|                                      |
|--------------------------------------|
| Total                                |
| 530,096                              |
| (9,500)                              |
| 118,577                              |
| I minus E profit                     |
| (A1)                                 |
|                                      |
| Ignore minimum profits charge        |
| Add BLAGAB non-taxable distributions |
|                                      |
|                                      |
|                                      |
|                                      |
| 639,173                              |
| Adjusted I- E profit /               |
| excess BLAGAB                        |
| expenses                             |
|                                      |
|                                      |
| BLAGAB trade profit                  |
| (A4)                                 |
|                                      |
| Less BLAGAB trade loss b/f           |
|                                      |
| 650,273                              |
| (1,600)                              |
|                                      |
| Adjusted BLAGAB                      |
| trade profit                         |
|                                      |
|                                      |
|                                      |
| 648,673                              |
|                                      |
| (A1)                                 |
|                                      |
| 9,500                                |
| 1                                    |
|                                      |
|                                      |
| Minimum profits charge               |
|                                      |
| Compare the                          |
| adjusted BLAGAB                      |
| trade profit with                    |
| adjusted I- E profit                 |
|                                      |

1 The minimum profits charge is carried forward to the next accounting period as an excess management expense 

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1