REGISTERED NUMBER: 02026578 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BARCLAY ROOFING LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

9

Balance Sheet

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

DIRECTORS:

Mr M C Flounders

Mrs R E C Flounders

SECRETARY:

Mr J Caine

REGISTERED OFFICE:

Portrack Grange Road

Portrack Industrial Estate

Stockton-on-Tees

TS18 2PH

REGISTERED NUMBER:

02026578 (England and Wales)

SENIOR STATUTORY AUDITOR:

Jeremy Lester BFP FCA

INDEPENDENT AUDITORS:

Baines Jewitt Limited

Statutory Auditors

Spitfire House

19 Falcon Court

Preston Farm Industrial Estate

Stockton-on-Tees

TS18 3TU

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The directors are delighted to be able to report such a positive position for 2024. This follows a year of investment in which the senior leadership team committed resources to digitisation to support commercial, operational and financial efficiency. As a result, several key digital projects were delivered with the goal of maximising profitability whilst further improving service delivery and customer satisfaction.

Market conditions were less favourable during this reporting period than in 2023. The post-covid boon in construction that flourished in the years after the pandemic slowed, thanks mainly to geopolitical factors including the election of new governments in the UK and the USA. Subsequent policy change and the global uncertainty that followed certainly impacted the confidence of our core client base, mainly evidenced by a reluctance to commit investment beyond the very short term. Likewise, we saw materials price fluctuations in our supply chain as manufacturers were impacted by continued core cost pressure and the introduction of an ever more rigorous regulatory environment. For Barclay Roofing, this made maintaining the strong margins we have been able to achieve in recent years more challenging.

However, we were able to maintain our margin without compromising on quality or customer experience thanks to our various digital investments. These included the development of a bespoke purchasing system and an associated app. The implementation of the purchasing system, whilst being a 12-month investment of time and money, allowed complete transparency over purchasing habits, resulting in a far more acute ability to control costs. Likewise, the app that was created alongside the new purchasing system created significant operational efficiencies which resulted in further cost savings.

The company tightly manages its cash flow and working capital and uses several key performance indicators (KPI's) to further monitor its performance. The KPI's are considered to be those that communicate the financial performance of the company as a whole, these being turnover, gross profit, operating profit and net profit before tax:

2024

2023

Change

£

£

Turnover

8,982,145

10,396,996

-13.6%

Gross profit

2,853,927

3,103,040

-8.0%

Operating profit

876,710

1,360,904

-35.6%

Profit before tax

910,453

1,383,269

-34.2%

PRINCIPAL RISKS AND UNCERTAINTIES

The company closely monitors any potential risks and uncertainties within the roofing industry. The principal risks are detailed below:

Economy

The company receives a large proportion of its turnover from customers within the new build housing market and tier one contractors. Any fall in activity within the building sector may significantly impact on the turnover of the business. As such, the company is always susceptible to the economic volatility of the market, which could slow house building and new project launches, and see increases in material prices.

Competition

The company's customer base is primarily made up of national housebuilders and construction companies and it faces competition from a number of other roofing contractors within the industry. The company aims to mitigate this risk by regularly reviewing its margins and pricing within the market and maintaining close relationships with its principal customers.

Credit risk

This is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The company's policies are aimed at minimising such losses and require that deferred terms are only granted to customers who demonstrate an appropriate payment history and satisfy credit worthiness procedures.

PRINCIPAL RISKS AND UNCERTAINTIES (continued)

Liquidity and cash flow

This is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The company aims to mitigate liquidity risk by managing cash generation from its operations, applying cash collection targets and regularly monitoring cash flow to ensure it can continue to meet its obligations as and when they fall due.

Labour availability

This is the risk that the company is unable to fulfil its service obligations or actively pursue new business due to a lack of skilled labour. The company aims to mitigate this risk by continuing to grow its apprenticeship and upskilling programmes whilst making careers in the company an attractive prospect by increasing wages in line with comparable trades.

FUTURE DEVELOPMENTS

During 2025, we will build on the foundations laid during 2024. We will further consolidate and develop the purchasing system and will review our buying practise. We will also further develop our app to increase its beneficial functionality within the company.

We will also continue to build our workforce resilience by introducing a more robust training and development programme to ensure that we remain a great employer that offers the highest quality roofing services to our client base.

ON BEHALF OF THE BOARD:

Mrs R E C Flounders - Director

1 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of roofing contractors.

DIVIDENDS

The total distribution of dividends for the year ended 31 December 2024 will be £360,610. The directors recommend that no final dividend be paid.

FUTURE DEVELOPMENTS

Details of future developments are covered in the strategic report.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr M C Flounders

Mrs R E C Flounders

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	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 company's transactions and disclose with reasonable accuracy at any time the financial position of 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Baines Jewitt Limited, will be proposed for re-appointment.

ON BEHALF OF THE BOARD:

Mrs R E C Flounders - Director

1 September 2025

Opinion

We have audited the financial statements of Barclay Roofing Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to building regulations, Health & Safety and Employment law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Audit procedures performed by the engagement team included:

-

discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

-

evaluation and testing of the operating effectiveness of management's controls designed to prevent and detect irregularities;

-

challenging assumptions and judgements made by management in their significant accounting estimates; and

-

identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jeremy Lester BFP FCA (Senior Statutory Auditor)

for and on behalf of Baines Jewitt Limited

Statutory Auditors

Spitfire House

19 Falcon Court

Preston Farm Industrial Estate

Stockton-on-Tees

TS18 3TU

15 September 2025

TURNOVER

3

8,982,145

10,396,996

Cost of sales

6,128,218

7,293,956

GROSS PROFIT

2,853,927

3,103,040

Administrative expenses

2,012,912

1,764,003

841,015

1,339,037

Other operating income

4

35,695

21,867

OPERATING PROFIT

6

876,710

1,360,904

Interest receivable and similar income

8

33,743

22,365

PROFIT BEFORE TAXATION

910,453

1,383,269

Tax on profit

9

189,057

326,255

PROFIT FOR THE FINANCIAL YEAR

721,396

1,057,014

Retained earnings at beginning of year

3,979,292

3,111,151

Dividends

10

(360,610

)

(188,873

)

RETAINED EARNINGS AT END OF YEAR

4,340,078

3,979,292

FIXED ASSETS

Tangible assets

12

72,915

48,686

CURRENT ASSETS

Stocks

13

69,891

124,215

Debtors

14

4,250,878

3,798,330

Cash at bank and in hand

1,403,821

1,393,801

5,724,590

5,316,346

CREDITORS

Amounts falling due within one year

15

1,436,237

1,370,615

NET CURRENT ASSETS

4,288,353

3,945,731

TOTAL ASSETS LESS CURRENT LIABILITIES

4,361,268

3,994,417

PROVISIONS FOR LIABILITIES

17

18,190

12,125

NET ASSETS

4,343,078

3,982,292

CAPITAL AND RESERVES

Called up share capital

18

3,000

3,000

Retained earnings

19

4,340,078

3,979,292

SHAREHOLDERS' FUNDS

4,343,078

3,982,292

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2025 and were signed on its behalf by:

Mr M C Flounders - Director

Mrs R E C Flounders - Director

Cash flows from operating activities

Cash generated from operations

1

1,567,658

1,307,235

Tax paid

(319,678

)

(139,095

)

Net cash from operating activities

1,247,980

1,168,140

Cash flows from investing activities

Purchase of tangible fixed assets

(44,480

)

(37,832

)

Interest received

33,743

22,365

Net cash from investing activities

(10,737

)

(15,467

)

Cash flows from financing activities

Amount introduced by directors

-

400

Amount withdrawn by directors

(780,300

)

-

Loans advanced to group companies

(86,313

)

(345,053

)

Equity dividends paid

(360,610

)

(188,873

)

Net cash from financing activities

(1,227,223

)

(533,526

)

Increase in cash and cash equivalents

10,020

619,147

Cash and cash equivalents at beginning of year

2

1,393,801

774,654

Cash and cash equivalents at end of year

2

1,403,821

1,393,801

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit before taxation

910,453

1,383,269

Depreciation charges

20,250

11,510

Loss on disposal of fixed assets

1

60

Finance income

(33,743

)

(22,365

)

896,961

1,372,474

Decrease/(increase) in stocks

54,324

(10,981

)

Decrease in trade and other debtors

676,881

132,898

Decrease in trade and other creditors

(60,508

)

(187,156

)

Cash generated from operations

1,567,658

1,307,235

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,403,821

1,393,801

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,393,801

774,654

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

1,393,801

10,020

1,403,821

1,393,801

10,020

1,403,821

Total

1,393,801

10,020

1,403,821

1.	STATUTORY INFORMATION

Barclay Roofing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax. Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered.

For long-term contracts, where the outcome can be estimated reliably, turnover is recognised by reference to the stage of completion. The stage of completion is measured by the proportion of contract costs incurred to date compared to the estimated total contract costs, reflective of both the materials content and labour costs.

Where the outcome of a long-term contract cannot be estimated reliably, contract turnover is recognised to the extent that contract costs will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is possible that the total contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost and 15% on cost

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued on the basis of direct costs and direct labour, at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Grants

Capital based grants are credited to the profit and loss account in equal instalments over the estimated useful life of the related asset. Revenue based grants are credited to the profit and loss on receipt.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024

2023

£

£

Provision of roofing services

8,982,145

10,396,996

8,982,145

10,396,996

4.	OTHER OPERATING INCOME

2024

2023

£

£

Miscellaneous receipts

22,030

-

Government grants

13,665

21,867

35,695

21,867

5.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

2,374,983

2,240,593

Social security costs

243,097

218,888

Other pension costs

129,407

187,444

2,747,487

2,646,925

The average number of employees during the year was as follows:

2024

2023

Office and management

20

17

Production and sales

49

50

69

67

2024

2023

£

£

Directors' remuneration

25,257

34,042

Directors' pension contributions to money purchase schemes

60,000

120,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

6.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Hire of equipment and vehicles

398,672

423,900

Other operating leases

24,716

23,500

Depreciation - owned assets

20,250

11,510

Loss on disposal of fixed assets

1

60

7.	AUDITORS' REMUNERATION

2024

2023

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

22,500

24,000

Auditors' remuneration for non audit work

7,000

4,500

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

2024

2023

£

£

Deposit account interest

32,488

21,490

Other interest received

1,255

875

33,743

22,365

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

182,992

319,678

Deferred tax

6,065

6,577

Tax on profit

189,057

326,255

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit before tax

910,453

1,383,269

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

227,613

345,817

Effects of:

Expenses not deductible for tax purposes

180

548

Change in tax rate

-

(20,107

)

Research and development enhanced deduction

(38,733

)

-

Group relief received

(3

)

(3

)

Total tax charge

189,057

326,255

The expected net reversal of deferred tax liabilities in 2025 is £5,944. This is due to the reversal of accelerated capital allowances and short term timing differences.

10.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

360,610

188,873

11.	RESEARCH AND DEVELOPMENT

The total research and development expenditure recognised as an expense during the year amounted to £110,580 (2023: £nil).

12.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

26,501

108,890

-

135,391

Additions

-

11,414

33,066

44,480

Disposals

(2,995

)

-

-

(2,995

)

At 31 December 2024

23,506

120,304

33,066

176,876

DEPRECIATION

At 1 January 2024

23,552

63,153

-

86,705

Charge for year

1,795

14,322

4,133

20,250

Eliminated on disposal

(2,994

)

-

-

(2,994

)

At 31 December 2024

22,353

77,475

4,133

103,961

NET BOOK VALUE

At 31 December 2024

1,153

42,829

28,933

72,915

At 31 December 2023

2,949

45,737

-

48,686

13.

STOCKS

2024

2023

£

£

Work-in-progress

69,891

124,215

14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,030,253

1,617,488

Amounts owed by group undertakings

1,876,443

1,790,130

Other debtors

393,014

233,733

Directors' current accounts

779,900

-

Prepayments and accrued income

171,268

156,979

4,250,878

3,798,330

15.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

710,720

789,483

Tax

446,209

319,678

Social security and other taxes

94,357

86,351

Other creditors

83,474

59,440

Directors' current accounts

-

400

Accruals and deferred income

101,477

115,263

1,436,237

1,370,615