Docusign EnvelopÈ ID." OC704E2sED4943-BS98-65Fo$BoB228A THE RAGHUVANSHI CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2024 Page 1
Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 28TH FEBRUARY 2024
Introduction
The Trustees present their Annual Report along with the financial statements of the Charity for the year ended 28th February 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 6 to the accounts and comply with its trust deed, the Charities Act 2011 and the 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) issued 16 July 2014.
Aims and objectives
The objects of the Charity are firstly to promote the spiritual teachings and the maintenance of the doctrines and of the observances that serve to promote and manifest them of the religion of the Indian Sub-Continent as practised by members of the Lohana Community of North and North West London subscribing to such religion, secondly to advance education and thirdly to provide recreational facilities for such members of the Lohana Community in the interest of social welfare with the object of improving conditions of life for such persons having need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances.
Constitution
The Charity was established by declaration of a Charitable Trust Deed on 5[th] November 1983 as amended from time to time. It is registered as a Charity in England and Wales with registration number 288272.
Contact address
The main address for contact is:Raghuvanshi Charitable Trust Centre Headstone Lane (opp Headstone Lane British Rail Station) Harrow Middlesex HA2 6NG
Trustees and officers
During the period the Trustees and other officers were:-
Chairperson Sailesh Mehta Secretary Rajeshree Sodha Treasurer Kamalesh H. Kantaria Administrator Ravindra Tanna Other Trustees Silpa Gadhia Neil C. Morjaria Bhargwdip D. Buddhdev Meena Jasani (Ex-officio - LCNL President) Bharat Ghelani (LCNL Representative) Jeet Rughani (LCNL Representative)
Independent Examiner
Shaileen Shah, CTA, FCCA Price Mann Limited Magnolia House, Spring Villa Park, 11 Spring Villa Road, Edgware, HA8 7EB.
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST TRUSTEES’ ANNUAL REPORT (CONT.) FOR THE YEAR ENDED 28TH FEBRUARY 2024
Reserves policy
The Trust’s reserve policy is to maintain a sufficient level of reserves to enable normal operating activities to continue over a period of up to 12 months should a shortfall in income occur and to take account of potential risks and contingencies which may arise from time to time.
Investment policy and performance
The Trust does not currently hold any investments. The operating income /(loss) for the year was (£3,248) (2023 – £18,203). The accumulated surplus carried forward is £584,360 (2023 - £587,607).
Public benefit
The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to all guidance published by the Charity Commission.
Trustee’s responsibilities
The trustee is 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 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 trustee is required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material
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departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to
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presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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 irregularities.
By order of the Board
Sailesh Mehta Chairperson
Date: 23-Oct-24
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF RAGHUVANSHI CHARITABLE TRUST FOR THE YEAR ENDED 28TH FEBRUARY 2024
I report on the accounts of the Trust for the year ended 28[th] February 2024 which are set out on pages 4 to 7.
Respective responsibilities of the 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 year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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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
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to state whether particular matters have come to my attention.
Basis of 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 statement below.
Independent Examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
SHAILEEN SHAH (CTA, FCCA) DATE: 23-Oct-24 Magnolia House, Spring Villa Park, 11 Spring Villa Road, Edgware, HA8 7EB
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 28TH FEBRUARY 2024
Statement of financial activities
| Recommended categories by activity Incoming resources (Note 3) Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Separate material item of income Other Resources expended (Note 5) Expenditure on: Raising funds Charitable activities Separate material item of expense Other Net gains/(losses) on investments Net income/(expenditure) Extraordinary items Other gains/(losses) Reconciliation of funds: Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use Total |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ |
|---|---|---|---|---|---|
| 15 | - | - | 15 | 4,750 | |
| 750 | - | - | 750 | - | |
| 53,363 | - | - | 53,363 | 57,016 | |
| 93 | - | 93 | - | ||
| - | - | - | - | ||
| - | - | - | - | ||
| 54,221 | - | - | 54,221 | 61,766 | |
| 42,973 | - | - | 42,973 | 29,409 | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| 14,396 | - | - | 14,396 | 14,154 | |
| 57,369 | - | - | 57,369 | 43,563 | |
| (3,148) | - | - | (3,148) | 18,203 | |
| - | - | - | - | - | |
| (3,148) | 0 | 0 | (3,148) | 18,203 | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| (3,148) | 0 | 0 | (3,148) | 18,203 | |
| 587,607 | - | - | 587,607 | 569,404 | |
| 584,460 | - | - | 584,460 | 587,607 |
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST BALANCE SHEET FOR THE YEAR ENDED 28TH FEBRUARY 2024
Balance sheet
| Fixed assets Tangible assets (Note 6) Total fixed assets Current assets Debtors (Note 7) Cash at bank and in hand (Note 9) Total current assets Creditors: amounts falling due within one year (Note 8) Net current assets/(liabilities) |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ |
Unrestricted funds Restricted income funds Endowment funds Total this year Total last year £ £ £ £ £ |
|---|---|---|---|---|---|
| 467,996 | - | - | 467,996 | 480,265 | |
| 467,996 | - | - | 467,996 | 480,265 | |
| 13,500 | - | - | 13,500 | 11,100 | |
| 119,019 | - | - | 119,019 | 101,688 | |
| 132,519 | - | - | 132,519 | 112,788 | |
| 16,055 | - | - | 16,055 | 5,446 | |
| 116,464 | - | - | 116,464 | 107,342 | |
| Total net assets or liabilities | 584,460 | - | - | 584,460 | 587,607 |
| Funds of the Charity Unrestricted funds |
|||||
| 584,460 | - | 584,460 | 587,607 | ||
| Total funds | 584,460 | - | - | 584,460 | 587,607 |
| Signed by one or two trustees on behalf of all the trustees |
Signature |
Print Name | Date of approval dd/mm/yyyy |
|---|---|---|---|
| Sailesh Mehta | 23-Oct-24 | ||
| Kamalesh H. Kantaria | 23-Oct-24 | ||
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28TH FEBRUARY 2024
Notes to the accounts
Note 1 Basis of preparation
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011.
1.2 Going concern
There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern. The Trustees are confident that the organisation can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.
The Trustees have a reasonable expectation that the organisation has adequate resources to continue in operation for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in
1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period.
1.5 Material prior year errors
No material prior year error have been identified in the reporting period.
Note 2 Accounting policies
2.1 Income
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when:
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the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 28TH FEBRUARY 2024
Notes to the accounts (cont)
Grants and donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Government grants
The charity has not received government grants in the reporting period
Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Support costs
The charity has incurred expenditure on support costs.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Settlement of insurance claims
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA.
2.2 Expenditure and Liabilities
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 28TH FEBRUARY 2024
Notes to the accounts (cont)
2.3 Assets
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and are valued at cost. The depreciation rates and methods used are disclosed in note 6.2.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Note 3 Analysis of income
| Other trading activities: Income from investments: Separate material item of income: Donations and legacies: Charitable activities: |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
|---|---|---|---|---|---|---|
| Donations and gifts | 15 | - | - | 15 | 4,750 | |
| Gift Aid | - | - | - | - | - | |
| Legacies | - | - | - | - | - | |
| General grants provided by government/other charities |
- | - | - | - | - | |
| Membership subscriptions and sponsorships which are in substance donations |
- | - | - | - | ||
| Donated goods, facilities and services | - | - | - | - | - | |
| Other | - | - | - | |||
| **Total ** | 15 | - | - | 15 | 4,750 | |
| New Patrons | 750 | - | - | 750 | - | |
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Other | - | - | - | - | - | |
| **Total ** | 750 | - | - | 750 | - | |
| Hire of hall & grounds |
37,563 | - | - | 37,563 | 41,416 | |
| Rent from residential unit | 15,700 | - | - | 15,700 | 15,600 | |
| Tree planting | - | - | - | - | - | |
| Other | 100 | - | - | 100 | - | |
| **Total ** | 53,363 | - | - | 53,363 | 57,016 | |
| Interest income | 93 | - | - | 93 | - | |
| Dividend income | - | - | - | - | - | |
| Rental and leasing income | - | - | - | - | - | |
| Other | - | - | - | - | - | |
| **Total ** | 93 | - | - | 93 | - | |
| COVID 19 Grant | - | - | - | - | - | |
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Total | - | - | - | - | - | |
| TOTAL INCOME | 54,221 | - | - | 54,221 | 61,766 |
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 28TH FEBRUARY 2024
Notes to the accounts (cont)
Note 4 Analysis of receipts of government grants
| Government grant 1 Government grant 2 Government grant 3 Other Government grant 1 Government grant 2 Government grant 3 Other |
This year £ Description |
This year £ Description |
|---|---|---|
| - | ||
| - | ||
| - | ||
| Total | - | |
| Last year £ Description |
||
| - | ||
| - | ||
| - | ||
| - | ||
| Total | - |
Note 5 Analysis of expenditure
| Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
Thisyear Lastyear |
|---|---|---|---|---|---|---|---|---|
| Analysis | Unrestricted funds |
Restricted income funds |
Endowme nt funds |
Total funds | Unrestricte d funds |
Restricted income funds |
Endowme nt funds |
Total funds |
| Expenditure on raising funds: | £ | £ | ||||||
| Rent collection, property repairs and maintenance | 42,973 | - | - | **42,973 ** | 29,409 | - | - | 29,409 |
| - | - | - | - | - | - | |||
| Total expenditure on raising funds | 42,973 | - | - | 42,973 | 29,409 | - | - | 29,409 |
| Other | ||||||||
| Depreciation | 14,396 | - | - | **14,396 ** | 14,154 | - | - | 14,154 |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| Total other expenditure | 14,396 | - | - | 14,396 | **14,154 ** | - | - | **14,154 ** |
| TOTAL EXPENDITURE | 57,369 | - | - | 57,369 | 43,563 | - | - | 43,563 |
Note 6 Tangible fixed assets
Please complete this note if the charity has any tangible fixed assets
6.1 Cost or valuation
| At the beginning of the year Additions Revaluations Disposals Transfers * |
Freehold land & buildings £ |
Other land & buildings £ |
Plant, machiner y and motor vehicles £ |
Fixtures, fittings and equipment £ |
Total £ |
|---|---|---|---|---|---|
| 749,666 | - | - | 105,324 | 854,990 | |
| - | - | - | 2,127 | 2,127 | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| At end of the year | 749,666 | - | - | 107,451 | 857,117 |
6.2 Depreciation and impairments
| *Basis* Rate At beginning of the year Disposals Depreciation Impairment Transfers* |
SL | RB | SL or RB | ||
|---|---|---|---|---|---|
| 2% | 25% | ||||
| 272,886 | - | - | 101,839 | 374,725 | |
| - | - | - | - | - | |
| 12,993 | - | - | 1,403 | 14,396 | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| At end of the year | 285,879 | - | - | 103,242 | 389,121 |
| 14.3 Net book value | |||||
| Net book value at the beginning of the year | 476,780 | - | - | 3,485 | 480,265 |
| Net book value at the end of the year | 463,787 | - | - | 4,209 | 467,996 |
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Docusign Envelope ID: 0C704E28-55ED-4943-B598-65F05B0B22BA
THE RAGHUVANSHI CHARITABLE TRUST NOTES TO THE ACCOUNTS (CONT.) FOR THE YEAR ENDED 28TH FEBRUARY 2024
Notes to the accounts (cont)
Note 7 Debtors and prepayments
7.1 Analysis of debtors
| 7.1 Analysis of debtors | ||
|---|---|---|
Rent deposit Trade debtors |
This year £ |
Last year £ |
| 1,200.0 | 1,200.0 | |
| 12,300.0 | 9,900.0 | |
| Total | 13,500.0 | 11,100.0 |
| Note 8 Creditors and accruals | ||||
|---|---|---|---|---|
| 8.1 Analysis of creditors | ||||
| Trade creditors Other creditors |
This year £ |
Last year £ |
This year £ |
Last year £ |
| 13,062 | 2,100 | - | - | |
| 2,993 | 3,346 | - | - | |
| **Total ** | 16,055 | 5,446 | - | - |
Note 9 Cash at bank and in hand
| Other Short term cash investments (less than 3 months maturity date) Short term deposits Cash at bank and on hand |
This year £ |
Last year £ |
|---|---|---|
| - | - | |
| - | - | |
| 119,019 | 101,688 | |
| - | - | |
| Total | 119,019 | 101,688 |
Note 10 Transactions with trustees and related parties
10.1 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with
10.2 Trustees' expenses
No trustee expenses have been incurred
10.3 Transaction(s) with related parties
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