REGISTERED NUMBER: 04700904 (England and Wales)

WARDMANS (MATLOCK) LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 30 APRIL 2025

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

9

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

to

13

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

to

25

DIRECTORS:

G M Wardman

M R Wardman

D A Wardman

J R Wardman

SECRETARY:

P M Taylor

REGISTERED OFFICE:

Old Coach Road

Tansley

Matlock

Derbyshire

DE4 5FY

REGISTERED NUMBER:

04700904 (England and Wales)

INDEPENDENT AUDITORS:

Davies Edwards & Co.

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

BANKERS:

HSBC Plc

Market Place

Chesterfield

Derbyshire

S40 1TN

The directors present their strategic report for the period 1 January 2024 to 30 April 2025.

Wardmans (Matlock) Limited are specialists in the supply of farm machinery and agricultural equipment to the farms in and around the Peak District.

REVIEW OF BUSINESS

The directors have chosen to prepare the company's accounts to cover the sixteen month period to the 30 April 2025. As a result of this change, the comparative amounts shown are not entirely comparable. The directors have chosen to prepare a longer period of account in order to benefit from the new audit threshold applying for periods commencing on or after 6 April 2025 which will be applicable to future years.

The company's turnover for the sixteen month period was £15.3m (£10.7m for the twelve months ended 31 December 2023). Net profit before tax was £767k (12 months ended 31 December 2023: £562k).

The company continues to generate good cash flows from its operations of £670k (2023: £389k). Current period cash flows have reduced as a result of the company purchasing additional freehold property for £464k as well as repaying director loans of £125k.

The company remains well placed to procure stocks, and make investments in the capital infrastructure of the business when needed. The company has incurred £30k (2023: £38k) of one off repair work to the business premises.

Shareholders funds increased by £567,722 (2023: £430,040) during the period.

Key performance indicators

2025 2023

Gross profit 7.45% 7.40%

Current asset ratio (excl. stocks) 1.81 2.94

Net profit before tax 4.94% 5.25%

PRINCIPAL RISKS AND UNCERTAINTIES

The company primarily supplies goods and services to the agricultural sector. With the withdrawal of the Rural Payment Agency subsidy impacting the cash flow of the company's primary market, this represents a turnover and profitability risk if these clients choose to retain their existing equipment in preference to new machinery.

Due to the value of equipment sold by the company, it is often the case that customers will purchase these goods on finance. A reduction in bank interest rates from 5.25% in August 2023 to 4.25% in May 2025 has been welcomed with turnover remaining strong during the period. However, any increase in interest rates may restrict the ability of customers to finance machinery via loan capital and remains an area of risk for the company.

The ability of the company's core farming customers to trade with the company is impacted by their own profits. The farming sector is a notoriously difficult market, with profitability determined by outside factors such as the weather affecting crop production, as well as market forces as to what farmers can sell their produce for.

Legislative changes to capital allowances and tax rates can impact the company's sales. If tax benefits for other businesses in investing in plant and machinery are reduced or withdrawn, this may impact the company's sales in future years.

In addition, the reduction in the amount of 'Business Property Relief' and 'Agricultural Property Relief' from 100% to a maximum of £1million for inheritance tax is a concern. Due to the reduction in relief available, it is a concern of the directors that farmers may not continue to invest in machinery, due to concerns of the amount of inheritance tax that may become payable on a future death, with farms delaying capital expenditure in order to build cash reserves in order to fund any inheritance tax liabilities.

Despite this the directors remain confident that the company is well placed to continue and grow due to its expertise in agricultural machinery and strong reserves. Therefore they continue to adopt the going concern basis of accounting in preparation of the financial statements.

ON BEHALF OF THE BOARD:

G M Wardman - Director

25 October 2025

The directors present their report with the financial statements of the company for the period 1 January 2024 to 30 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the sale and repair of agricultural equipment and 4 x 4 vehicles.

DIVIDENDS

An interim dividend of £14.2857 per share was paid on 1 January 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 30 April 2025 will be £ 1,429 .

DIRECTORS

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

G M Wardman

M R Wardman

D A Wardman

J R Wardman

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.

ON BEHALF OF THE BOARD:

G M Wardman - Director

25 October 2025

Opinion

We have audited the financial statements of Wardmans (Matlock) Limited (the 'company') for the period ended 30 April 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:

-give a true and fair view of the state of the company’s affairs as at 30 April 2025 and of the company’s profit for the period 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 qualified opinion

We were not appointed as auditor of the company until after 31 December 2023 and thus did not observe the counting of physical inventories at the end of that year. We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31 December 2023, which are included in the balance sheet at £2,827,206, by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount was necessary.

In addition, were any adjustments to the stock balance required, the strategic report would also need to be amended.

These figures affect the closing stock values on the comparative figures and opening stock values on the financial statements for the period ended 30 April 2025.

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 Auditor’s 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 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 qualified 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.

Key audit matters

Except for the matter described in the basis for qualified opinion section, we have determined that there are no key audit matters to be communicated in our 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.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the stock quantities of £2,827,206 held at 31 December 2023. We have concluded that where the other information refers to the stock balance or related balances such as cost of sales, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report, 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

Except for the matter described in the basis for qualified opinion section of our report, in 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 Directors' Report.

Arising solely from the limitation on the scope of our work relating to stock, referred to above:

- We have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- In our opinion, adequate accounting records have not been kept.

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

- 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.

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:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- The nature of the industry and sector, control environment and business performance including targets for income and net profit;

- Results of our enquiries of management and the directors about their own identification and assessment of the risks of irregularities;

- Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance, including any related to the General Data Protection Regulations or Bribery Act 2010.

- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- The internal controls to mitigate risks of fraud or non-compliance with laws and regulations;

- The matters discussed among the audit engagement team and including relevant internal tax specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud in the ability of management to manipulate revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006 and the Financial Reporting Standard 102.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These include The General Data Protection Regulations, the Bribery Act 2010 and Health and Safety policies.

Audit Response to Risks Identified

Our procedures to respond to risks identified above include the following:

- Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements:

- Enquiring of management and directors concerning actual and potential litigation and claims;

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the fraud risk in revenue recognition at an analytical review level, we developed an expectation of the revenue with reference to our experience of the client and discussions on the recognition and volatility of revenue in the year ; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rational of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Richard Adrian Edwards (Senior Statutory Auditor)

for and on behalf of Davies Edwards & Co.

West Lodge

Rainbow Street

Leominster

Herefordshire

HR6 8DQ

3 November 2025

TURNOVER

3

15,533,665

10,691,496

Cost of sales

(14,375,791

)

(9,900,067

)

GROSS PROFIT

1,157,874

791,429

Administrative expenses

(465,465

)

(307,939

)

692,409

483,490

Other operating income

105,943

78,735

OPERATING PROFIT

5

798,352

562,225

Interest receivable and similar income

643

104

798,995

562,329

Gain/loss on revaluation of investment property

(25,000

)

-

773,995

562,329

Interest payable and similar expenses

6

(6,702

)

-

PROFIT BEFORE TAXATION

767,293

562,329

Tax on profit

7

(198,142

)

(132,289

)

PROFIT FOR THE FINANCIAL PERIOD

569,151

430,040

PROFIT FOR THE PERIOD

569,151

430,040

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

569,151

430,040

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

1,304,954

805,292

Investment property

11

675,000

700,000

1,979,954

1,505,292

CURRENT ASSETS

Stocks

12

3,071,890

2,827,206

Debtors

13

1,689,025

1,037,893

Cash at bank and in hand

523,023

683,775

5,283,938

4,548,874

CREDITORS

Amounts falling due within one year

14

(1,219,328

)

(586,504

)

NET CURRENT ASSETS

4,064,610

3,962,370

TOTAL ASSETS LESS CURRENT LIABILITIES

6,044,564

5,467,662

PROVISIONS FOR LIABILITIES

15

(81,286

)

(72,106

)

NET ASSETS

5,963,278

5,395,556

CAPITAL AND RESERVES

Called up share capital

16

100

100

Fair value reserve

17

19,652

44,652

Retained earnings

17

5,943,526

5,350,804

SHAREHOLDERS' FUNDS

5,963,278

5,395,556

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2025 and were signed on its behalf by:

G M Wardman - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

100

4,920,764

44,652

4,965,516

Changes in equity

Total comprehensive income

-

430,040

-

430,040

Balance at 31 December 2023

100

5,350,804

44,652

5,395,556

Changes in equity

Dividends

-

(1,429

)

-

(1,429

)

Total comprehensive income

-

594,151

(25,000

)

569,151

Balance at 30 April 2025

100

5,943,526

19,652

5,963,278

Cash flows from operating activities

Cash generated from operations

1

670,257

389,086

Interest paid

(6,702

)

-

Tax paid

(130,689

)

(126,367

)

Net cash from operating activities

532,866

262,719

Cash flows from investing activities

Purchase of tangible fixed assets

(675,216

)

(49,393

)

Sale of tangible fixed assets

107,750

26,500

Interest received

643

104

Net cash from investing activities

(566,823

)

(22,789

)

Cash flows from financing activities

Amount introduced by directors

-

125,000

Amount withdrawn by directors

(125,366

)

-

Equity dividends paid

(1,429

)

-

Net cash from financing activities

(126,795

)

125,000

(Decrease)/increase in cash and cash equivalents

(160,752

)

364,930

Cash and cash equivalents at beginning of period

2

683,775

318,845

Cash and cash equivalents at end of period

2

523,023

683,775

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

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Profit before taxation

767,293

562,329

Depreciation charges

62,837

40,888

Loss/(profit) on disposal of fixed assets

4,967

(13,782

)

Loss on revaluation of fixed assets

25,000

-

Finance costs

6,702

-

Finance income

(643

)

(104

)

866,156

589,331

Increase in stocks

(244,684

)

(105,666

)

Increase in trade and other debtors

(651,132

)

(59,249

)

Increase/(decrease) in trade and other creditors

699,917

(35,330

)

Cash generated from operations

670,257

389,086

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:

Period ended 30 April 2025

30/4/25

1/1/24

£

£

Cash and cash equivalents

523,023

683,775

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

683,775

318,845

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24

Cash flow

At 30/4/25

£

£

£

Net cash

Cash at bank and in hand

683,775

(160,752

)

523,023

683,775

(160,752

)

523,023

Total

683,775

(160,752

)

523,023

1.	STATUTORY INFORMATION

Wardmans (Matlock) 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, paid in connection with the acquisition of a business in 2003 has been fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

2% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% on reducing balance

Tangible fixed assets are initially measured at historical cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slowing moving items. Stock is valued on a first in, first out basis.

Taxation

Taxation for the period 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 period 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.

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.

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:

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Sale of goods

15,533,665

10,691,496

15,533,665

10,691,496

An analysis of turnover by geographical market is given below:

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

United Kingdom

15,518,665

10,628,396

Europe

15,000

63,100

15,533,665

10,691,496

4.	EMPLOYEES AND DIRECTORS

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Wages and salaries

531,498

381,719

Social security costs

42,214

30,347

Other pension costs

6,883

4,528

580,595

416,594

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

Period

1/1/24

to

Year ended

30/4/25

31/12/23

Average number of employees

15

14

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Directors' remuneration

137,938

103,438

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Depreciation - owned assets

62,837

40,888

Loss/(profit) on disposal of fixed assets

4,967

(13,782

)

Auditors' remuneration

11,550

11,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/1/24

to

Year ended

30/4/25

31/12/23

£

£

Bank loan interest

6,702

-