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03715746
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03715746
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Company registration number:
03715746
Bawden & Associates Limited
Unaudited filleted financial statements
28 February 2024
Bawden & Associates Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Bawden & Associates Limited
Directors and other information
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Directors |
Mr P C Bawden |
(Resigned 1 February 2024) |
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Mr S Geary |
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Secretary |
Ms J Flynn |
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Company number |
03715746 |
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Registered office |
Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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Hertfordshire |
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AL5 4EE |
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Accountants |
Hicks and Company |
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Chartered Accountants |
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Vaughan Chambers |
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Vaughan Road |
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Harpenden |
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Hertfordshire |
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AL5 4EE |
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Bawden & Associates Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Bawden & Associates Limited
Year ended 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bawden & Associates Limited for the year ended 28 February 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Bawden & Associates Limited, as a body, in accordance with the terms of our engagement letter dated 12 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Bawden & Associates Limited and state those matters that we have agreed to state to the board of directors of Bawden & Associates Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bawden & Associates Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Bawden & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bawden & Associates Limited. You consider that Bawden & Associates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Bawden & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
20 November 2024
Bawden & Associates Limited
Statement of financial position
28 February 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 |
|
5 |
1 |
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1 |
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Tangible assets |
|
6 |
14,759 |
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19,682 |
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_________ |
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_________ |
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14,760 |
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19,683 |
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Current assets |
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Debtors |
|
7 |
413,395 |
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651,571 |
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Cash at bank and in hand |
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2,921 |
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24,182 |
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_________ |
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_________ |
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416,316 |
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675,753 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
324,900) |
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(
622,361) |
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_________ |
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_________ |
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Net current assets |
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91,416 |
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53,392 |
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_________ |
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_________ |
Total assets less current liabilities |
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106,176 |
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73,075 |
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Provisions for liabilities |
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(
2,620) |
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(
3,520) |
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_________ |
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_________ |
Net assets |
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103,556 |
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69,555 |
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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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120 |
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120 |
Profit and loss account |
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103,436 |
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69,435 |
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_________ |
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_________ |
Shareholders funds |
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103,556 |
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69,555 |
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_________ |
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_________ |
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For the year ending 28 February 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;
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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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
20 November 2024
, and are signed on behalf of the board by:
Mr S Geary
Director
Company registration number:
03715746
Bawden & Associates Limited
Notes to the financial statements
Year ended 28 February 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 Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over thecompanies 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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Goodwill |
- |
4 years straight line
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated 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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Fittings fixtures and equipment |
- |
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.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
4
).
5.
Intangible assets
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Goodwill |
Total |
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£ |
£ |
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Cost |
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At 1 March 2023 and 28 February 2024 |
12,000 |
12,000 |
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_________ |
_________ |
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Amortisation |
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At 1 March 2023 and 28 February 2024 |
11,999 |
11,999 |
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_________ |
_________ |
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Carrying amount |
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At 28 February 2024 |
1 |
1 |
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_________ |
_________ |
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At 28 February 2023 |
1 |
1 |
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_________ |
_________ |
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6.
Tangible assets
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Fixtures, fittings and equipment |
Total |
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£ |
£ |
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Cost |
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At 1 March 2023 and 28 February 2024 |
158,879 |
158,879 |
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_________ |
_________ |
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Depreciation |
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At 1 March 2023 |
139,197 |
139,197 |
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Charge for the year |
4,923 |
4,923 |
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_________ |
_________ |
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At 28 February 2024 |
144,120 |
144,120 |
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_________ |
_________ |
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Carrying amount |
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At 28 February 2024 |
14,759 |
14,759 |
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_________ |
_________ |
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|
|
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At 28 February 2023 |
19,682 |
19,682 |
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_________ |
_________ |
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7.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
|
364,777 |
478,743 |
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Other debtors |
|
48,618 |
172,828 |
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_________ |
_________ |
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413,395 |
651,571 |
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_________ |
_________ |
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8.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Bank loans and overdrafts |
|
35,043 |
32,320 |
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Trade creditors |
|
207,810 |
499,595 |
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Corporation tax |
|
10,735 |
6,325 |
|
Social security and other taxes |
|
11,166 |
10,818 |
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Other creditors |
|
60,146 |
73,303 |
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|
|
_________ |
_________ |
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324,900 |
622,361 |
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_________ |
_________ |
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9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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|
£ |
£ |
£ |
£ |
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|
Mr P C Bawden |
(
8,737) |
- |
8,737 |
- |
|
|
|
Mr S Geary |
175 |
(
175) |
- |
- |
|
|
|
|
_________ |
_________ |
_________ |
_________ |
|
|
|
|
(
8,562) |
(
175) |
8,737 |
- |
|
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|
_________ |
_________ |
_________ |
_________ |
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2023 |
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|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr P C Bawden |
(
17,937) |
9,200 |
- |
(
8,737) |
|
|
|
Mr S Geary |
175 |
- |
- |
175 |
|
|
|
|
_________ |
_________ |
_________ |
_________ |
|
|
|
|
(
17,762) |
9,200 |
- |
(
8,562) |
|
|
|
|
_________ |
_________ |
_________ |
_________ |
|
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