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Registration number: 13238317

No Drama Holdings Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 31 July 2024

 

No Drama Holdings Limited

Contents

Company Information

1

Directors' Report

2

Statement of Directors' Responsibilities

3

Accountants' Report

4

Consolidated Balance Sheet

5 to 6

Balance Sheet

7

Consolidated Statement of Changes in Equity

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10 to 21

 

No Drama Holdings Limited

Company Information

Directors

Mr Shaun Atherton

Mr James Michael Jones

Mr Matthew Turnbull

Registered office

108 Broadway
Salford
Lancashire
M50 2EQ

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sale
Manchester
M33 7RR

 

No Drama Holdings Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the for the year ended 31 July 2024.

Directors of the group

The directors who held office during the year were as follows:

Mr Shaun Atherton

Mr James Michael Jones

Mr Matthew Turnbull

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
Mr Shaun Atherton
Director

 

No Drama Holdings Limited

Statement of Directors' Responsibilities

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
No Drama Holdings Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of No Drama Holdings Limited for the year ended 31 July 2024 as set out on pages 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/regulation.

This report is made solely to the Board of Directors of No Drama Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of No Drama Holdings Limited and state those matters that we have agreed to state to the Board of Directors of No Drama Holdings 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 No Drama Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that No Drama Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of No Drama Holdings Limited. You consider that No Drama Holdings 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 accounts of No Drama Holdings 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 accounts.

......................................

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
Manchester
M33 7RR

26 February 2025

 

No Drama Holdings Limited

(Registration number: 13238317)
Consolidated Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1,351,929

1,554,718

Tangible assets

6

5,499,261

4,822,641

 

6,851,190

6,377,359

Current assets

 

Debtors

8

709,182

539,589

Cash at bank and in hand

 

57,985

268,630

 

767,167

808,219

Creditors: Amounts falling due within one year

10

(2,187,712)

(2,003,843)

Net current liabilities

 

(1,420,545)

(1,195,624)

Total assets less current liabilities

 

5,430,645

5,181,735

Creditors: Amounts falling due after more than one year

10

(517,003)

(813,984)

Provisions for liabilities

(1,166,629)

(749,143)

Net assets

 

3,747,013

3,618,608

Capital and reserves

 

Called up share capital

12

1,258,680

1,258,680

Revaluation reserve

1,199,546

1,065,800

Retained earnings

1,288,787

1,294,128

Equity attributable to owners of the company

 

3,747,013

3,618,608

Shareholders' funds

 

3,747,013

3,618,608

 

No Drama Holdings Limited

(Registration number: 13238317)
Consolidated Balance Sheet as at 31 July 2024

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
Mr Shaun Atherton
Director

 

No Drama Holdings Limited

(Registration number: 13238317)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

7

2,645,578

2,645,578

Current assets

 

Debtors

8

14,000

-

Cash at bank and in hand

 

4,198

11,039

 

18,198

11,039

Creditors: Amounts falling due within one year

10

(437,241)

(577,998)

Net current liabilities

 

(419,043)

(566,959)

Net assets

 

2,226,535

2,078,619

Capital and reserves

 

Called up share capital

12

1,258,680

1,258,680

Retained earnings

967,855

819,939

Shareholders' funds

 

2,226,535

2,078,619

The company made a profit after tax for the financial year of £177,916

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
Mr Shaun Atherton
Director

 

No Drama Holdings Limited

Consolidated Statement of Changes in Equity for the Year Ended 31 July 2024
Equity attributable to the parent company

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

Total equity
£

At 1 August 2023

1,258,680

1,065,800

1,294,128

3,618,608

3,618,608

Profit for the year

-

-

24,659

24,659

24,659

Other comprehensive income

-

133,746

-

133,746

133,746

Total comprehensive income

-

133,746

24,659

158,405

158,405

Dividends

-

-

(30,000)

(30,000)

(30,000)

At 31 July 2024

1,258,680

1,199,546

1,288,787

3,747,013

3,747,013

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

Total equity
£

At 1 August 2022

1,258,680

871,826

656,147

2,786,653

2,786,653

Profit for the year

-

-

661,981

661,981

661,981

Other comprehensive income

-

193,974

-

193,974

193,974

Total comprehensive income

-

193,974

661,981

855,955

855,955

Dividends

-

-

(24,000)

(24,000)

(24,000)

At 31 July 2023

1,258,680

1,065,800

1,294,128

3,618,608

3,618,608

 

No Drama Holdings Limited

Statement of Changes in Equity for the Year Ended 31 July 2024

Share capital
£

Retained earnings
£

Total
£

At 1 August 2023

1,258,680

819,939

2,078,619

Profit for the year

-

177,916

177,916

Dividends

-

(30,000)

(30,000)

At 31 July 2024

1,258,680

967,855

2,226,535

Share capital
£

Retained earnings
£

Total
£

At 1 August 2022

1,258,680

679,120

1,937,800

Profit for the year

-

164,819

164,819

Dividends

-

(24,000)

(24,000)

At 31 July 2023

1,258,680

819,939

2,078,619

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
108 Broadway
Salford
Lancashire
M50 2EQ

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 July 2024.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initally recorded at the functional currency rat eprevaioling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are accounted for based on the class of assets.

Long leasehold land and buildings, Office equipment, Motor Vehicles are stated in the balance sheet under the cost mode and therefore at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and Machinery are stated in the balance sheet under the revaluation model and therefore at the asset’s fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

10% & 16.67% Reducing Balance Basis

Office Equipment

25% Reducing Balance Basis

Motor Vehicles

25% Reducing Balance Basis

Leasehold Improvements

10% Straight Line Basis

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Asset class

Amortisation method and rate

Goodwill

10% Straight Line Basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff costs

2024
No.

2023
No.

The average number of persons employed by the group (including directors) during the year

22

18

4

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

197,500

180,000

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

5

Intangible assets

Group

Goodwill
 £

Total
£

Cost or valuation

Acquired through business combinations

2,027,892

2,027,892

At 31 July 2024

2,027,892

2,027,892

Amortisation

At 1 August 2023

473,174

473,174

Amortisation charge

202,789

202,789

At 31 July 2024

675,963

675,963

Carrying amount

At 31 July 2024

1,351,929

1,351,929

At 31 July 2023

1,554,718

1,554,718

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Tangible assets

Group

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

176,148

5,663,629

54,606

5,894,383

Revaluations

-

178,327

-

178,327

Additions

230

1,128,491

30,232

1,158,953

Disposals

-

(31,150)

-

(31,150)

At 31 July 2024

176,378

6,939,297

84,838

7,200,513

Depreciation

At 1 August 2023

44,094

1,007,467

20,181

1,071,742

Charge for the year

19,827

626,923

9,075

655,825

Eliminated on disposal

-

(26,315)

-

(26,315)

At 31 July 2024

63,921

1,608,075

29,256

1,701,252

Carrying amount

At 31 July 2024

112,457

5,331,222

55,582

5,499,261

At 31 July 2023

132,054

4,656,162

34,425

4,822,641

Included within the net book value of land and buildings above is £112,457 (2023 - £132,054) in respect of long leasehold land and buildings.
 

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

7

Investments

Group

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

No Drama Limited

108 Broadway,
Media City, Salford, M50 2UW

Ordinary Shares

100%

100%

England and Wales

Company

2024
£

2023
£

Investments in subsidiaries

2,645,578

2,645,578

Subsidiaries

£

Cost or valuation

At 1 August 2023

2,645,578

Provision

Carrying amount

At 31 July 2024

2,645,578

At 31 July 2023

2,645,578

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

8

Debtors

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

Trade debtors

 

609,358

478,404

-

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

-

14,000

-

Other debtors

 

1,150

1,999

-

-

Prepayments

 

98,674

59,186

-

-

 

709,182

539,589

14,000

-

9

Cash and cash equivalents

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Cash on hand

13

13

13

13

Cash at bank

57,970

268,615

4,185

11,026

Short-term deposits

2

2

-

-

57,985

268,630

4,198

11,039

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

10

Creditors

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

Due within one year

 

Loans and borrowings

13

962,958

821,226

-

-

Trade creditors

 

381,603

236,454

-

-

Amounts due to related parties

12,000

12,000

12,000

12,000

Social security and other taxes

 

138,851

171,967

-

-

Outstanding defined contribution pension costs

 

3,353

2,316

-

-

Other payables

 

504,298

641,307

407,000

555,000

Accruals

 

35,291

17,534

18,241

10,998

Income tax liability

149,358

101,039

-

-

 

2,187,712

2,003,843

437,241

577,998

Due after one year

 

Loans and borrowings

13

517,003

813,984

-

-

11

Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £14,551 (2023 - £11,535).

Contributions totalling £3,353 (2023 - £2,316) were payable to the scheme at the end of the year and are included in creditors.

 

No Drama Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

12

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

10

10

10

10

Ordinary B Shares of £1 each

3

3

3

3

Preference Shares of £1 each

1,258,666

1,258,666

1,258,666

1,258,666

1,258,679

1,258,679

1,258,679

1,258,679

13

Loans and borrowings

Non-current loans and borrowings

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Bank borrowings

7,334

88,937

-

-

Hire purchase contracts

509,669

725,047

-

-

517,003

813,984

-

-

Current loans and borrowings

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Bank borrowings

76,232

58,854

-

-

Hire purchase contracts

886,726

762,372

-

-

962,958

821,226

-

-