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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30th September 2017 |
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Enterprise Adhesives & Chemicals Ltd |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 30th September 2017 |
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for |
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Enterprise Adhesives & Chemicals Ltd |
Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Contents of the Financial Statements |
for the Year Ended 30th September 2017 |
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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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Enterprise Adhesives & Chemicals Ltd |
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Company Information |
for the Year Ended 30th September 2017 |
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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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52 Fielding Way |
Hutton |
Brentwood |
Essex |
CM13 1JN |
Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Report of the Directors |
for the Year Ended 30th September 2017 |
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The directors present their report with the financial statements of the company for the year ended 30th September 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the manufacture and marketing of adhesives |
and chemicals. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st October 2016 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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Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Income Statement |
for the Year Ended 30th September 2017 |
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30.9.17 | 30.9.16 |
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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747,317 | 634,194 |
OPERATING (LOSS)/PROFIT | 4 | ( |
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Interest payable and similar expenses | 5 |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit | ( |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Balance Sheet |
30th September 2017 |
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30.9.17 | 30.9.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
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( |
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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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Revaluation reserve | 11 |
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Retained earnings | ( |
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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. |
Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Balance Sheet - continued |
30th September 2017 |
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The financial statements were approved by the Board of Directors on
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Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Notes to the Financial Statements |
for the Year Ended 30th September 2017 |
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1. | STATUTORY INFORMATION |
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Enterprise Adhesives & Chemicals Ltd is a
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Wales. The company's 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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Tangible fixed assets |
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Freehold 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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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. |
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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. |
Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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 |
30.9.17 | 30.9.16 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average monthly number of employees during the year was as follows: |
30.9.17 | 30.9.16 |
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Directors | 2 | 2 |
Production | 2 | 2 |
Administration | 10 | 9 |
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4. | OPERATING (LOSS)/PROFIT |
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The operating loss (2016 - operating profit) is stated after charging: |
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30.9.17 | 30.9.16 |
£ | £ |
Depreciation - owned assets |
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5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
30.9.17 | 30.9.16 |
£ | £ |
Bank interest |
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Interest on overdue taxation |
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Loan |
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Factoring interest |
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Hire purchase |
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Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2017 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1st October 2016 |
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Additions |
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At 30th September 2017 |
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DEPRECIATION |
At 1st October 2016 |
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Charge for year |
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At 30th September 2017 |
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NET BOOK VALUE |
At 30th September 2017 |
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At 30th September 2016 |
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Included in the cost or valuation of land and buildings is freehold land of £60,000 (2015 - £40000) which is not |
depreciated. |
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Cost or valuation at 30th September 2017 is represented by: |
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Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2011 | 198,000 | 118,896 | 51,373 | 102,790 | 471,059 |
Valuation in 2013 | 32,000 | - | - | - | 32,000 |
Valuation in 2016 | 34,689 | - | - | - | 34,689 |
Valuation in 2017 | 6,076 | - | - | - | 6,076 |
Cost | 638,061 | 6,476 | 16,667 | 65,409 | 726,613 |
908,826 | 125,372 | 68,040 | 168,199 | 1,270,437 |
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The Freehold Land and Building was valued on Open Market basis basis on 28th June 2016 by Rona . |
Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2017 |
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6. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST OR VALUATION |
At 1st October 2016 |
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Additions |
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At 30th September 2017 |
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DEPRECIATION |
At 1st October 2016 |
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Charge for year |
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At 30th September 2017 |
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NET BOOK VALUE |
At 30th September 2017 |
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At 30th September 2016 |
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7. | STOCKS |
30.9.17 | 30.9.16 |
£ | £ |
Raw materials |
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Finished goods | 59,500 | 30,000 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Bank loans and overdrafts |
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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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Other creditors |
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Barclays sales factoring | 346,615 | 287,819 |
Directors' current accounts | 50,000 | - |
Accruals and deferred income |
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Enterprise Adhesives & Chemicals Ltd (Registered number: 02118556) |
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Notes to the Financial Statements - continued |
for the Year Ended 30th September 2017 |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.17 | 30.9.16 |
£ | £ |
Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 340,628 | 362,523 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1st October 2016 |
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Revaluation of Property | (6,668 | ) |
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At 30th September 2017 |
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