IRIS Accounts Production
v19.1.1.57
03272908
Board of Directors
1.4.18
31.3.19
31.3.19
29/7/2019
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Auditors Opinion
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REGISTERED NUMBER:
03272908
(England and Wales)
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AUDITED FINANCIAL STATEMENTS
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FOR THE YEAR ENDED 31 MARCH 2019
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Notes to the Financial Statements
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4
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REGISTERED OFFICE:
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3 Russell Cotes Road
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REGISTERED NUMBER:
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03272908 (England and Wales)
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SENIOR STATUTORY
AUDITOR:
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Anthony Cooke FCA
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AUDITORS:
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Carter & Coley Limited
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Chartered Accountants and Statutory Auditor
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BANKERS:
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National Westminster Bank
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Intangible assets
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4
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477,500
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573,000
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Tangible assets
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5
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2,054,354
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2,007,945
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Cash at bank and in hand
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257,439
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488,989
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Amounts falling due within one year
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7
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472,374
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494,170
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NET CURRENT (LIABILITIES)/ASSETS
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(141,655
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) |
100,576
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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2,390,199
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2,681,521
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Amounts falling due after more than one
year
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8
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(404,228
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) |
(499,294
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) |
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PROVISIONS FOR LIABILITIES
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(63,445
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) |
(43,674
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) |
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NET ASSETS
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1,922,526
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2,138,553
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Called up share capital
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101,000
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101,000
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Other reserve
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10
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1,451,673
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1,451,673
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Retained earnings
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369,853
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585,880
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SHAREHOLDERS' FUNDS
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1,922,526
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2,138,553
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The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors on
29 July 2019 and were signed on its
behalf by:
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Marsham Court Hotel Ltd is a
private company, limited by shares , registered in England and Wales.
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The company's registered number and registered office address can be found on the Company
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Basis of preparing the financial statements
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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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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The financial statements have been prepared on the going concern basis. This assumes that the
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company's directors and creditors will continue to support the business.
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Turnover represents accommodation, restaurant and bar sales, excluding value added tax.
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Goodwill was revalued in 2014 and is being written off over its estimated useful life of 10 years. In
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accordance with the transitional provisions of FRS102, the revaluation in 2014 has been adopted as
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
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Fixtures and fittings
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-
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25% on reducing balance |
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Leasehold property was revalued in 2014 and is being written off over the unexpired term of the
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lease. In accordance with the transitional provisions of FRS102, the revaluation in 2014 has been
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for
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obsolete and slow moving items.
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Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
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except to the extent that it relates to items recognised in other comprehensive income or directly in
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Current or deferred taxation assets and liabilities are not discounted.
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
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enacted or substantively enacted by the balance sheet date.
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods
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different from those in which they are recognised in financial statements. Deferred tax is measured
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using tax rates and laws that have been enacted or substantively enacted by the year end and that are
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expected to apply to the reversal of the timing difference.
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable
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that they will be recovered against the reversal of deferred tax liabilities or other future taxable
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Hire purchase and leasing commitments
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the
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company's pension scheme are charged to profit or loss in the period to which they relate.
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3.
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EMPLOYEES AND DIRECTORS
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The average number of employees during the year was
76 (2018 -
72 ) .
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4.
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INTANGIBLE FIXED ASSETS
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and 31 March 2019
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955,000
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Amortisation for year
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95,500
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leasehold
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fittings
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Totals
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At 1 April 2018
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1,950,627
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1,352,083
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3,302,710
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Additions
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-
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218,417
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218,417
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At 31 March 2019
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1,950,627
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1,570,500
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3,521,127
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At 1 April 2018
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205,243
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1,089,522
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1,294,765
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Charge for year
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51,763
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120,245
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172,008
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At 31 March 2019
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257,006
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1,209,767
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1,466,773
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At 31 March 2019
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1,693,621
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360,733
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2,054,354
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At 31 March 2018
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1,745,384
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262,561
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2,007,945
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6.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade debtors
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4,886
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14,747
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Prepayments and accrued income
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28,768
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71,461
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7.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Bank loans and overdrafts
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95,744
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92,965
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Trade creditors
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122,549
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151,122
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Social security and other taxes
|
15,482
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15,502
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Other creditors
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188,815
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165,165
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Wages control
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6,381 |
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6,451 |
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Accruals and deferred income
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3,800
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5,750
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8.
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
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Bank loans - 1-2 years
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98,607
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95,744
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Bank loans - 2-5 years
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305,621
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403,550
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The following secured debts are included within creditors:
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Bank loans
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499,972
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592,259
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The company's bankers have taken security by way of a fixed charge over the company's leasehold
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property and a floating charge over the remainder of the company's assets.
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and 31 March 2019
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1,451,673
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The other reserve is the former revaluation reserve that is non distributable.
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11.
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DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006
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The Report of the Auditors was unqualified.
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Anthony Cooke FCA (Senior Statutory Auditor)
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for and on behalf of
Carter & Coley Limited |
12.
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APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
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In common with many other businesses of our size and nature we use our auditors to prepare and
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submit returns to the tax authorities and assist with the preparation of the financial statements.
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