Registered number: 11686396
GOODNEWS BIBLE CHURCH LTD DIRECTOR'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023
KLS tax & Accounting Limited Office 14C, Ilford Business Centre 316E Ilford Lane Ilford Essex IG1 2LT
STRUCTURE, GOVERNANCE AND MANAGEMENT Registered Company number 11686396 {England and Wales) Reglstered Charity number 1104286 Reglstered Offlce: 29 Valerian Way Bedfordshire LU7 4EL Worshlp Centre Alperton Community School Hall Earllng Road HAO 4PW Independent Examlner George Osei ACMA. CGMA, AFA MIPA Director KLS Tax & Accountkng Limited Office 14C Ilford Business Centre 316E Ilford Lane Ilford Essex IGI 2LT Bankers Barclays Bank I Churchill Place Canary Wharf London E145HP Trustees Mr Adedapo Oshinowo (Chainnan of Trustees) Ms Elaine Jones Mrs Maria Amadi Drlver Retired Nurse Legal Adviser
Charfty Secretary DiDesh Kowlessur Manager, Care Home STRUCTURE, GOVERNANCE AND MANAGEMENT London Central Executive Committee Apostle George Amadi Leader Pastor / Founder Postal Address.. Alperton Community School Hall Ealing R02d HAO 4PW Pastor Chika Amadi Resident Pastor& Executive Pastor Emmanuel Samuel Assistant Resident Pastor & Executive Pastor Dinesh Kowlessur PastoralTeam & Executive Pamela Ugochukwu Flnancial Secretary Pastor Dapo Oshinowo Pastoral & Executive Pastor Dave Muckoon Executive Email address.. odnews Website:
STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees and Director ofthe Charity, for the Company Act 2006, present their reportwith the charity's financial statements for 30 November 2023. The trustee5 have adopted the Accounting and reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts according to the Finallcial Reportingstandardapplicable intheUKand Republic oflreland (FRS 102) (effective I January 2015). Governlng document The charity is controlled by Its governing document and constitutes a limited company limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment ofnew trustees The trustees are trustees for the Charities act 1993 and are directors under the Companies Act 1985, and the constitution provides guidelines on Trustee recrulrment and appointment. There must be at least three at any given time and up to seven Trustees- some can be non-members ofthe charity. Goodnew5 Bible Church, London, currently has three Trustees. The Trustees holds typically at least three meetlngs a year and carrSed out iheir assignments as detailed in the charity governing documenL The Trustees, from time to time, review their effectiveness and competency, New members are provided with 5nduction. Organlzatlonal Structure The day-to-day running of the charity Is vested in the Senior Pastor and supported by the admin team as stipulated bythe governing document with the support ofthe Executive Committee. The Committee meets regularly to plan programs and receive updates on the charity's affairs. Branches and Network Goodnews Bible Church, founded by the current Senior Pastor, started in Afrlca and has its African headquarter in Abuja and three other branches in Nigeria, another one In Pakistan. The Charity also reLeDtly started a new branch in Luton, England. GBC is also linked to Home for the Needy Foundation- home to orphans and widows displaced by Boko Haram insurgents terrorlst organization in Nigeria. GBC is a registered member of Churches In Community.. Local Community Initlatives Locally, GBC works c105ely with Family Mediation Centre Ltd, which supports Children and young people and Parents in need and provides advocacy for vulnerable parents going through Child Protection and Safeguardingi5sues and parenting skills training. GBC is heavily involved in her local community by providing mentoring to those coming out of prison and those battling addiction and loneliness. Through the Common kitchen GBC anonymously supports families with groceries and toiletries Objectives and Actlvities
Aposde George and Pastor Chika Amadi at their personal times write Good Seed Daily Devotional which is free to all members; Their different published books are given to everyone visiting the church for the first time,. They also publicize the activlties of the charity through an online newspaper free (owner being their family member), Both of them lead both London and Luton branches leaving their house every Sunday at 8.30am and return home at 7pm. All their children serve in different capacities including playing keyboard free (while external players are pald during special events). Goodnews embarked on raising money to buy a place of worship but failed as it could not raise enough money for deposit. The Charity had to vacate the leased property it occupied for a secondary school Hall where it meets every Sunday because the cost of the Business Rate for both the property and car park, the monthly rent and utility bills were out of the charity reach. This decision was made in the best Interest of the charity to save fund. Goodnews embarked on ralsing money to buy a place of worship but failed as we could not raise enough money for deposlL We had to vacate the property we leased because we were paylng too much Business Rate for both the property and car park while the monthly rent and utility bills were out of the charity reach. We moved Into a school hall to mitigate the expenses and slnce then donatlons decllned due to national economic crisis and as a result we had to augment for the rent for the school in London and New Luton branch. Our Senlor Pastors regularly vlsit our overseas branches and In December 2022 attended and officiated the wedding of a Member of London branch and a member of Abuja Nigeria branch. Personal development: our Senior Pastors embark on splritU31 developments by attending Pastors conferences and seminars in the USA and NlgerSa. Apostle George. the lead Pastor pursued and obtained a degree in theology whlle Pastor Chika has undertaken Dumerous leadershlp courses includlng a LLM Internatlonal Corporate Governance with the University of Law. Leadershlp Credentials wlth Harvard University as well as Aspiring Leadership courses wlth CSAN (all personally sponsored or organizedj. The Charlty hosted lots of both spiritual, leadership and social development programs for its executive and volunteers. The Church supported many members and non-members and other ministries financially throughout the year. The Senior Pastors through their immlgration work and business has supported many members either wholly free or considerably subsidized, Bigger Picture: The charity Started 2 new branches in the period under consideration: Luton UK and Lahore. Pakistan.
The charity intends to continue to support orphanages and poor families within the UK while planting new branches starting with the Senior Pastors visiting Pakistan September 2024. The Charity intends to continue to raise funds achieve its dream of buying a property for church SeiceS and community services. Internal and external factors GBC has excellent teaching facilities for adults, youths and children, primarily children. The environment is conducive, safe, and of good standards of cleanliness. The Facillties are suitable for events and functlons. The principal fundlng source of GBC is through voluntary donatlons from members- tithes and offerings and gift aid maintained throughout the year. The resident Pastor also successfully pursued aggressive covid19-related funding from the local authority. Other sources are one-uff voluntary donations for a specific prolect.we also generate income from renting our hall and equipment to a sister church. Our business plan considers other sources of income from charges for the use of facilities and services. Reserve Policy GBC has a reserve policy to investln buyLDg a place of worship in the nearest
STRUCTURE, GOVERNANCE AND MANAGEMENT Registered Company number 11686396 (England and Wales) Registered Charlty number 1104286 Registered Office: 29 Valerlan Way Bedfordshlre LU7 4EL Worship Centre Alperton Community School Hall Earllng Road HAO 4PW Independent Examlner George Osel ACMI CGMA. AFA MIPA Director Kis Tax & Accounting Limlted Offlce 14C Ilford Business Centre 316E Ilford Lane Ilford Essex IGI 2LT Bankers Barclays Bank I Churchill Place Canary Wharf London E145HP Trustees Mr Adedapo Oshlnowo (Chairn)an of Tru5tees] Ms Elaine lones Mrs Maria Amadi Driver Retlred Nurse Legal Adviser
Charlty Secretary Dinesh Kowlessur Manager. Care Home STRUCTURE, GOVERNANCE AND MANAGEMENT London Central Executive Committee Apostle George Amadi Leader Pastor / Founder Postal Address.. Alperton Community School Hall Ealing Road HAO 4PW Pastor Chika Amadi Resident Pastor & Executive Pastor Emmanuel Samuel Assistant Resident Pastor & Executive Pastor Dinesh Kowlessur Pastoral Team & Executlve Pamela Ugochukwu Financial Secretary Pastor Dapo Oshinowo Pastoral & Executive Pastor Dave Muckoon Executive Email address.. ewsrnini Website,. intl odn rch.net
srRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees and Director of the Charity, for the Company Act 20061 present their report with the charity's financial statements for 30 November 2023. The trustees have adopted the Accounting and reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts according to the Financial ReportingSt2ndard applicable inthe UKand Republicof Ireland (FRS 102) (effective I january 2015). Governlng document The charity is controlled by its governing document and constitutes a limited company limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees The trustees are trustees for the CharSties act 1993 and are directors under the Companies Act 1985, and the constitution provides guidelines on Trustee recruitment and appointment. There must be at least three at any given time and up to seven Trustees,. some can be non-members of the charity. Goodnews Blble Church, London, currently has three Trustees. The Trustees holds typically at least three meetings a year and carried out their assignments as detaSled in ihe charity governlng doLument. The Trustees, from time to time, review their effectivpnpss and cnmpetency. New members are provided with induction. Oryanlzational Strurture The day-to-day runnSngof the charity is vested in the Senior Pastor and supported by the admin team as Stipulated by the governingdocument with the support ofthe Executive Cummittee. The Commlttee meets regularlyto plan programs and receive updates on the charity's affairs. BranLhes and Network Goodnews Bible Church, founded by the current Senior Pastor, started In Africa and has its African headquarter in Abuja and three other branche.% in Nigeria, annLher one in Paklstan. The Charlty also recently started 2 new branch in Luton, England. GBC is al.$0 linked to Home for the Needy Foundation - home to orphans and widows displaced by Boko Haram insurgents terrorist organization in Nigeria. GBC is 2 registered member of Churches in Community.. Local Community Initiatives Locally, GBC works closely with Family Mediation Centre Ltd, which supports Children and young people and Parents in need and provides advocacy for vulnerable parents going through Child Protection and Safeguarding issues and parenting skills training. GBC is heavily involved in her local community by providing mentoring to those coming out ofprison and thosc battling addiction and loneliness. Through the Common kitchen GBC anonymously supports famllles with groceries and toiletries Objectives and Activities
Apostle George and Pastor Chika Amadi at their personal times write Good Seed Dally Devotlonal which is free to all members; Their different published books are given to everyone wsiting the church for the first time: They also publicize the activities of the charity through an online newspaper free (owner being their family member), Both of them lead both London and Luton branches leaving their house every Sunday at 8.30am and return home at 7pm. All their children serve in different capacities including playing keyboard free (while external players are paid during special events). Goodnews embarked on raising money to buy a place of worship but failed as it could not raise enough money for deposit. The Charlty had to vacate the leased property It occupied for a secondary school Hall where It meets every Sunday because the cost of the Business Rate for both the property and car park, the monthly rent and utility bills were out of the charity reach. Thls declslon was made In the best interest of the charity to save fund. Goodnews embarked on raislng money to buy a place of worship but falled as we could not raise enough money for deposlL We had to vacate the property we leased because we were paying too much Business Rate for both the property and car park while the monthly rent and utility bills were out of the charity reach. We moved Into a school hall to mitigate the expenses and since then donations declined due to national economlc crlsls and as a result we had to augment for the rent for the school In London and New Luton branch. Our Senior Pastors regularly visit our overseas branches and in December 2022 attended and offlclated the wedding of a Member of London branch and a member of Abuja Nigeria branch. Personal development: our Senlor Pastor5 embark on splrltual developments by attending Pastors conferences and seminars in the USA and Nigerla. Apostle George. the lead Pastor pursued and obtained a degree in theology while Pastor Chika has undertaken numerous leadership courses including a LLM International Corporate Governance wlth the Unlverslty of Law,. Leadership Credentials wlth Harvard Unlversity as well as Asplrlng Leadership course5 with CSAN (all personally sponsored or organized]. The Charity hosted lots of both spiritual, leadership and social dcvelopment programs for its executive and volunteers. The Church supported many members and non-members and other ministries financially throu8hL7Ut the year. The Senior Pastors through thelr Immlgratlon work and business has supported many members either wholly free or considerably subsidized. Bigger Plcture: The charity started 2 new branches in the period under consideration.. Luton UK and Lahore, Pakistan.
The charity intends to continue to support orphanages and poor families within the UK whlle planting new branches starting the Senior Pastors visiting Pakistan September 2024. The Charity intends to continue to raise funds achieve its dream of buying a property for church services and communlty servlces. Internal and external factors GBC has excellent teaching Facilities for adult5, youths and children, primarily children. The environment is conducive, safe, and of good standards of cleanliness. The Facilities are suitable for events and functions. The principal funding source of GBC is through voluntary donations from members - tithes and offerings and gift aid maintalned throughout the year. The resident Pastor also successfully pursued aggressive covid19-related funding from the local authority. Other sources are one-off voluntary donations fora speciflc project.we also generate income from renting our hall and equlpment to a slster church. Our business plan considers other sources of income from charges for the use OF facilities and services. Reserve Policy GBC has a reserve poliryto invest in buyinga place ofworship in the nearest
R£wervePoli GBC h&$ a resetv¢ policy to invest in buyin8 a pla¢e of worship Jn the ttearest future. gtve that we are Ing our place of worship at the momen(. Future poliLy GBC'S iinmedjate policy 1$ to establish a stronger COiDTnunity based Mentoring 8roup for drug addiets and offcnders To expmd our CoJJJmon kilchen initiative. Adedapo oshinowo:'fNstee (Chgirn)8n) Approved by order o on IL8 bchalf Ihe board of trusiees on.... .day or 2024 aud si8ned by.."""" . MrAdedapo Oshinowo- Chairtnan of'l'rust¢es
Goodnews Bible Church Ltd Company No. 11686396 Director's Report For The Year Ended 30 November 2023
The director presents her report and the financial statements for the year ended 30 November 2023.
Directors
The director who held office during the year were as follows:
Mrs Maria Amadi
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director 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 the financial statements the director is required to:
-
select suitable accounting policies and then apply them consistently; make judgments 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 director is 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. She is 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.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mrs Maria Amadi Director
28/08/2024
Page 2
Goodnews Bible Church Ltd Independent Examiners' Report For The Year Ended 30 November 2023
I report on the accounts for the year ended 30 November 2023.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for preparing the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
•examine the accounts under Section 145 of the 2011 Act
•to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5) (b) of the 2011 Act); and
- •to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that, in any material respect, the requirements
• to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
• to prepare accounts that accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts by the Financial Reporting Standard applicable in the UK and Republic of Ireland
Signed
George Osei ACMA/CGMA, AFA MIPA
28/08/2024
KLS tax & Accounting Limited Chartered Management Accountant Office 14C, Ilford Business Centre 316E Ilford Lane Ilford Essex IG1 2LT
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Goodnews Bible Church Ltd Income and Expenditure Account For The Year Ended 30 November 2023
| Notes TURNOVER GROSS SURPLUS Administrative expenses OPERATING (DEFICIT)/SURPLUS Other interest receivable and similar income (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
2023 £ 97,446 97,446 (103,099) (5,653) 496 (5,157) |
2022 £ 118,694 |
|---|---|---|
| 118,694 (82,078) |
||
| 36,616 36 |
||
| 36,652 |
The notes on pages 6 to 7 form part of these financial statements.
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Goodnews Bible Church Ltd Balance Sheet As At 30 November 2023
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Debtors 5 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 6 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 7 NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2023 £ £ 1,083 1,083 25,714 61,300 87,014 (710) 86,304 87,387 (35,391) 51,996 51,996 51,996 |
2023 £ £ 1,083 1,083 25,714 61,300 87,014 (710) 86,304 87,387 (35,391) 51,996 51,996 51,996 |
2022 £ £ 1,238 1,238 8,100 92,206 100,306 (2,432) 97,874 99,112 (41,959) 57,153 57,153 57,153 |
2022 £ £ 1,238 1,238 8,100 92,206 100,306 (2,432) 97,874 99,112 (41,959) 57,153 57,153 57,153 |
|---|---|---|---|---|
| 1,083 86,304 |
1,238 97,874 |
|||
| 87,014 (710) |
100,306 (2,432) |
|||
| 87,387 | 99,112 | |||
| (35,391) | (41,959) | |||
| 51,996 | 57,153 | |||
| 51,996 | 57,153 | |||
| 51,996 | 57,153 |
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mrs Maria Amadi
Director
28/08/2024
The notes on pages 6 to 7 form part of these financial statements.
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Goodnews Bible Church Ltd Notes to the Financial Statements For The Year Ended 30 November 2023
1. General Information
Goodnews Bible Church Ltd is a private company, limited by guarantee, incorporated in England & Wales, registered number 11686396. The registered office is 29 Valerian Way 29 Valerian Way, Leighton Buzzard, Bedfordshire, LU7 4EL.
Small Charity Rules
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for 31 November 2022 The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 November 2022 by Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for
-
Ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
Preparing financial statements which give an accurate and fair view of the state of affairs of the charitable company at the end of each financial year and of its surplus or deficit for each financial year by 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 charitable company
These financial statements have been prepared by the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 10%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
4. Tangible Assets
| . Tangible Assets |
|
|---|---|
| Cost As at 1 December 2022 As at 30 November 2023 Depreciation As at 1 December 2022 Provided during the period As at 30 November 2023 Net Book Value As at 30 November 2023 As at 1 December 2022 |
Computer Equipment £ 1,548 |
| 1,548 | |
| 310 155 |
|
| 465 | |
| 1,083 | |
| 1,238 |
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Goodnews Bible Church Ltd Notes to the Financial Statements (continued) For The Year Ended 30 November 2023
| 5. Debtors Due within one year Trade debtors 6. Creditors: Amounts Falling Due Within One Year Trade creditors 7. Creditors: Amounts Falling Due After More Than One Year Bank loans 8. Share Capital |
2023 £ 25,714 2023 £ 710 2023 £ 35,391 |
2022 £ 8,100 |
|---|---|---|
| 2022 £ 2,432 |
||
| 2022 £ 41,959 |
||
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Goodnews Bible Church Ltd Detailed Income and Expenditure Account For The Year Ended 30 November 2023
| TURNOVER Donations and Legacies Building Fund Contribution Rental income Gift Aid Income GROSS SURPLUS Administrative Expenses Wages and salaries Employers NI Welfare Donations Travel expenses Rent Rates Light and heat Repairs and maintenance Media and Events Computer software costs Stationery Telecommunications Website costs Accountancy fees Management fees Missions Depreciation of computer equipment Sundry expenses OPERATING (DEFICIT)/SURPLUS Other interest receivable and similar income Bank interest receivable (DEFICIT)/SURPLUS FOR THE FINANCIAL YEAR |
2023 £ £ 61,647 9,056 14,000 12,743 97,446 97,446 - 840 6,536 13,705 34,658 1,801 1,148 2,146 4,588 289 468 686 200 840 - 32,728 155 2,311 (103,099) (5,653) 496 496 (5,157) |
2023 £ £ 61,647 9,056 14,000 12,743 97,446 97,446 - 840 6,536 13,705 34,658 1,801 1,148 2,146 4,588 289 468 686 200 840 - 32,728 155 2,311 (103,099) (5,653) 496 496 (5,157) |
2022 £ £ 74,922 15,938 12,600 15,234 118,694 118,694 17,476 3,360 3,605 4,505 28,913 1,209 - - - 495 413 663 748 650 2,090 16,734 155 1,062 (82,078) 36,616 36 36 36,652 |
2022 £ £ 74,922 15,938 12,600 15,234 118,694 118,694 17,476 3,360 3,605 4,505 28,913 1,209 - - - 495 413 663 748 650 2,090 16,734 155 1,062 (82,078) 36,616 36 36 36,652 |
|---|---|---|---|---|
| 97,446 97,446 (103,099) |
118,694 118,694 (82,078) |
|||
| 496 | 36 | |||
| (5,653) 496 |
36,616 36 |
|||
| (5,157) | 36,652 |
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