Mr. John Crawley:

It was for the end of 2013. We secured a valuation at the end of 2013 of €750,000. When we were coming to finalise the accounts, one of the steps was to ensure nothing had happened before signing off the accounts that could impair the value of the asset. As it happens, with the ship, we had the opportunity to put it into dry-dock, and when we did so we discovered that there were difficulties with the woodwork on the boat. We did not have a proper valuation, so we took a very conservative view and wrote the value down to €150,000 at the time. We have subsequently had a valuation which probably puts the value closer to €600,000.