REGISTERED NUMBER: SC260327 (Scotland)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

ARCHERFIELD & FIDRA GOLF COURSES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

8

Balance Sheet

9

Notes to the Financial Statements

10

DIRECTORS:

R G Arnott

K M Doyle

J M Glen

G I Russell

T A K Younger

REGISTERED OFFICE:

46 Charlotte Square

Edinburgh

EH2 4HQ

REGISTERED NUMBER:

SC260327 (Scotland)

AUDITORS:

S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

The directors present their strategic report for the year ended 31 October 2025.

REVIEW OF BUSINESS

Revenue from continuing operations, has increased from £6.8m in the prior year to £7.4m in the current year.

Margins in relation to continuing operations have increased from 41.0% in the prior year to 42.6% in the current year. Overall, profit before tax has increased from £68,037 in the prior year to £453,590 in the current year. The directors are satisfied with the results for the year.

PRINCIPAL RISKS AND UNCERTAINTIES

The company does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit risk and cash flow associated with selling on credit and manages this through credit control procedures. The group is also exposed to interest rate risk on the cost of its borrowing.

GOING CONCERN

The company has made a profit of £331,265 (2024 - £42,980) in the current financial year and has net assets of £757,662 (2024 - £426,397). The ability of the company to continue as a going concern is dependent on the ability of the company to secure memberships and sales.

Therefore, as there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, the directors have concluded this does not represent a material uncertainty with regards to going concern.

Thus, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

FINANCIAL KEY PERFORMANCE INDICATORS

The key financial and operational performance indicators monitored by management, on both an individual unit by unit basis and on a divisional basis, include weekly revenue levels, gross profit margins and wage costs as a percentage of turnover.

ON BEHALF OF THE BOARD:

G I Russell - Director

16 July 2026

The directors present their report with the financial statements of the company for the year ended 31 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of operating a golf club.

DIVIDENDS

No dividends will be distributed for the year ended 31 October 2025.

FUTURE DEVELOPMENTS

The directors' immediate objectives are focused around growing the company's membership base and managing the company's operations.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 November 2024 to the date of this report.

R G Arnott

K M Doyle

J M Glen

G I Russell

T A K Younger

EMPLOYEE INVOLVEMENT

The company provides an open basis for communication which provides employees systematically with information on matters of concern to them as employees, consults employees or their representatives on a regular basis so that the views of the employees can be taken into account in making decisions which are likely to affect their interests, encourages the involvement of employees in the company's performance, and achieves a common awareness on the part of all employees of the financial and economic factors affecting the performance of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	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 company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

G I Russell - Director

16 July 2026

Opinion

We have audited the financial statements of Archerfield & Fidra Golf Courses Limited (the 'company') for the year ended 31 October 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation, employment and data protection;

- We assessed the extent of compliance with the laws and regulations identified above through making enquires of management and inspecting legal correspondence;

- Identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assess the susceptibility of material misstatement within the Company's financial statements, including obtaining an understanding of how fraud might occur by:

- Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgement and assumptions made in determining accounting estimates were indicative of potential bias; and

- Investigated the rationale behind any significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- Agreeing financial statement disclosures to underlying supporting documentation;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual potential litigation and claims; and

- Reviewing correspondence.

Whilst our audit did not identify any significant matters relating to the detection of irregularities including fraud, and despite the audit being planned and conducted in accordance with ISAs (UK), there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity would likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Craig Hunter (Senior Statutory Auditor)

for and on behalf of S&W Audit

Statutory Auditor

Chartered Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

16 July 2026

TURNOVER

4

7,375,729

6,756,525

Cost of sales

(4,233,272

)

(3,988,591

)

GROSS PROFIT

3,142,457

2,767,934

Administrative expenses

(2,685,445

)

(2,746,210

)

457,012

21,724

Other operating income

5

-

46,313

OPERATING PROFIT

457,012

68,037

Interest payable and similar expenses

8

(3,422

)

-

PROFIT BEFORE TAXATION

9

453,590

68,037

Tax on profit

10

(122,325

)

(25,057

)

PROFIT FOR THE FINANCIAL YEAR

331,265

42,980

Retained earnings at beginning of year

426,396

383,416

RETAINED EARNINGS AT END OF YEAR

757,661

426,396

FIXED ASSETS

Tangible assets

11

865,125

885,267

CURRENT ASSETS

Stocks

12

243,522

281,791

Debtors: amounts falling due within one year

13

1,131,203

1,006,847

Debtors: amounts falling due after more than one year

13

16,897,963

15,743,175

Cash at bank and in hand

2,685,889

3,563,253

20,958,577

20,595,066

CREDITORS

Amounts falling due within one year

14

(5,569,340

)

(5,524,993

)

NET CURRENT ASSETS

15,389,237

15,070,073

TOTAL ASSETS LESS CURRENT LIABILITIES

16,254,362

15,955,340

CREDITORS

Amounts falling due after more than one year

15

(15,316,188

)

(15,351,087

)

PROVISIONS FOR LIABILITIES

18

(180,512

)

(177,856

)

NET ASSETS

757,662

426,397

CAPITAL AND RESERVES

Called up share capital

19

1

1

Retained earnings

20

757,661

426,396

SHAREHOLDERS' FUNDS

757,662

426,397

The financial statements were approved by the Board of Directors and authorised for issue on 16 July 2026 and were signed on its behalf by:

G I Russell - Director

1.	STATUTORY INFORMATION

Archerfield & Fidra Golf Courses Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with 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.

The company has made a profit of £331,265 (2024 - £42,980) in the current financial year and has net assets of £757,662 (2024 - £426,397). The ability of the company to continue as a going concern is dependent on the ability of the company to secure memberships and sales.

Therefore, as there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, the directors have concluded this does not represent a material uncertainty with regards to going concern.

Thus, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

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

•

the requirements of Section 7 Statement of Cash Flows.

TURNOVER

Revenue comprises turnover recognised by the company is respect of golf memberships, pro shop sales and food and beverage sales during the year, exclusive of value added tax and trade discounts. Revenue is recognised at the point of sale for shop, food and beverage sales and on an accruals basis in relation to the period of memberships.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

7 years

Fixtures and fittings

-

7 years

Motor vehicles

-

25% per annum on cost

Computer equipment

-

7 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

STOCKS

Stocks, which are comprised of pro shop inventory, bar and food products, are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

GROUP TREASURY FACILITY

The company operates as a subsidiary within the Caledonian Heritable group. The parent company acts as treasury manager for the group, managing financing, borrowing facilities and cash on a group wide basis.

As a result, excess cash generated by the company can be used within the wider group to manage the group financing as required or cash requirements in excess of cash generated is provided by the wider group.

The company is therefore reliant on the parent company for such funding requirements and the directors have obtained confirmation from the parent company that such funding will be made available to the company for working capital purposes, should it be required.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In preparing the financial statements, the directors have identified the following area which is deemed to be a critical accounting policy or involves significant levels of estimation uncertainty.

Tangible fixed assets

Tangible fixed assets are depreciated over useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Membership and retail sales

7,375,729

6,756,525

7,375,729

6,756,525

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

7,375,729

6,756,525

7,375,729

6,756,525

5.	OTHER OPERATING INCOME

2025

2024

£

£

Sundry income

-

46,313

6.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,561,875

3,466,322

Social security costs

350,840

279,198

Other pension costs

62,784

108,445

3,975,499

3,853,965

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

2025

2024

Administrative

25

18

Food and beverage

75

73

Retail

8

7

Maintenance

38

47

146

145

7.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

100,385

100,000

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest paid

3,422

-

9.	PROFIT BEFORE TAXATION

The profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

245,390

242,757

Depreciation - assets on hire purchase contracts

9,543

9,543

Loss on disposal of fixed assets

183

-

Defined contribution pension cost

62,784

108,445

10.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

119,669

53,650

Tax adjustment prior year

-

(47

)

Total current tax

119,669

53,603

Deferred tax

2,656

(28,546

)

Tax on profit

122,325

25,057

11.	TANGIBLE FIXED ASSETS

Fixtures

Heritable

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 November 2024

12,730

1,821,071

442,994

Additions

-

129,158

61,118

Disposals

-

(2,035

)

-

At 31 October 2025

12,730

1,948,194

504,112

DEPRECIATION

At 1 November 2024

1,337

1,178,568

233,748

Charge for year

1,592

177,297

56,511

Eliminated on disposal

-

(1,852

)

-

At 31 October 2025

2,929

1,354,013

290,259

NET BOOK VALUE

At 31 October 2025

9,801

594,181

213,853

At 31 October 2024

11,393

642,503

209,246

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2024

142,440

61,713

2,480,948

Additions

9,000

35,698

234,974

Disposals

(47,050

)

(20,386

)

(69,471

)

At 31 October 2025

104,390

77,025

2,646,451

DEPRECIATION

At 1 November 2024

123,408

58,620

1,595,681

Charge for year

13,625

5,908

254,933

Eliminated on disposal

(47,050

)

(20,386

)

(69,288

)

At 31 October 2025

89,983

44,142

1,781,326

NET BOOK VALUE

At 31 October 2025

14,407

32,883

865,125

At 31 October 2024

19,032

3,093

885,267

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 November 2024

and 31 October 2025

68,167

DEPRECIATION

At 1 November 2024

11,929

Charge for year

9,543

At 31 October 2025

21,472

NET BOOK VALUE

At 31 October 2025

46,695

At 31 October 2024

56,238

12.

STOCKS

2025

2024

£

£

Retail

183,058

215,080

Bar

39,850

43,507

Food

20,614

23,204

243,522

281,791

13.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

973,191

823,147

Other debtors

254

669

Prepayments

157,758

183,031

1,131,203

1,006,847

Amounts falling due after more than one year:

Amounts owed by group undertakings

16,897,963

15,743,175

Aggregate amounts

18,029,166

16,750,022

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 16)

13,774

13,774

Trade creditors

224,863

216,648

Amounts owed to group undertakings

331,185

647,841

Tax

91,669

53,603

Social security and other taxes

894,317

864,353

Other creditors

280,296

252,240

Accruals and deferred income

3,733,236

3,476,534

5,569,340

5,524,993

15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 16)

13,188

26,962

Debenture loans

15,303,000

15,324,125

15,316,188

15,351,087

16.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

13,774

13,774

Between one and five years

13,188

26,962

26,962

40,736