Understanding PC (R15) register [ARM7]

Hi,
In startup code the first instruction is:

org 0x00
ldr pc,[pc,#24]


and at offset address 0x20:

org 0x20
dc32 ?cstartup

What I don't understand here is, after the first instruction shown above how come PC holds 0x20 and not 0x18??
Isn't PC supposed to be pointing to the current instruction being executed? If that's the case after the above step shouldn't PC be
(0x00 + #24)= (0x00 + 0x18) = 0x18 ??

Thanks.

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