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31/08/2023
2023-08-31
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No description of principal activities is disclosed
2022-09-01
Sage Accounts Production 23.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
05036079
2022-09-01
2023-08-31
05036079
2023-08-31
05036079
2022-08-31
05036079
2021-09-01
2022-08-31
05036079
2022-08-31
05036079
2021-08-31
05036079
core:NetGoodwill
2022-09-01
2023-08-31
05036079
bus:RegisteredOffice
2022-09-01
2023-08-31
05036079
bus:LeadAgentIfApplicable
2022-09-01
2023-08-31
05036079
bus:Director1
2022-09-01
2023-08-31
05036079
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2023-08-31
05036079
core:WithinOneYear
2022-08-31
05036079
core:ShareCapital
2023-08-31
05036079
core:ShareCapital
2022-08-31
05036079
core:RetainedEarningsAccumulatedLosses
2023-08-31
05036079
core:RetainedEarningsAccumulatedLosses
2022-08-31
05036079
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2022-08-31
05036079
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2023-08-31
05036079
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2021-08-31
05036079
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2022-08-31
05036079
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2021-09-01
2022-08-31
05036079
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2022-09-01
2023-08-31
05036079
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2022-09-01
2023-08-31
05036079
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2022-09-01
2023-08-31
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2022-09-01
2023-08-31
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2022-09-01
2023-08-31
Company registration number:
05036079
Sparkbrook Enterprise Limited
Unaudited filleted abridged financial statements
31 August 2023
Sparkbrook Enterprise Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Sparkbrook Enterprise Limited
Directors and other information
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Director |
Mr Zahid Hussain Chishti |
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Company number |
05036079 |
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Registered office |
6th Floor AMP House |
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Dingwall Road |
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Croydon |
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CR0 2LX |
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Accountants |
Doshi & Co Accountants |
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6th Floor AMP House |
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Dingwall Road |
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Croydon |
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CR0 2LX |
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Sparkbrook Enterprise Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Sparkbrook Enterprise Limited
Year ended 31 August 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 August 2023 which comprise the abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Doshi & Co Accountants
6th Floor AMP House
Dingwall Road
Croydon
CR0 2LX
12 April 2024
Sparkbrook Enterprise Limited
Abridged statement of financial position
31 August 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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5 |
241,397 |
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241,397 |
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Tangible assets |
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6 |
4,735 |
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6,045 |
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_______ |
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_______ |
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246,132 |
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247,442 |
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Current assets |
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Stocks |
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41,505 |
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30,199 |
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Debtors |
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93,271 |
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80,709 |
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Cash at bank and in hand |
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89,221 |
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61,022 |
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_______ |
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_______ |
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223,997 |
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171,930 |
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Creditors: amounts falling due |
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within one year |
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(
440,901) |
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(
397,408) |
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_______ |
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_______ |
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Net current liabilities |
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(
216,904) |
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(
225,478) |
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_______ |
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_______ |
Total assets less current liabilities |
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29,228 |
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21,964 |
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_______ |
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_______ |
Net assets |
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29,228 |
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21,964 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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110 |
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110 |
Profit and loss account |
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29,118 |
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21,854 |
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_______ |
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_______ |
Shareholders funds |
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29,228 |
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21,964 |
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_______ |
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_______ |
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For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
12 April 2024
, and are signed on behalf of the board by:
Mr Zahid Hussain Chishti
Director
Company registration number:
05036079
Sparkbrook Enterprise Limited
Notes to the financial statements
Year ended 31 August 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6th Floor AMP House, Dingwall Road, Croydon, CR0 2LX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
10
(2022:
5
).
The aggregate payroll costs incurred during the year were:
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2023 |
2022 |
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£ |
£ |
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Wages and salaries |
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132,730 |
111,536 |
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Other pension costs |
|
1,101 |
1,042 |
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_______ |
_______ |
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133,831 |
112,578 |
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_______ |
_______ |
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5.
Intangible assets
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£ |
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Cost |
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At 1 September 2022 and 31 August 2023 |
241,397 |
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_______ |
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Amortisation |
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At 1 September 2022 and 31 August 2023 |
- |
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_______ |
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Carrying amount |
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At 31 August 2023 |
241,397 |
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_______ |
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At 31 August 2022 |
241,397 |
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_______ |
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6.
Tangible assets
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£ |
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Cost |
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At 1 September 2022 |
56,414 |
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Additions |
269 |
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_______ |
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At 31 August 2023 |
56,683 |
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_______ |
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Depreciation |
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At 1 September 2022 |
50,369 |
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Charge for the year |
1,579 |
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_______ |
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At 31 August 2023 |
51,948 |
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_______ |
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Carrying amount |
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At 31 August 2023 |
4,735 |
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_______ |
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At 31 August 2022 |
6,045 |
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_______ |
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8.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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£ |
£ |
£ |
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Mr Zahid Hussain Chishti |
(
318,151) |
(
10,306) |
(
328,457) |
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_______ |
_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the director |
Balance o/standing |
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|
£ |
£ |
£ |
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|
Mr Zahid Hussain Chishti |
(
40,708) |
(
277,443) |
(
318,151) |
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_______ |
_______ |
_______ |
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