REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2021 |
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THE PET HEALTH PARTNERSHIP LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2021 |
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THE PET HEALTH PARTNERSHIP LIMITED |
THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
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Company Information | 1 |
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Report of the Accountants | 2 |
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Abridged Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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THE PET HEALTH PARTNERSHIP LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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6 Elsley Road |
Tilehurst |
Reading |
RG31 6RN |
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TAX ADVISORS: |
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The Old Dairy |
Ashton Hill Farm |
Weston Road |
Failand |
Bristol |
BS8 3US |
THE PET HEALTH PARTNERSHIP LIMITED |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
THE PET HEALTH PARTNERSHIP LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2021 set out on pages four to thirteen and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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6 Elsley Road |
Tilehurst |
Reading |
RG31 6RN |
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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ABRIDGED BALANCE SHEET |
31 JULY 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Revaluation reserve | 10 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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ABRIDGED BALANCE SHEET - continued |
31 JULY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
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1. | STATUTORY INFORMATION |
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The Pet Health Partnership Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of the amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recognised by reference to the stage of completion. |
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Goodwill |
With the transition to FRS 102 on 1st August 2016 amortisation now can only be amortised over 10 years |
starting from 1st August 2015. The policy is now updated to reflect this. |
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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. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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All fixed assets are initially recorded at cost. |
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Depreciation |
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An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve. |
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Government grants |
Any grants received as part of the Coronavirus Job Retention Scheme (CJRS), the Statutory Sick Pay |
(SSP) rebate scheme, Small Business Grant Fund (SBGF) or the Retail, Hospitality and Leisure Grant Fund (RHLGF) are recognised on an accruals basis. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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 enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 August 2020 |
and 31 July 2021 |
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AMORTISATION |
At 1 August 2020 |
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Amortisation for year |
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At 31 July 2021 |
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NET BOOK VALUE |
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At 31 July 2021 |
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At 31 July 2020 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 August 2020 |
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Additions |
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At 31 July 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for year |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1 August 2020 |
and 31 July 2021 | 56,970 |
DEPRECIATION |
At 1 August 2020 | 32,010 |
Charge for year | 6,240 |
At 31 July 2021 | 38,250 |
NET BOOK VALUE |
At 31 July 2021 | 18,720 |
At 31 July 2020 | 24,960 |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS |
2021 | 2020 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Barclays Bank PLC holds a fixed and floating debenture charge over the company's entire property and assets, present and future. |
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8. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax |
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Deferred |
tax |
£ |
Balance at 1 August 2020 |
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Credit to Income Statement during year | ( |
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Balance at 31 July 2021 |
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THE PET HEALTH PARTNERSHIP LIMITED (REGISTERED NUMBER: 04881969) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary A | £1 |
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10. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 August 2020 |
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231,667 |
Profit for the year |
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Dividends | ( |
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At 31 July 2021 |
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243,138 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the year end Mr J Ball was owed £Nil (2020: £Nil). |
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At the year end Mr P Melville was owed £30,000 (2020: £15,000). |
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These loans are interest free and without repayment terms. |
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12. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £60,000 (2020 - £30,000) were paid to the directors . |
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A shareholder and corporate director. |
The amount due to the related party at the balance sheet date was £30,000 (2020: £15,000). |
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A company in which J Ball is a director and shareholder. |
The amount due to the related party at the balance sheet date was £Nil (2020: £8). |
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A company in which J Ball is a director and shareholder. |
The amount due from the related party at the balance sheet date was £3,600 (2020: £Nil) |
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Any transactions between the company, Chameleon Henley Ltd, Cobham Veterinary Centre Ltd, Chameleon (Ockley) Ltd, J Ball and P Melville are on a commercial basis. |
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13. | ULTIMATE CONTROLLING PARTY |
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The directors are the controlling party by virtue of their controlling shareholding in the company. The ultimate |
controlling party is the same as the controlling party. |