Company registration number:
03176158
HOME HEALTH (U.K.) LIMITED
Unaudited filleted financial statements
31 March 2024
HOME HEALTH (U.K.) LIMITED
Contents
Statement of financial position
Notes to the financial statements
HOME HEALTH (U.K.) LIMITED
Statement of financial position
31 March 2024
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2024 |
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2023 |
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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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6 |
50 |
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152 |
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Tangible assets |
|
7 |
26,512 |
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32,841 |
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Investments |
|
8 |
741,423 |
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725,291 |
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_______ |
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_______ |
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767,985 |
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758,284 |
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Current assets |
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Stocks |
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2,610,716 |
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2,570,492 |
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Debtors |
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9 |
813,861 |
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845,458 |
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Cash at bank and in hand |
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1,032,632 |
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1,181,534 |
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_________ |
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_________ |
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4,457,209 |
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4,597,484 |
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Creditors: amounts falling due |
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within one year |
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10 |
(
777,207) |
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(
909,146) |
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_______ |
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_______ |
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Net current assets |
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3,680,002 |
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3,688,338 |
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_________ |
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_________ |
Total assets less current liabilities |
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4,447,987 |
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4,446,622 |
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Provisions for liabilities |
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11 |
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(
17,015) |
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(
7,722) |
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_________ |
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_________ |
Net assets |
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4,430,972 |
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4,438,900 |
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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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50 |
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50 |
Capital redemption reserve |
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50 |
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50 |
Profit and loss account |
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4,430,872 |
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4,438,800 |
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_________ |
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_________ |
Shareholders funds |
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4,430,972 |
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4,438,900 |
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_________ |
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_________ |
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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;
-
The directors acknowledge their 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
22 October 2024
, and are signed on behalf of the board by:
Mr J R Baxter
Director
Company registration number:
03176158
HOME HEALTH (U.K.) LIMITED
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chancellors House, Brampton Lane, London, NW4 4AB.
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 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less accumulated amortisation and impairment losses. Trade marks are amortised over ten years on a straight line basis.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
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Leasehold improvements |
- |
Straight line over ten years (period of the lease) |
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Plant and machinery |
- |
25% reducing balance |
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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.
Fixed asset investments
Listed investments are measured at fair value with changes in the fair value being recognised in profit or loss.
Stocks
Stocks are value at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Foreign currencies
Transactions in foreign currencies are recorded in sterling at the exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the exchange rate prevailing at the reporting date. All exchange gains or losses are taken as profit or loss.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, amounts receivable or payable to related parties and other third parties. Debt instruments that are receivable or payable within one year, such as trade receivables and payables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be received or paid. Listed investments are measured at fair value with changes in the fair value being recognised in profit or loss.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
35
(2023:
34
).
5.
Income from other fixed asset investments
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2024 |
2023 |
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£ |
£ |
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Dividends from listed investments |
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32,843 |
20,543 |
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Gain/(Loss) on fair value adjustments-listed investments |
|
43,496 |
(16,128) |
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_______ |
_______ |
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76,339 |
4,415 |
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_______ |
_______ |
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6.
Intangible assets
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Trademarks |
Total |
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£ |
£ |
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Cost |
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At 1 April 2023 and 31 March 2024 |
1,020 |
1,020 |
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_______ |
_______ |
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Amortisation |
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At 1 April 2023 |
868 |
868 |
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Charge for the year |
102 |
102 |
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_______ |
_______ |
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At 31 March 2024 |
970 |
970 |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2024 |
50 |
50 |
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_______ |
_______ |
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At 31 March 2023 |
152 |
152 |
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_______ |
_______ |
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8.
Investments
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Loan to Home Health US, Inc. |
Listed Investments |
Total |
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£ |
£ |
£ |
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Cost or valuation |
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At 1 April 2023 |
27,364 |
697,927 |
725,291 |
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Additions |
1,060 |
- |
1,060 |
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Disposals |
(
28,125) |
- |
(
28,125) |
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Revaluations |
(
299) |
- |
(
299) |
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Fair value adjustment |
- |
43,496 |
43,496 |
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_______ |
_______ |
_______ |
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At 31 March 2024 |
- |
741,423 |
741,423 |
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_______ |
_______ |
_______ |
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Impairment |
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At 1 April 2023 and 31 March 2024 |
- |
- |
- |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 March 2024 |
- |
741,423 |
741,423 |
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_______ |
_______ |
_______ |
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At 31 March 2023 |
27,364 |
697,927 |
725,291 |
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_______ |
_______ |
_______ |
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Home Health US, Inc. is a wholly owned subsidiary of Home Health (U.K.) Limited.
9.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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628,516 |
640,405 |
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Other debtors |
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185,345 |
205,053 |
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_______ |
_______ |
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813,861 |
845,458 |
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_______ |
_______ |
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10.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
|
356,205 |
465,039 |
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Corporation tax |
|
121,520 |
108,839 |
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Social security and other taxes |
|
267,231 |
264,814 |
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Other creditors |
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32,251 |
70,454 |
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_______ |
_______ |
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777,207 |
909,146 |
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_______ |
_______ |
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11.
Provisions
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Deferred tax (note 12) |
Total |
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£ |
£ |
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At 1 April 2023 |
7,722 |
7,722 |
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Additions |
9,293 |
9,293 |
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_______ |
_______ |
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At 31 March 2024 |
17,015 |
17,015 |
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_______ |
_______ |
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12.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
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2024 |
2023 |
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|
£ |
£ |
|
Included in provisions (note 11) |
|
17,015 |
7,722 |
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|
_______ |
_______ |
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|
The deferred tax account consists of the tax effect of timing differences in respect of:
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|
2024 |
2023 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
6,628 |
8,210 |
|
Fair value adjustment of financial assets |
|
10,387 |
(
488) |
|
|
|
_______ |
_______ |
|
|
|
17,015 |
7,722 |
|
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|
_______ |
_______ |
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13.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
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|
£ |
£ |
|
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|
Not later than 1 year |
156,937 |
157,861 |
Later than 1 year and not later than 5 years |
613,583 |
594,224 |
Later than 5 years |
258,750 |
6,394 |
|
_________ |
_______ |
|
1,029,270 |
758,479 |
|
_________ |
_______ |
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