I am afraid I haven't been able to explain myself well enough. The spreadsheet is used to produce invoices. The invoices have two boxes - the first contains the invoicing name and address(the owner or a managing company). The second contains the store location.

The "Invoice To" box picks up the details from the cell containing the formula I sent. In cases where there is a management company or owner, I overtype the formula with the different name & address. The "Location" box picks up the details from the individual cells C to N.

It works - my invoices are correct. My question was why does it work? I don't understand how to read the formula and wondered if someone could explain the steps to me.

Never mind - as I said, it works so I'll just go with it.