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Report of the Directors and |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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Crown Blinds Limited |
REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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Crown Blinds Limited |
Crown Blinds Limited (Registered number: 05415508) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Crown Blinds Limited |
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Company Information |
for the Year Ended 30 April 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 46 |
Manor Court |
Salesbury Hall Road |
Ribchester |
Lancashire |
PR3 3XR |
Crown Blinds Limited (Registered number: 05415508) |
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Report of the Directors |
for the Year Ended 30 April 2020 |
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The directors present their report with the financial statements of the company for the year ended 30 April 2020. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of trading blinds. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2019 to the date of this report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Crown Blinds Limited (Registered number: 05415508) |
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Income Statement |
for the Year Ended 30 April 2020 |
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2020 | 2019 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales | ( |
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GROSS PROFIT |
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Distribution costs | ( |
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Administrative expenses | ( |
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26,939 | 69,571 |
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Other operating income |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses | ( |
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PROFIT BEFORE TAXATION |
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Tax on profit | 5 | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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Crown Blinds Limited (Registered number: 05415508) |
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Balance Sheet |
30 April 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 7 |
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Tangible assets | 8 |
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CURRENT ASSETS |
Stocks |
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Debtors | 9 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 10 |
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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 |
11 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
Crown Blinds Limited (Registered number: 05415508) |
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Balance Sheet - continued |
30 April 2020 |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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Crown Blinds Limited (Registered number: 05415508) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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Crown Blinds Limited is a
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registered number and registered office address can be found on the Company Information page. |
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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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Goodwill |
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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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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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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. |
Crown Blinds Limited (Registered number: 05415508) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2020 | 2019 |
£ | £ |
Depreciation - owned assets |
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5. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2020 | 2019 |
£ | £ |
Current tax: |
UK corporation tax |
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Deferred tax | ( |
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Tax on profit |
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6. | DIVIDENDS |
2020 | 2019 |
£ | £ |
Ordinary shares of 1 each |
Interim |
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Crown Blinds Limited (Registered number: 05415508) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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7. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 May 2019 |
and 30 April 2020 |
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AMORTISATION |
At 1 May 2019 |
and 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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8. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2019 |
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Additions |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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Crown Blinds Limited (Registered number: 05415508) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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8. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2019 |
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Additions |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 May 2019 |
and 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
and 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Prepayments |
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Crown Blinds Limited (Registered number: 05415508) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts (see note 12) |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 10,519 | 24,733 |
Other creditors |
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Directors' current accounts | 146 | 9,127 |
Accrued expenses |
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11. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans (see note 12) |
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Hire purchase contracts |
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12. | LOANS |
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An analysis of the maturity of loans is given below: |
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2020 | 2019 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans < 1 year |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years | ( |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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