(c) Army Cadet Officers and Adult Cadet Instructors who have had a minimum of three years Adult Service in the Regiment.
Honorary Members, consisting of any person or persons with an interest in the well-being of the Regiment or have rendered it a service, may only be appointed by the Committee.
- 2 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY2025 Recrultment and appolntment of trustees Trust8•s ar& nomially th8 Pr•sid•nts or Chairmen of the various Branch89 of the Association. Each branch •l•cts Chairman andlor a Prasid•nt and thair appointmant is tharaaftar confirmad by our èxacutiva Commrttaa and thèy than sèrvè as a Trustèè for thè duration of t1r appointmènt Iwhith is r8viaw•d èach yèar at thè Amual Gènaral M¢$lingl. Trustees The truslees'.itho seNed durin the, ear and up lo the date of signature of the financial 8tat8m8nls wor8.. IRe8ignod 14 March 2025) IRe$ignod 18 0¢tor 2024) IAppoint¢d 17 May 20241 IAppoint8d 7 Septambw 20251 IAppoinl8d 10 April 20251 IAppoint¢d 23 May 20251 (Appointed 17 May 20241 Remuneratlon pollcy We hava a romuneration policy for our executive members who $8rv8 as charity Irusleas and attand Association Exècutivè Meatings and our annual AGM. Our policy is basèd on thè principles of fairn8SS, tronsparancy, and •¢¢ounl•bility. Wo aim to provide romunoralion that r¢flo¢1s th& skills, ¥xp&rion¢•, and wspon$ibilitio$ of our exoculivo members, as 11 as the financial situation of our charty. W• r•vi•w our r•mun•ration policy annually and di$clog• it in our trust•• r•rt. statement of trustees. responslbllltles Tho trusto8s aro responsibl8 for preparing tho Trusloos, R8POrt and tho financial stal8m8nts in accordance with applicabl• law and Unrt•d Kingdom Accounting Standards IUnit•d Kingdom G•n•ralty Accapt•d Accounting Pr•¢ti¢o1. y the Board of Trustws. Trustee
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION I roport on thè financial statamonts of thè charity for tha yaar èndèd 28 Fobruary 2025, which arè sèt out on pages 5 to 13. Respectlve responslbllltles of trustees and examlner The charity'5 Iruslees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments Iscollandl Act 2005 and the CharilEs Accounts Iscollandl Regulations 2006 las amended). The charity's trustees consider that the audit ruIrement of Regulation 1011 Ila) lo Icl of th• 2006 Accounts Rogulations do8s not apply. It is my rèsponsibilty to examin• thè financial statèmènts as raquir•d undar section 4411 Ilcl of thè Act and to stata whathar particular matters hava com8 to my attèntion. Basls of Independent examlnefs statement My examination is carried out in accordance with R•gulalion 11 of tho Charitio$ Accounts (Scollandl R•gulation$ 2006. An examinots'on includes a review of the accounting record5 kept by the charity and a comparison of the financial stal8menls Presented with Ihoso rocords. 11 also includes consideration of any unusual Itn3 or disclosurès in th8 financial stalem8nts, and Seeking explanations from th8 Irust88s conc8ming any such mattarn. Th8 procadur88 und8rtak8n do not provide all tha 8vid8nca that would bè raquir•d in an audit and cons•qu•ntly I do not èxprèss an audit opini¢x on thg vièw givèn by th• financial statèmènts. Independent examlnefs statement In connection with my examination, no olhor matt•r oxe¢pt that rOrd to in th¢ proviou$ paragraph has com• to my attontion.. lal which gives me r•ason&ble cause lo lieVe that in any material rosp¢ct the mquirements: lil to kéèp accounting racords in accordancè with saction 44111 lal of th• 2005 Act and R¥gul•lfv)n 4 of the 2006 A¢¢ounts R¥gulalion$', and lill to prepare financial slatamants which accord with tha accounting racords and comply wlh Regulation 8 of thè 2006 Accounts R•gul•tion$', hav8 not been m81 or Ibl to which. in my opinion, •tt•ntion $h¢uld b• drawn in ord•r lo •nabl• • prop•r und•rslanding of I financial statements to bo reached. Dated..
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 1,563 | 2,929 |
| Investments | 4 | 50,395 | 60,765 |
| Total income | 51,958 | 63,694 | |
| Expenditure on: | |||
| Raising funds | 5 | 12,495 | 12,497 |
| Charitable activities | 6 | 110,267 | 89,440 |
| Total expenditure | 122,762 | 101,937 | |
| Net gains/(losses) on investments | 9 | 31,515 | (58,371) |
| Net expenditure and movement in funds | (39,289) | (96,614) | |
| Reconciliation of funds: | |||
| Fund balances at 29 February 2024 | 1,747,216 | 1,843,830 | |
| Fund balances at 28 February 2025 | 1,707,927 | 1,747,216 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION BALANCE SHEET ASAT28 FEBRUARY2025 2025 2024 Notes Flxed assets Invastmants 13 1.679.748 1,725,506 Current assets Cash at bank and in hand 32,592 23,100 eredltors: amounts falllng due wlthln one year 14 14,4131 11.3901 Net current assets 28.179 21,710 Total assets less current Ilabllltles 1.707.927 1,747.216 The lund$ of the chaNty Unr8slrict8d funds 16 1.707.927 1,747.218 1,707,927 1,747,216 y lh• tr(*$tl on ...I.1..1.1.il.¥.-"zS Tru•t
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025
1 Accounting policies
Charity information
Argyll & Sutherland Highlanders Regimental Association is a unincorporated association. The organisation is a registered charity (SC006366).
1.1 Basis of preparation
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (second edition - October 2019) (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have reviewed the future funding and activities of the charity. The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Donations and similar income
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Investment income, rental income and similar income
Income from investments and from rental income and similar sources is included in the Statement of Financial Activities in the year in which it is receivable.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.5 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.
- 7 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
1 Accounting policies
(Continued)
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities, the charity is not registered for VAT and accordingly expenditure is shown gross.
Costs of raising funds are costs incurred in attracting voluntary income, and those incurred in activities that raise funds. Costs of raising funds are costs incurred for the management of the investment portfolio.
Charitable activities are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to 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.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
1.6 Fixed asset investments
Fixed Asset Investments are held at market value. Gains/losses are credited/charged to the statement of financial activities.
1.7 Taxation
The charity is exempt from taxation on its ordinary activities.
1.8 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations and gifts | 1,563 | 2,929 |
- 8 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
4 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Dividends received | 48,945 | 59,995 | |
| Interest received | 1,450 | 770 | |
| 50,395 | 60,765 | ||
| 5 | Expenditure on raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Investment management | 12,495 | 12,497 | |
| 6 | Expenditure on charitable activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Insurance | 767 | 1,505 | |
| Office costs | - | 219 | |
| Sundries | 20 | - | |
| Flowers and wreaths | 34 | 226 | |
| Memorial events | - | 566 | |
| Executive meeting expenses | - | 186 | |
| 821 | 2,702 | ||
| Grant funding of activities (see note 7) | 65,089 | 45,024 | |
| Share of support and governance costs (see note 8) | |||
| Governance | 44,357 | 41,714 | |
| 110,267 | 89,440 | ||
| Analysis by fund | |||
| Unrestricted funds | 110,267 | 89,440 |
- 9 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
| 7 Grants payable Grants to institutions: Balaklava Pipes and Drums Midlands Branch London South East Branch Greenock Branch ASH Museum Dunoon and Cowal Branch Grangemouth Branch Stirling Branch West of Scotland Branch Inverclyde Branch Other Grants to individuals 8 Support costs allocated to activities Governance costs Analysed between: Charitable activities Governance costs comprise: Staff costs Trustee expenses Accountancy |
2025 £ 1,000 1,050 1,831 1,500 1,200 1,000 12,000 6,192 8,361 1,500 - 35,634 29,455 65,089 2025 £ 44,357 44,357 2025 £ 39,816 1,575 2,966 44,357 |
2024 £ 1,000 1,000 1,000 2,300 2,000 1,000 7,008 3,500 3,800 1,000 - |
|---|---|---|
| 23,608 21,416 |
||
| 45,024 | ||
| 2024 £ 41,714 |
||
| 41,714 | ||
| 2024 £ 36,965 2,042 2,707 |
||
| 41,714 |
- 10 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
9 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | (68,970) | (141,259) |
| Sale of investments | 100,485 | 82,888 |
| 31,515 | (58,371) |
10 Trustees
The trustee remuneration for the period was £21,220 (2024: £21,965). 3 trustees were reimbursed a total of £1,575 of accommodation/travelling expenses (2024: 9 were reimbursed £2,042).
11 Employees
| Employment costs Wages and salaries Social security costs Other pension costs |
2025 £ 37,804 1,606 406 39,816 |
2024 £ 36,000 965 - |
|---|---|---|
| 36,965 |
The payroll is maintained through The Argyll and Sutherland Highlanders Museum Trust. The expense (including social security) shall be met by the charity. The average employees for the period was 1 (2024: 1).
The charity considers its key management personnel to comprise of the trustees. The employment benefits of the key management personnel is disclosed in the trustees note. No employees had employee benefits in excess of £60,000 (2024: none).
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 11 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
13 Fixed asset investments
| Listed investments Unlisted investments £ £ Cost or valuation At 29 February 2024 1,665,519 59,987 Additions 493,203 68,629 Valuation changes (64,881) (4,089) Other (163) - Disposals (481,256) (57,201) At 28 February 2025 1,612,422 67,326 Carrying amount At 28 February 2025 1,612,422 67,326 At 28 February 2024 1,665,519 59,987 |
Total £ 1,725,506 561,832 (68,970) (163) (538,457) |
|---|---|
| 1,679,748 | |
| 1,679,748 | |
| 1,725,506 |
Fixed asset investments revalued
The investments are held at revalued amounts, this valuation is provided by Rathbone Investment Management annually. Prices for quoted securities are mid-market closing prices provided by the London Stock Exchange (or any other equivalent investment exchanges where relevant). Unit trusts and collective investments show mid-market prices at the last valuation point prior to the period end. Prices for unquoted and liquid securities have been obtained from independent sources. Where the valuer has been unable to obtain a fair market price or there is no market, fair or otherwise, a nominal price of £0.0001 has been used. The cost of the investments at the year end is £1,508,201 (2024: £1,484,476).
14 Creditors: amounts falling due within one year
| Other creditors 15 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2025 £ 4,413 2025 £ 406 |
2024 £ 1,390 |
|---|---|---|
| 2024 £ - |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 12 -
ARGYLL & SUTHERLAND HIGHLANDERS REGIMENTAL ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2025
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 29 | Incoming | Resources | Gains and | At 28 | ||
|---|---|---|---|---|---|---|
| February 2024 | resources | expended | losses | February 2025 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 1,747,216 | 51,958 | (122,762) | 31,515 | 1,707,927 | |
| Previous year: | At 28 | Incoming | Resources | Gains and | At 28 | |
| February 2023 | resources | expended | losses | February 2024 | ||
| £ | £ | £ | £ | £ | ||
| General fund | 1,843,830 | 63,694 | (101,937) | (58,371) | 1,747,216 |
17 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
- 13 -