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2022-12-31-accounts

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Registered Charity 277881

The Therfield Regulation Trust Report and Financial Statements For The Year Ended 31 December 2022

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The Therfield Regulation Trust Contents Page For the Year Ended 31 December 2022

Legal and Administrative Details 3

Trustees’ Annual Report 4 - 10

Independent Examiner’s Report 11

Receipts and Payments Account 12

Statement of Assets and Liabilities 13

Notes to the Financial Statements 14 – 17

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The Therfield Regulation Trust Legal & Administrative Details For the Year Ended 31 December 2022

Status The organisation is a charitable Trust

Charity number 277881

Operational address c/o Royston Golf Club Baldock Royston Herts SG8 5BG

Trustees Nominee of the Lords of the Manor John King nominee (term until replaced)

Special Drainage District of Royston Representatives Nicholas Keep (term until Feb 2024) Clare Swarbrick (term until Feb 2023)

Stintholder Representatives

Robert Law (term until Feb 2025 -re-elected 2022) Ben Harrop (term until Feb 2023) Colin Smith (term until Feb 2024)

Not in post / declines to serve Rector of Therfield

Special Drainage District of Royston Representative Clive Hall (Conservator term until Feb 2025 re-elected 2022)

Bankers Barclays Bank

Solicitors Greenwoods GRM Compass House Vision Park Histon Cambridge CB24 9AD

Independent Examiners Peters Elworthy & Moore Chartered Accountants Statutory House Salisbury House Station Road

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Cambridge CB1 2LA

The Therfield Regulation Trust

Report of the Trustees

For the year ended 31 December 2022.

The Trustees of Therfield Regulation Trust present their report and the financial statements for the year ended 31 December 2022.

Legal and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the trust deed and the Statement of Recommended Practice - Accounting and Reporting by Charities.

Structure, Governance and Management

The Therfield Regulation Trust became registered with the Charity Commission on 17 October 1979 with number 277881. The Charity was established as a charitable continuation of The Therfield Regulation, which was an arrangement established under an Act of Parliament in 1888 and a subsequent "Award" in 1893, and which had given the Conservators responsibility for managing the Heath and Greens. The appointment, as specified in the Trust Deed, of Trustees of the Therfield Regulation Trust is by vote of at least five Conservators At present the practice is that all Conservators who are willing are Trustees. The appointment of Conservators is specified in the Award of 1893. Three Conservators are elected by the Stintholders (those entitled to graze the Heath) and three by the local government electors resident within the borders of the Special Drainage District of Royston. For both these groups one conservator is elected each February for a three year term. One Conservator is appointed by the Lord of the Manor of Therfield. As the conservators are the only people owning land in the Manor of Therfield now this conservator is elected by the conservators. The final Conservator is the Rector of Therfield (currently vacant).

Objectives & Activities

The main objectives of the charity in accordance with the 1888 Act are to provide and maintain access to a recreation ground for the inhabitants of Therfield, Royston and the neighbourhood. The Charity continues to successfully meet its objectives, providing access to the Heath for visitors and through significant investment in scrub clearance and grass

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cutting to maintain the heath and greens for use by both the public and amateur sports clubs. During the Covid-19 pandemic many people have continued to be able to enjoy the Heath but the substantial increase in use has put pressure on infrastructure and maintenance. Ongoing management and maintenance costs are funded by the letting of sports facilities to third party organisations and amateur sports clubs and we have had to increase spending on maintenance as planned works were severely disrupted due to Covid, and on infrastructure to ensure the Heath remains a safe environment for all users.

Public Benefit

The Conservators have referred to the Charity Commission's general guidance on public benefit to ensure compliance when reviewing the charity's aims and objectives and in planning its future activities. The Charity's aims and objectives fall within the various descriptions of charitable purposes in the Charities Act 2011. These purposes are for public access to the common and public recreation thereon and hold the land in perpetuity.

Public benefit is readily demonstrated in the delivery of a) the intended outcomes of the Charity's charitable purposes listed above for the general public, all of whom can benefit and b) the financial and other support which these outcomes can achieve, among the public at large or significant relevant sections of the public without unreasonable restriction.

Achievements and Performance

2022 continued the trend in being another busy year for the Heath and Greens. Visitor numbers continue to rise. It is great that so many want to connect with nature and the Heath for physical and mental wellbeing. However, this also puts continued pressure on infrastructure and maintenance.

Our focus during the year has been:

As part of the agreed Habitat Management plan, we made a concerted effort to increase the cut and collect regime across the site to preserve the chalk grassland from scrub encroachment and enrichment. The main reason for the SSSI citation is the chalk grassland habitat and the specific grasses, flowers and insects associated with it.

The Ranger intern who joined us in October has successfully reintroduced volunteer parties that have been clearing scrub across the site. We now have almost 30 regular volunteers

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already and the ranger also has put on events and activities to engage with the general public.

We continued conservation grazing on the Heath this year as it is the best way to protect the wildflowers and grasses we have in the special areas on the heath. Impartial observations were that the pasque flower bloom was the best for decades, and is the largest and most genetically diverse population in the UK.

Following the report from an expert arboriculturist, essential tree maintenance took place across the Heath and Greens, with a plan for subsequent work prioritised. Log piles were created, and wildlife poles were left to create further habitat type in the woodland areas. New trees were planted as part of the Queens Green Canopy project with Friends of Therfield Heath.

The Conservators worked with North Herts District Council and Natural England to formulate a Heath Mitigation Strategy which formed part of The North Hertfordshire Local Plan 20112031. Unfortunately, we are unable to fully support the resultant strategy. Recreational pressure caused by additional housing inevitably requires the provision of alternative recreation sites. These mitigation sites might be open green space for walking, dog walking and running, or sports pitches and other facilities. NHDC's strategy does not commit to any additional recreation sites before 2032 and our view is that this is too little. The successful local sports clubs desperately need their own pitches and investments by NHDC and developers could provide these and mitigate recreational pressure on the Heath.

To mark the Queen’s Platinum Jubilee, repairs to the Victoria Memorial were commenced, but due to contractor issues have been delayed and will be completed in 2023.

After the successful removal of the litter bins across the site, we have also removed some dog bins due to collection and siting issues.

Sports, clubs and recreation continue to thrive with participation equal to or exceeding prepandemic levels. Supporting all our tenants to understand their needs and challenges and to ensure they are compliant with Commons regulations has been a key focus.

Delivering the Trust's purposes mean that on occasions valuable organisational focus, money and volunteer time are taken up protecting the common's ownership for future generations to come. This vital work goes unnoticed by the vast majority of people enjoying their right to recreation on the Heath and Greens. In 2022 this workload was far higher than in recent years with some significant challenges. Led by our Clerk, we continue to increase our compliance with commons, SSSI and Nature Reserve legislation.

Plans for the Future

As ever there are lots of views and perspectives and managing them all can be difficult. The Conservators believe we should take an ambitious and proactive approach, seeking to shift perceptions about Therfield Heath so that the local communities learn about and actively protect the common and the SSSI.

Habitat Management plans for the SSSI and the remaining heath and greens have been substantively agreed with Natural England and Therfield Parish Council. They identify priorities which will be our focus in 2023 and beyond. In Summer 2023 surveying of the flora and fauna will commence and we will scrape some areas that have been enriched by the

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presence of sheep. We are continuing to investigate achieving a "Conservation Right" which will allow us to utilise conservation grazing techniques more appropriate to the current status of the Heath

We are also considering • Infrastructure

including:

We continue to explore the longer term strategy for sports infrastructure across the town and surrounding areas. During the pandemic many schools and other indoor leisure facilities were shut and we have tried to accommodate extra requests where possible but a longerterm plan is essential which would alleviate pressure on the sports facilities on the heath and increase provision in line with housing and population growth.

Remuneration of Trustees

The Conservators receive no remuneration but may be reimbursed for expenses incurred on conducting the Charity's business.

Financial Review

The Trustees hold the land of Therfield Heath and Greens in accordance with the directions of the Conservators.

Income from the land is held as General Purpose funds and expenditure from these funds is directed by the Conservators.

Expenditure in the year to 31 December 2022 was £116,120 and income was £138,692 resulting in an overall deficit/surplus of £21,905 after VAT movements.

As a result, the reserves increased from £135,941 as at 31 December 2021 to £157,846 as at 31 December 2022.

This now exceeds the planned general reserve of one year's rental income (~£90,000). We have identified that we are likely to need a sum exceeding £100,000 in the next 3-10 years to

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replace the roof of the Heath Centre. We plan to better define this and other maintenance costs in the next year, but need at least the current excess to afford these costs. Steps will be taken to maintain expenditure in 2023 and complete the scheduled maintenance. We also intend to seek new sources of income to complement the s106 monies.

S106 funds cover employment and associated costs of the recently appointed Ranger Intern and Head of Conservation/Warden. There is a lag between expenditure and reclaiming the S106 money. We spent £37,107 on s106 funded work and received £36,309 although over half of that related to expenditure in the previous year.

The trustees' income comes from the three main tenants The Golf Club, The Heath Sports Centre and John Jenkins Racing.

Apart from extraordinary items, the intention is that expenditure will not exceed income in any year.

General reserves are required for three main purposes:

We have identified that we will need to replace the roof of the Heath Sports Club in the foreseeable future. In 2023 we will obtain a cost and a better estimate of when this might be needed. The roof replacement will almost certainly exceed the balance of fund above the General Reserve. We aim not to drop below £30k above the General Reserve and to increase our working balance to at least £60k above the General Reserve by the end of 2023 so that we will be in a position to carry outh the roof work on a 3-8 year time scale.

Risk management and Principal risks

Major risks to which the charity is exposed have been reviewed and systems established to mitigate those risks. Responsibility for management of risk is overseen by the Conservators. They regularly consider the risks (including financial and reputational risks) which may affect the activities of the organisation, assesses the impact of those risks and ensures that appropriate controls are in place as follows:

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The key risks are below:

he keyrisks are below:
Risk Impact Mitigation
Loss of income from tenants and
users of the Heath		 Trust struggles to
maintain activity, or
ceases it		 Monitor funding closely. Especially in light of
economic instability Trust’s ability to deliver its
charitable remit. Continue to explore
sustainable funding sources.. Non-rental
income significantly increased in 2022. Keep in
close touch with tenants via regular meetings
and gauge likely impact early.
Ability to allow recreation
becomes constrained by
pressure of use or changes in
external environment		 Forced to introduce
restraints on recreation
on the Heath.		 Work with tenants, visitors, users and
stakeholders to spread impact of activities.
Regularly review maintenance schedules
including litter plans. Review guidance and
information shared with visitors and users.on
the nature of common land. Engage with
stakeholders and councils to encourage other
provision to reducepressure on Heath.
Site loses favourable recovering
status resulting in loss of SSSI
status		 Condition of The Heath
(SSSI), deteriorates
resulting in loss of
nature and habitat for
wildlife		 Engage and inform visitors about the
uniqueness of the Heath’s ecology and history
Habitat Management Plan developed, and
agreed with Natural England, Shared with
tenants, general public/visitors and
stakeholders. Priorities and forward planning
sets clarity about strategic direction to ensure
we have appropriate resource and capabilities
Increased maintenance carried out in 2022.
Ranger appointed.

Statement of Trustees’ responsibilities

The Conservators are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees (i.e. the Conservators) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Conservators are required to:

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Docusign Envelope ID". C2E998BO-800846E1-93884C6589BCE446 prepare the fin8ncial statements on the going con￿rn basis unless il is inappropria18 lo presume that the charity will continue in operation. The Conservators are responsible for keeping proper accounting re￿rdS that disclose with reasonable accuracy at any time the financial pN)sition of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartties. In so far as the Conservators are aware.. there is no relevant information of which the charity's independent examiners are unaware,. and the Conservators have taken all steps that they ought to have taken to make themselves aware of any rel8vant information and to establish that the independent examiners are aware of that inforniation. The Conservators are responsible for the maintenance and integrity of the corporate and financial information inciuded on the charity's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdicts'ons. Approved by the Conservators, and signed on their behalf by N Keep- Chair of The Therfield Regulalion Trust 10

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The Therfield Regulation Trust Independent Examiner’s Report For the Year Ended 31 December 2022

I report on the accounts of the Charity for the year ended 31 December 2022 which are set out on pages 12 to 17.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Charity’s trustees are responsible for the preparation of the accounts. The Charity’s trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with 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 prepared 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 statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention:

M Hewett FCA DChA For and on behalf of PETERS, ELWORTHY & MOORE

Chartered Accountants Cambridge Date: 10 March 2023

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The Therfield Regulation Trust

Receipts and Payments Account For the year to 31 December 2022

----- Start of picture text -----
2022 2022 2022 2021 2021 2021
Restricted Unrestricted Total Restricted Unrestricted Total
Note £ £ £ £ £ £
Receipts
Investment Income 3 - 99,521 99,521 - 89,560 89,560
Other Incoming Resources 3, 7 36,309 2,862 39,171 2,296 8,561 10,857
Total Receipts for period 36,309 102,383 138,692 2,296 95,824 98,120
Payments
Costs Incurred 4, 7 37,127 78,993 116,120 12,490 54,656 67,146
Total Payments for period 37,127 78,993 116,120 12,490 54,656 67,146
Net VAT movements for period 9 - (667) (667) - (6,206) (6,206)
Rounding - - - - 0 0
Net Receipts being Net Movement in Funds (817) 22,722 21,905 (10,194) 34,963 24,769
-
Funds brought forward (10,194) 146,134 135,941 111,171 111,171
Cash funds at period end 7 (11,011) 168,857 157,846 (10,194) 146,134 135,941
----- End of picture text -----

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Docusign EnvÈlopÈ ID". C2E998BO-B00846E1-93884C6589BCE446 The Thgrfl¢ld Regulation Trust TiifAHEtD H￿l"H Statement of Assets and Llabillties For the year to 31 December 2022 2022 2022 Restricted Unrestricted 2022 Totsl 2021 2021 Restricted Unrestrlcted 2021 Totsl Note Monetary Assets Barclays Payments Account Barclays Public Account Total Monetsry Assets Iii,oiii 167,857 156,846 1,000 157,846 110,1941 144,534 1.600 146,134 134,341 1,600 135,941 lii.oiii 168.857 110,194) Provlslon for Llabllltles Rents & Income received in advance VAT already due Future Independent Examiners Fee Unpaid Staff Cost5 Uninvoiced l Unpaid Invoices Totsl Provlslons for Llabllltles 913 12.978 3,154 1.500 13,891 3,154 1,500 7,196 3,821 1,400 81 7,196 3,821 1,4 81 13,119 30,751 13,119 31.664 913 12,498 12,498 Other Monetary Assets Income due but not received in period Client Account at Greenwoods LLP Credit Balance at HMRC IPAYEI Insurance pre-payment Total Other Monetary Assets 7,10 11,924 10,559 225 22,483 225 8,295 11,964 20,260 894 3.278 14,957 3,278 26.881 11,924 8,295 11,964 20.260 Non-monetary Assets Therfield Heath and Greens The Heath Café Building li Approved by the Conservators and si8ne(l on their behalf by: Date- ' N-,4 ZOLJ Nicholas Keep- Chair 13

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The Therfield Regulation Trust

Notes to the Financial Statements For the year to 31 December 2022

1. Accounting policies

2. Trustee's Expenses

Expenses were claimed by the following Trustees during the year ended 31 December 2022:

Person Date Amount Description Clare Swarbrick 19/10 £160.98 Mobile phone for Ranger (member of staff)

In 2021 no Trustees received reimbursement of travel or accommodation expenses during the period. Details of the expenses claimed are in the 2021 accounts.

Incoming Resources
Investment Income
Rental Income
Other Incoming Resources
Other Income
Total Income		 Restricted
Unrestricted
2022
Total
Restricted
Unrestricted
2021
Total
£
£
£
£
£
£
-
99,521
99,521
-
89,560
89,560
36,309
2,862
39,171
2,296
6,265
8,561
36,309
102,383
138,692
2,296
95,824
98,120

3. Incoming Resources

The 2022 recurring rental arrangements with their end of year values (excluding VAT) are:

Commercial Organisations Heath Café (post rent review June 22) £ 46,884
Golf Club (rising to 26k in 2023) £ 24,000
JR Jenkins Racing (rent review Aug 22) £ 15,920
Wayleaves (UK Power Networks) £ 128
Mutuals, Associations and Clubs Youth Football £ 1,000
Rugby £ 700
TRAKSA £ 500
Tennis £ 262
Archery £ 104

In addition there are casual rental arrangements and events which are not recurring or that vary year to year. In

Commercial Services Parkfit £ 600
Christmas Trees £ 300
Commercial Events Circus £ 1,100

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The Therfield Regulation Trust

Notes to the Financial Statements For the year to 31 December 2022

4. Charitable expenditure

a) By Category
Administration Costs
Elections, Public Mtgs & Comms
inc. Elections
inc. Stakeholder Comms
External Examination (Accounts)
Tech, Software & Consumables
inc. Staff Tech
inc. Software
Insurance
Fees, Surcharges and Interest
Subscriptions
Other Admin Costs (e.g. EIR, HMLR)
Administration Costs Totals
Staff Costs
Full Costs of Staff
Other HR Costs (e.g. Recruitment)
inc. Recruitment
inc. Equipment
Travel
Volunteer Costs & Hospitality
inc Hospitality
S106 - Staff Expense Uplift (15%)
Staff Costs Totals
Heath and Greens Maintenance
Plans, Monitoring & Evaluation
Scrub / Weeds
Grassland
Pitches & Maintained Grass Areas
Trees
Car Parks, Tracks, Surfaced Paths
Waste
Hedges, Fences and Ditches
Access, Signage & Security
Heath and Greens Maintenance Totals
Projects
Access & Trespass
Projects (Small Projects)
Project Totals
Professional Services
Accountancy
Legal
Property
Grand Totals		 Restricted
Unrestricted
2022 Total
£
£
£
-
402
402
-
-
-
-
-
-
-
1,400
1,400
-
1,652
1,652
-
-
-
-
-
-
-
3,959
3,959
-
-
-
-
45
45
-
20
20
-
7,478
7,478
19,801
12,881
32,682
-
1,155
1,155
-
-
-
-
-
-
-
166
166
-
7
7
-
-
-
3,299
(3,299)
-
23,100
10,910
34,010
295
295
960
960
22,470
22,470
955
2,393
3,348
11,950
11,950
7,395
7,395
2,718
2,718
250
250
3,291
268
3,559
11,641
41,304
52,945
19,302
19,302
2,385
-
2,385
2,385
19,302
21,687
37,127
78,993
116,120
Now included where the services were
delivered e.g. a Project or an Admin Cost.
Totals by profession noted below.		 2021 Total
£
-
455
265
-
904
552
4,549
335
45
-
7,104
25,127
-
129
307
-
-
50
-
25,613
-
-
-
-
-
-
-
-
-
23,038
-
2,170
2,170
4,670
2,378
2,172
67,146

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The Therfield Regulation Trust

Notes to the Financial Statements For the year to 31 December 2022

5. Professional Fees

Professional Fees can occur in projects and routine activities. This note draws those totals together by professional service.

----- Start of picture text -----
|||| |---|---|---| |2022|2021| |£|£| |Accountancy|1,400|4,670| |Legal|18,460|2,378| |Bailiffs|842|-| |-| |Property|2,172|

----- End of picture text -----

6. Section 106 Income

7. Restricted income and expenditure

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |a)|2021 Restricted Funds|Balance B/F|Income|Expenditure|Balance| |£|£|£|£| |-|-| |NHDC - Bike Rack Project|1,596|1,596| |HCC - Bollards Project|-|700|287|413| |-|-| |S106 Ivy Farm 3 - Full Staff Costs|9,069|(9,069)| |-|-| |S106 Ivy Farm 3 - Associated Staff Expenditure|1,538|(1,538)| |2021 Totals|-|2,296|12,490|(10,194)| |b)|2022 Restricted Funds|Balance B/F|Income|Expenditure|Balance| |£|£|£|£| |HCC - Bollards Project|413|-|-|413| |Mayor's Fund - Victoria Memorial|-|500|-|500| |FOTH - Sun Hill Bench|-|339|339|0| |FOTH - Trees|-|422|422|0| |Racher Trust - Car Parks 2022|-|7,395|7,395|-| |Rotary - Kite Festival 2022|-|955|955|-| |HCC - Queen's Green Canopy|50|50|-| |S106 Ivy Farm 3 - Full Staff Costs|(9,069)|22,732|19,801|(6,138)| |-|-| |S106 Ivy Farm 3 - Associated Staff Expenditure|(1,538)|1,538| |-| |S106 Ivy Farm 3 - 15% Uplift covering Staff Expenditure|2,378|3,299|(921)| |-| |-|-| |S106 Ivy Farm 3 - Publicity and Signage|4,866|(4,866)| |2022 Totals|(10,194)|36,309|37,127|(11,011)|

----- End of picture text -----

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The Therfield Regulation Trust

Notes to the Financial Statements For the year to 31 December 2022

8. Rents received in advance and Income due but not received in period

c) The remaining income due but not received relates to an Insurance charge.

9. VAT

10. Un- Invoiced and Unpaid invoices

a) There were no unpaid invoices at the close of 2022. As such, site maintenance work, project work and other expenses incurred in December, and quarterly or annual invoices raised in arrears make up the whole figure. The figure includes the full estimate of £4,500 for the memorial. This is a result of the supplier working on the memorial becoming uncontactable. It has not been possible to obtain an invoice or make payment for the work completed to date.

11. Non-Monetary Assets

12. Grants Awarded

13. Related Party Transactions

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