# **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
**(Company limited by guarantee and not having a share capital)**
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
**REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025**
The Trustees present their report and the financial statements of the charity for the year ended 31st December 2025. The trustees have adopted the provisions of the Statements of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland in October 2019.
## **Reference and administration information**
**Charity name:** Shorthorn Society of the United Kingdom of Great Britain and Ireland **Charity registration number:** 213216 **Company registration number:** 9597 **Directors/Trustees** P Armstrong - resigned 27th July 2025 I R G Collins D H Craig Mrs E A Davies - resigned 12th July 2025 S E Dixon J R Fisher G James R G Kite D Madeley Miss F Mannerings T C Moscrop A Reilly A G Rothen - resigned 19th February 2025 Mrs S H M Slade S V B Thomas D Wainwright A H J Whittle D Winnington J P Wyatt Mrs W A Young A J Lawson I L Harries - appointed 05th November 2025 J M Fisher - appointed 05th November 2025 P Harrison - appointed 24th April 2025
## **President**
S H M Slade
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025**
**Registered office and** Holme House **Operational address:** Dale Ainstable Carlisle CA4 9RH
## **Company Secretary**
Mr A Ryder
## **Independent Examiner**
W.O.R. Benoy FCA
## **Bankers**
HSBC Bank plc. Coventry
## **Activities and charitable objects**
The principal activity and charitable objects of the Society are to encourage, promote and improve the breeding of Shorthorn cattle in the United Kingdom of Great Britain and Ireland, or elsewhere, and to compile and maintain a Herd Book of recognised and pure-bred Shorthorn cattle.
## **Public benefit**
The trustees consider they have complied with their duty to have due regard to the guidance on public benefit, as published by the Charity Commission, in exercising their powers and duties.
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Achievements and performance**
Income reduced in 2025 compared to 2024, this was due to a £20,000 bequest received last year and the donation from Shorthorn Sires to the Society being £10,025 less. There was an increase in the number of registrations completed in the year which has increased herd book entry fee income. Expenditure reduced again this year, this was due to further cost savings that were identified during the year.
The Society’s subsidiary company Shorthorn Sires Ltd continues to build on it success with profits similar to the previous year of £21,774 (2024 profit of £21,382) in the last year.
Promotion of the breed continued in many formats during 2025, from Shows, advertising in the farming press, livestock market shows & sales, continuing with the posting out of the successful semen brochure along with newsletters, photographic competition, and the continued networking with industry contacts.
## **Financial Review**
The surplus for the year amounted to £1,100. This amount has increased reserves brought forward leaving total unrestricted reserves of £359,518 at the end of the year. The Trustees consider the results to be satisfactory
## **Reserves Policy**
The Society aims to hold financial reserves that cover up to one years outgoing resources. At 31 December 2025 the Society held free reserves of £352,315, representing approximately three years outgoing resources.
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Structure, Governance and Management**
## **Governing document**
The society is a charitable company limited by guarantee and does not have a share capital. The society was incorporated on 15 June 1875 and registered as a charity on 8 January 1963. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed by its Articles of Association.
## **Recruitment and appointment of the Council**
The directors of the company are also charity trustees for the purpose of charity law under the company's Articles are known as members of the Council.
Each year some council members retire by rotation and are eligible for re-election. They are elected by a ballot of those members entitled to vote.
## **Trustees induction and training**
New Trustees are briefed by the President on their obligations as Council members and the future plans and objectives of the Society. Minutes of previous meetings are also available for new Council Members upon request.
## **Risk review**
The trustees have conducted a review of the major risks to which the charity is exposed and have established systems to mitigate these risk.
Every effort is made to ensure that all risks are kept to minimum. The Council consider that insurance cover and reserves are adequate to ensure the continued operation of the Society in the event of the occurrence of any unexpected incident.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by the Trustees on 22/04/2026, and signed on its behalf by:
S Thomas, Director/ Trustee
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## **INDEPENDENT EXAMINER REPORT TO THE TRUSTEES OF SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2025, which are set out on pages 6 to 15.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of the company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('The 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 act.
## **Independent examiner's statement**
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- **1** accounting records were not kept in respect of the company as required by section section 386 of the 2006 Act; or
- **2** the accounts do not accord with those records; or
- **3** the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
- **4** the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
W O R Benoy BSc FCA Montacs International House Kingsfield Court Chester Business Park Chester CH4 9RF
Dated 15/06/2026
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Notes**
**Income and endowments from:**
Donations and legacies
**6.1**
Charitable activities
**6.2**
Investments
**6.3**
**Total**
**Expenditure on:**
Raising funds
**7.1**
Charitable activities
**7.2**
**Total**
Net (losses)/gains on investments
**Net income/movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**12**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**£**
**£**
**£**
**22,893**
**-**
22,893
**71,549**
**-**
71,549
**10,053**
**-**
10,053
**104,495**
**-**
104,495
**87,124**
**-**
87,124
**27,911**
**-**
27,911
**115,035**
**-**
115,035
**11,640**
**-**
11,640
**1,100**
**-**
1,100
**358,418**
**13,527**
371,945
**359,518**
**13,527**
373,045
**2025**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Total funds**
**£**
**£**
**£**
53,879
-
53,879
62,799
-
62,799
9,485
-
9,485
126,163
-
126,163
89,004
-
89,004
34,042
-
34,042
123,046
-
123,046
2,012
**-**
2,012
5,129
-
5,129
353,289
13,527
366,816
358,418
13,527
371,945
**2024**|
|---|---|---|
6
## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Notes**
Intangible assets
**10**
Tangible assets
**9**
Investments
**11**
**Total Fixed assets**
**Current assets:**
Stocks
Debtors
**12**
Charities deposits
Cash at bank and in hand
**Total current assets**
**Liabilities:**
Creditors: Amounts falling due within one year
**13**
**Net current assets or liabilities**
**Total assets less current liabilities**
Creditors: Amounts falling due after more than one year
**Total net asset or liabilities**
**The funds of the charity:**
Restricted income funds
**14**
Unrestricted funds
**14**
**Total charity funds**|**2025**
**£**
6,503
700
251,342
258,545
759
66,046
10,317
56,543
133,664
19,164
114,500
373,045
**-**
**373,045**
13,527
359,518
**373,045**|**2024**
**£**
5
1,087
240,119
241,211
-
80,794
9,894
71,889
162,577
31,843
130,733
371,945
**-**
**371,945**
13,527
358,418
**371,945**|
|---|---|---|
The charitable company is entitled to exemption for audit under section 477 of the Companies Act 2006 for the year ended 31st December 2025.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors and trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the provisions applicable to small companies' subject to the small companies' regime and in accordance with FRS 102 SORP.
The financial statements were approved by the Council on and were signed on its behalf by:
S Thomas, Director/Trustee 22/04/2026
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **1. General information and basis of preparation**
The Shorthorn Society of the United Kingdom of Great Britain and Ireland is a private company, limited by guarantee, registered in England and Wales. The address of the registered office is given in the charity information on page 2 of these financial statements.
The nature of the charity's operations and principal activities are to encourage, promote and improve the breeding of Shorthorn cattle in the United Kingdom of Great Britain and Ireland, or elsewhere and to compile and maintain a Herd book of recognised and pure bred Shorthorn cattle.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling (£) which is the functional currency of the charity and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2. Accounting policies**
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds can only be used in accordance with the restriction imposed upon them.
## **Income recognition**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
Investment income is earned through holding assets of investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent is recognised as the charity's right to receive payment is established.
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (Cont'd)**
## **Gift aid payments**
Gift aid payments are recognised as distributions to owners from retained earnings with there being no legal obligation to make payments.
The accounting policy for gift aid payments also results in the company recognising a taxation charge on it's profits for the year. However, the application of the exception under paragraph 29.14A of FRS 102 provides relief in respect of the accounting for the tax charge. This results in an overall nil impact on the charge for tax in the Income Statement. This exception is only applicable as it is probable that the gift aid payment will be made by the company to the parent charity within 9 months of the reporting date.
## **Expenditure recognition**
All expenditure is accounted for on accrual basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
## **Intangible fixed assets**
The intangible fixed asset compromises the copyright of the Coates Herd Book and website costs and is stated at cost.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Leasehold buildings Written off in 2020 Equipment 10% - 20% straight line
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains/(losses) on investments' in the SOFA if the shares are publicly traded or their value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **2. Accounting policies (Cont'd)**
## **Stocks**
Stock has been valued at the lower of cost and net realisable value.
## **Debtors and creditors receivable/payable within one year**
Debtors and creditors stated with no interest rate and receivable or payable with one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Operating leases**
Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease.
## **Foreign currency**
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in foreign currency at the balance sheet date are translated using the closing rate.
## **Related company and consolidation**
The company owns 100% of the issued ordinary share capital of Shorthorn Sires UK Limited (incorporated in the United Kingdom). The company and its subsidiary compromise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.
|**Income**
**pendent Examiners Remuneration**
Independent Examiners Remuneration
Net income is stated after charging
Depreciation of tangible fixed assets
Operating lease costs|2025
**£**
387
-
625|2024
£
917
290
550|
|---|---|---|
## **3. Net Income**
## **4. Independent Examiners Remuneration**
## **5. Trustee remuneration and other benefits**
No trustees' remuneration or other benefits were paid during the year.
- - Reimbursed travel expenses
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **6. Income**
|**6.1 Donations and legacies**
**6.2 Charitable activities**
Member subscriptions
Herd book entry fees
Classification fees
Other fees
Coates' herd book
Shorthorn Journal
Merchandise
Shows and Events
Other Shows Income
Sundry Income
Management Fees
**6.3 Investment Income**
Interest on deposits
Dividend Income
**Total Income**|**2025**
**Unrestricted**
**funds**
**£**
**22,893**
12,385
22,697
7,096
145
140
4,545
110
810
1,900
6,721
15,000
**71,549**
423
9,630
**10,053**
**104,495**|**2024**
**Unrestricted**
**funds**
**£**
**53,879**
11,779
19,016
9,560
177
-
5,109
250
540
-
1,368
15,000
**62,799**
482
9,002
**9,485**
**126,163**|
|---|---|---|
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **7.Expenses**
|**7.1 Raising funds**
Accountancy Fees
Bad debt
Breed secretary's fees and expenses
Management Fees - PLS
Social media fees and expenses
Rent and rates
Insurance
Telephone and postage
Printing and stationery
Computer and Software
Bank charges
Travelling expenses
Sundry expenses
Lease of equipment
Council meetings expenses
Independent examination
Legal and professional fees
Depreciation
**7.2 Charitable activities**
Shorthorn journal
Shows and events
Classifications
Merchandise
Publicity
Breed development
Rosettes Purchases
Misc Purchases
**Total Expenditure**|**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
(150)
-
580
11,440
-
45,095
-
5,232
-
667
-
2,433
-
3,540
-
1,159
-
1,999
-
1,593
-
242
-
1,433
-
-
-
11,475
-
-
-
-
-
387
-
**87,124**
**-**
6,500
-
8,837
-
7,397
-
158
-
2,508
-
1,845
-
103
-
563
-
**27,911**
**-**
**115,035**
**-**
**2025**|**Unrestricted**
**funds**
**Restricted**
**funds**
**£**
**£**
1,139
-
-
11,660
-
45,095
-
3,894
-
8,050
-
2,664
-
3,575
-
1,639
-
2,948
-
974
-
545
-
272
-
290
-
3,932
-
1,375
-
34
-
917
-
**89,004**
**-**
7,100
-
9,160
-
9,633
-
86
-
6,118
-
1,396
-
23
-
526
-
**34,042**
**-**
**123,046**
**-**
**2024**|
|---|---|---|
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **8. Staff numbers and costs**
|The average number of persons employed by the
Administration
Staff costs were:
Salaries and subcontract
Employee pension
No employee received emoluments of more than £60,000.
**9. Tangible fixed assets**
**Cost**
At 1 January 2025
Additions
Disposals
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge in the year
Disposals
At 31 December 2025
**Net Book value**
At 31 December 2024
At 31 December 2025
**10. Intangible fixed assets**
Copyright at cost - Coates' Herd Book
Website costs
Society during the year was:|**2025**
-
£
-
-
-
**Equipment**
**£**
9,781
-
-
9,781
8,694
387
-
9,081
1,087
700
5
6,498
6,503|**2024**
-
£
-
-
-
**Total**
**£**
9,781
-
-
9,781
8,694
387
-
9,081
1,087
700
5
6,498
6,503|
|---|---|---|
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **11. Investments**
|Listed investments held 1 January 2025
Purchases at cost
Sales proceeds
Revaluation
Listed investments held 31 December 2025
(all quoted on a recognised stock exchange)
Shares in group company
**12.Debtors**
Trade Debtors
Prepayments
Amounts owed by group company
Loan - SSUK
**13.Creditors**
Trade Creditors
Sundry Creditors
Accruals & Deferred Income
VAT Liability|**2025**
**£**
239,119
105,532
(105,950)
11,641
250,342
1,000
251,342
5,700
12,132
28,215
20,000
66,046
4,242
11,849
1,800
1,273
19,164|**2024**
**£**
237,355
13,194
(13,442)
2,012
239,119
1,000
240,119
16,404
13,852
30,538
20,000
80,794
11,833
10,454
6,183
3,373
31,843|
|---|---|---|
## **14. Funds**
Total funds of £373,045 consists of £359,518 unrestricted funds and £13,527 restricted funds.
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## **SHORTHORN SOCIETY OF THE UNITED KINGDOM OF GREAT BRITAIN AND IRELAND**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **15. Related company and consolidation**
The Society owns 100% of the issued share capital of Shorthorn Sires Limited, formerly Red Cattle Genetics (Stoneleigh) Limited (incorporated in the United Kingdom) which sells Shorthorn semen. Its trading results for the year, as extracted from the unaudited accounts are as follows:
|Turnover
Cost of sales
Gross profit
Administrative expenses
Interest receivable
Profit/Loss for the Financial Year
Gift Aid donation
Retained income
Reserves 1 January 2025
Reserves 31 December 2025|**2025**
**£**
99,772
(56,648)
43,124
(21,350)
21,774
-
21,774
(21,382)
392
30,603
30,995|**2024**
**£**
100,516
(57,385)
43,131
(21,749)
21,382
-
21,382
(31,407)
(10,025)
40,628
30,603|
|---|---|---|
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## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025**
|**Note**
**Income**
**Expenditure**
Net gains/(losses) on investments
**Net income/movement in funds**
**Fund balances at 1 January 2025**
**Fund balances at 31 December 2025**|**Unrestricted**
**funds**
**£**
**2025**
104,495
115,035
(10,540)
11,640
1,100
358,418
359,518|**Restricted**
**funds**
**£**
**2025**
-
-
-
-
-
13,527
13,527|**Unrestricted**
**funds**
**£**
**2024**
126,163
123,046
3,117
2,012
5,129
353,289
358,419|**Restricted**
**funds**|
|---|---|---|---|---|
|||||**£**|
|||||**2024**|
|||||-
-
-
-
-
13,527
13,527|
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