BPP University Business School: September 2015
BPP Coursework Cover Sheet
Please use the table below as your cover sheet for the 1st page of the submission. The sheet should
be before the cover/title page of your submission.
Programme BSc – All Programmes
Module name Commercial Awareness
QAA Level 4
Schedule Term April 2016
Student Reference Number (SRN)
Report/Assignment Title
Date of Submission
(Please attach the confirmation of any
extension received)
Declaration of Original Work:
I hereby declare that I have read and understood BPP’s regulations on plagiarism and that this is my
original work, researched, undertaken, completed and submitted in accordance with the requirements
of BPP Business School.
The word count, excluding contents table, bibliography and appendices, is ___ words.
Student Reference Number: xxxxxx Date: xx/xx/xxxx
By submitting this coursework you agree to all rules and regulations of BPP regarding assessments
and awards for programmes. Please note, submission is your declaration you are fit to sit.
BPP University reserves the right to use all submitted work for educational purposes and may
request that work be published for a wider audience.
BPP Business School
BPP University Business School: September 2015
BSc – All Programmes
COMMERCIAL AWARENESS
Coursework Assessment Brief
April 2016
Submission deadline: 11:59 PM on 26 April 2016
Submission mode: Turnitin online access
BPP University Business School: September 2015
1. General Assessment Guidance
Your summative assessment for Commercial Awareness is a Coursework submission.
The deadline for submission is 11:59 PM on 26th April 2015
You are required to submit your assessment via Turnitin online access. Only submissions made
via the specified mode will be accepted and hard copies or any other digital form of submissions
(like via email or pen drive etc.) will not be accepted.
For coursework, the submission word limit is 1,500 words. You must comply with the word count
guidelines. You may submit LESS than 1,500 words but not more. Tables, diagrams,
bibliography, appendices, annex and headings are NOT included within word count calculations.
You must specify total word count on the front page of your report. Please note that appendices
and bibliography will not be awarded marks. They are simply to enhance the professionalism of
your answer.
For coursework, please use font size 12 for body text and the typeface (font) should be Arial or
Times New Roman with minimum 1.5 spacing.
For headers and titles, please use font size 14. Your submission must have standard margins and
page numbers.
Please use English (UK) as your language in the submission.
Do not put your name or contact details anywhere on your submission. You should only put your
student identification number (SRN) which will ensure your submission is recognised in the
marking process.
A total of 100 marks are available for this module assessment and you are required to achieve
minimum 40% to pass this module.
You are required to use only Harvard Referencing System in your submission. Any content which
is already published by other author(s) and is not referenced will be considered as a case of
plagiarism.
You can find further information on Harvard Referencing in the online library on the VLE. You can
use the following link to access this information:
http://my.bpp.com/vle/mod/data/view.php?d=223&rid=596
BPP University has a strict policy regarding plagiarism and in proven instances of plagiarism or
collusion, severe punishment will be imposed on offenders. You are advised to read the rules
BPP University Business School: September 2015
and regulations regarding plagiarism and collusion in the GAR and MOPP which are available on
VLE in the Academic registry section.
You should include a completed copy of the Assignment Cover sheet. Any submission without
this completed Assignment Cover sheet will be considered invalid and not marked.
2. Assessment Brief
IMPORTANT POINTS TO NOTE
You must submit a Word document (NOT PDF) via the turnitin link.
Do not include in appendices any work you wish the marker to consider as part of your answer. The
markers will NOT read appendices.
USE OF EXCEL
You may use excel to support your workings. However please take note of the following points:
1. You must NOT submit an excel file. It will not be considered by the markers.
2. You may NOT ‘embed’ excel files into the Word document. If you are unsure what is meant
by this see: https://support.office.com/en-us/article/Link-or-embed-an-Excel-worksheet-
41bf021e-ba7c-44ef-9914-0d7e88062257
3. You may copy and paste workings from excel into your Word submission. However the
layout must be such that the markers can understand your calculations. In other words do
not simply copy a series of calculations. You must include explanations of each step of your
workings. Failure to do so will result in a significant loss of marks.
2.1. Case Study
CASE STUDY – ALCHIMIST LTD
Background
Alchimist Ltd
Michelle Goldsmith is the Managing Director of Alchimist Ltd, a small private limited company, which
is seeking someone to invest in her business. Alchimist has been trading for more than 10 years
manufacturing and selling its own-branded perfumes, lotions and candles to the public in its 15 retail
stores and to other larger retail companies. Revenue and profits have been steady over the last 10
years up to the end of 2014.
BPP University Business School: September 2015
In July 2014 the company appointed a new sales director, Karin Stewart, who with her experience
and contacts in the wider retail sector has overseen the launch of an on-line shop for Alchimist’s
products and secured a lucrative deal with a hotel chain.
Michelle now believes that the business has further opportunities and does not wish to lose the
momentum created by Karin. One of her plans for the future involves implementing a graduate
trainee scheme to establish a clear leadership and promotion structure within the company, and the
company is also branching out by producing a new perfume, “Michelle”, which is in the final stages
of development.
The bank that currently provides both the long-term loan and an overdraft facility has rejected
Alchimist’s request for extra funding on the basis that there are insufficient assets to offer for
security (the existing funding is secured on Alchimist’s property, plant and equipment). Michelle has
therefore approached a business contact, Seth Thacker, about potentially investing in Alchimist.
Redstone Investments (known as Redstone)
Seth Thacker owned a highly successful technology business which he sold five years ago for £20
million. With the proceeds he then set up an investment company (Redstone) that invests primarily
in smaller private businesses in need of short to medium term funding. Seth sits on the board as a
non-executive director of a number of the entities that his business has invested in, and is often able
to offer valuable business advice to these entities, especially in the area of research and
development activities.
Your role
As a member of Redstone’s investment management team, you have been asked to analyse the
financial performance and position of Alchimist and produce a report for Seth which sets out your
findings and makes a recommendation as to whether this request for investment should be
approved or rejected.
You have also been asked by Michelle to produce a separate, independent report for her, covering a
number of issues facing the business.
To assist you with this task you have been provided with a pack of information as follows:
Exhibit 1: Extracts from Alchimist’s Financial Statements for 2015, including the Statement of Profit
or Loss, Statement of Financial Position and Statement of Cash Flows.
Exhibit 2: Additional Financial information which supports the Financial Statements in Exhibit 1.
Exhibit 3: Key ratio analysis for 2014 and 2015 of Alchimist’s financial statements.
Exhibit 4: Your notes from various discussions held with employees and directors of Alchimist.
Exhibit 5: A briefing note from Seth Thacker (Redstone) setting out how they will invest in Alchimist
if they decide to proceed.
BPP University Business School: September 2015
Exhibit 1: Extracts from Alchimist Ltd’s Financial Statements for 2015
Alchimist Ltd
Statement of profit or loss for the year ended 31 December 2015
2015 2014
£’000 £’000
Revenue 6,000 3,700
Cost of Sales (4,083) (2,590)
Gross profit 1,917 1,110
Overheads
Adminstration expenses (670) (413)
Distribution costs (664) (356)
Operating Profit 583 341
Finance costs (43) (34)
Profit before tax 540 307
Income tax expense (135) (80)
Profit for the period 405 227
BPP University Business School: September 2015
Alchimist Ltd Statement of Financial Position as at 31 December 2015
2015 2014
ASSETS £’000 £’000
Non-current Assets
Property, plant and Equipment 380 400
Development costs 20 10
400 410
Current Assets
Inventories 1050 980
Trade and other receivables 455 310
Cash and cash equivalents 0 42
Total current assets 1505 1332
Total Assets 1905 1742
LIABILITIES
Non-current Liabilities
Long -term borrowings 412 404
Current Liabilities
Trade payables 363 378
Bank overdraft 68 0
Total current liabilities 431 378
Total liabilities 843 782
Net assets (Assets – Liabilities) 1062 960
Equity
Share Capital 550 550
Retained Earnings 512 410
Total equity 1062 960
BPP University Business School: September 2015
Alchimist Ltd Statement of Cash flows for the year ended 31 December 2015
2015 2014
£’000 £’000 £’000 £’000
Cashflows from operating activities
Operating profit 583 341
Adjustments for:
Depreciation and Amortisation 40 52
623 393
Increase in inventories (70) (8)
Increase in receivables (145) (4)
Increase/(Decrease) in payables (15) 7
Cash generated from operations 393 388
Interest paid (43) (34)
Income tax paid (135) (80)
Dividend paid (303) (150)
Net cash flow from operations (88) 124
Cashflows from investing activities
Purchase of Property, Plant & Equipment (50) (35)
Investment in product development (10) 0
Proceeds from sale of PPE 30 0
Net cash flow from investing activities (30) (35)
Cashflows from financing activities
Proceeds from issue of share capital 0 0
Proceeds from long-term borrowing 50 0
Repayment of long-term borrowing (42) (73)
Net cash flows from financing activities 8 (73)
Net increase/(decrease) in cash (110) 16
Cash and cash equivalents at start of year 42 26
Cash and cash equivalents at end of year (68) 42
BPP University Business School: September 2015
Exhibit 2: Additional financial information which supports the
Financial Statements (set out in Exhibit 1)
Note 1 – Segmental Analysis (for year ending 31.12.15 only)
Retail Online Hotel
Operations Store Contract
£’000 £’000 £’000
Revenue 4004 1096 900
Gross Profit 1200 330 387
Administration expenses -455 -110 -105
Distribution costs -382 -82 -200
Operating profit 363 138 82
Note 2 – Extract of supporting notes for the Statement of profit or loss
2015 2014
£’000 £’000
Administration expenses
Employee expenses 350 200
Directors’ remuneration 130 90
Operating rental payments 90 25
Utility costs 34 29
Depreciation & Amortisation charges 40 52
Legal & professional fees 5 5
Sundries 21 12
670 413
Distribution costs
Distribution & transport costs 302 183
Royalties 200 0
Marketing and advertising costs 145 152
Other distribution costs 17 21
664 356
BPP University Business School: September 2015
Note 3 – Extract of supporting notes for the Statement of Financial Position
Statement of Changes in Equity (Extract) 2015 2014
Retained Earnings only £’000 £’000
Opening balance 410 333
Profit for the year 405 227
Dividend paid -303 -150
Closing balance 512 410
BPP University Business School: September 2015
Exhibit 3: Key ratio analysis for 2014 and 2015
Profitability 2015 2014
ROCE Operating profit 583 x100 = 37.81 % 341 x100 = 25.00 %
Equity + debt* 1062 + 480 960 + 404
Gross margin
Gross profit 1917 x100 = 31.95 % 1110 x100 = 30.00 %
Revenue 6000 3700
Net (operating) margin
Operating profit 583 x100 = 9.72 % 341 x100 = 9.22 %
Revenue 6000 3700
BPP University Business School: September 2015
Payable days
Payables x365 363 x 365 = 32.45 378 x 365 = 53.27
Cost of sales 4083 2590
Solvency
Gearing
Debt* 480 x 100 = 31.13 % 404 x 100 = 29.62 %
Debt* = Equity 480 + 1062 404 + 960
Interest cover
Operating profit 583 = 13.56 341 = 10.03
Finance costs 43 34
* includes the bank overdraft
Liquidity
Current ratio
Current assets (CA) 1505 = 3.49 1332 = 3.52
Current liabilities 431 378
Quick ratio
CA – inventories 1505 – 1050 = 1.06 1332 – 980 = 0.93
current liabilities 431 378
Inventory days
Inventories x365 1050 x 365 = 93.86 980 x 365 = 138.11
Cost of sales 4083 2590
Receivable days
Receivables x365 455 x 365 = 27.68 310 x 365 = 30.58
Revenue 6000 3700
BPP University Business School: September 2015
Exhibit 4: Your notes from various discussions with directors and employees
of Alchimist.
As part of the due diligence checks Redstone is undertaking for this potential investment in
Alchimist, Michelle has provided you access to various Alchimist employees to learn more about the
company. Extracts from those discussions are attached below:
Notes from discussion with the Sales director Karin Stewart, which covers the two new business
segments in 2015.
On-line store
• We developed the infrastructure for the on-line store during the first few months of 2015 with the
website going live at the start of April 2015. Sales have been in line with target across the first 9
months of operations.
• We were able to secure long-term debt funding from the bank which we were able to invest in the
infrastructure for this project which was mainly Information Technology assets (mostly hardware
such as networks and servers) and additional office space to accommodate the new teams (noted
below).
• At this stage the selling price and costs of making our products have remained the same across the
retail and online operations. The main difference has been around infrastructure costs (which is
reflected in the segmental analysis costs in Exhibit two for the online store):
o We have incurred additional costs in employing staff to help maintain the website and
general on-line environment, along with additional people to increase our capacity within
customer services (to deal with any on-line issues our customers might experience).
o As customers no longer pick the products up directly we have needed to put a distribution
arrangement in place with a national company to deliver the products to their door.
o These additional costs have been more than offset by not needing incur the usual overhead
costs associated with significant additional sales that we see in retail including rent, rates,
marketing and additional shop staff.
Hotel chain contract
• I was able to use prior contacts to secure a lucrative 10 year deal with a boutique hotel chain,
Bagnolo Hotels (Bagnolo), for Alchimist to manufacture products for the hotel, carrying the hotel
chain name and logo.
o The contract commenced in January 2015
o The agreement is based on a range of our products being labelled with the hotel’s branding,
which we then sell through their hotel chains, online and through our retail stores. We get to
retain all the revenue earned on products sold but in exchange we pay Bagnolo a royalty for
using their brand name.
o Because of the hotel’s branding we are able to charge a premium price on the products
supplied. For instance one of our main products (Tincture) which costs us £35 to produce
would normally sell for £50 but with the Bagnolo logo attached we can now sell at £62.
• As with the online shop, this contract also had an impact on our cost base (which is reflected in the
segmental analysis costs in Exhibit 2 for the hotel contract).
BPP University Business School: September 2015
o We rented additional machinery which attaches the Bagnolo logo to the products, the rental
being on the same terms as the contract (10 years).
o We hired an administrator to oversee and co-ordinate the contract.
o The level of Royalty agreed and paid in 2015 was £200,000.
Notes from discussion with the Warehouse/logistics manager which covers inventory and
suppliers.
• When considering the characteristics of the products we hold as inventory:
o They are not perishable like food, so quick turnaround is not essential;
o They are not products which customers buy on a daily basis so can be on our shelves for
some time;
o They are considered as fashionable products which raises a question about what happens to
products which ‘go out of fashion’ and means that it is important we continue to develop
and innovate new products.
• We have good business relationships with our present suppliers but at present they were unable
to cope with the additional demand arising from the new areas of business. This has meant we have
needed to source new suppliers to cover this gap in supply.
Notes from discussion with the financial controller which covers financial matters not raised in the
interviews above.
• The segmental analysis provided in Exhibit 2 includes an allocation of administrative and
distribution costs across the various business segments. It should be noted that the costs under the
online store and hotel contract columns relate to the additional costs the company is now incurring
across these new business segments (as explained by Karin above), and there has been no attempt
at this stage to reallocate existing costs (which sit in the retail operations column) across all business
segments.
• When considering how we manage our cash position, we are fortunate that most of our customers
are retail or on-line who pay at the time of sale. Our receivables mainly arise from businesses we
supply goods to and our usual payment terms are 30 days from date of invoice.
• In negotiating the contract with Bagnolo we were fortunate in negotiating preferable payment
terms reduced to 21 days when agreeing the distribution fee (discussed with Karin above).
• The good supplier relations noted above have meant we have been able to negotiate some
preferable payment terms (an extended period of credit) with our existing suppliers, but we don’t
have the same level of history and trust with our new suppliers so we are not yet in a position to
negotiate similar terms.
• Though the bank has not had any issues with our ability to pay off the loans previously issued,
since the financial crisis they have become concerned with the level of assets we can provide as
security over their loans. We have therefore been trying to use cash flow over the last couple of
years to pay off the loans faster than anticipated. This reduction meant that the bank was willing to
provide some additional finance to help fund the projects noted by Karin, but the interest charged
on this new debt was higher than the present loans held (because it was unsecured debt). The bank
is unwilling to provide extra loans to finance the expansion of the company in the future.
BPP University Business School: September 2015
Notes from discussion with the Managing director Michelle Goldsmith, covering various strategic
matters.
• In bringing in Karin as Sales Director, I provided her with some of my share equity in the company.
Where previously I was the 100% shareholder of Alchimist, I transferred 25% of the shares to Karin
(this was a transaction between me and Karin and therefore there was no impact on the company’s
share capital). So the present shareholdings in Alchimist are 75% for me and 25% for Karin.
• Basic annual salaries are £80k for Karin and £50k for me, which have not been increased following
the growth in the company during 2015. This is on the basis that we want to ensure that evenue
growth is translated into increased profit, from which we then take an increased overall dividend
allocated on present shareholdings.
• Though Seth has not yet decided whether to invest in the company, he has already provided me
with some really useful insights, particularly around how, as the company grows, it will need to
improve its corporate governance structures. Matters we discussed include:
o A condition of Redstone’s investment would be that Alchimist has an annual external audit
of their financial statements (they are presently below the exemption limits to require this
by law)
o With Redstone specialising in supporting businesses in the short to medium term, the usual
strategy for them to ‘realise’ their investment (effectively exit from the business and ensure
they make a profit on their initial investment) is for the company to float their shares by
becoming a public limited company (“plc”). To prepare for that transition, Seth is keen to see
company’s set up governance arrangements which comply with the UK corporate
governance code. The main issues arising from considering how we go about this include:
o Whether, in my capacity as managing director, I am able to take on a joint role of Chair and
Chief Executive.
o What the benefits are of having non-executive directors on the company board.
o Since Karin is such a key factor in our present and future success at Alchimist, how do we go
about putting in place a remuneration package that reflects this and motivates her to stay
with Alchimist for at least the medium term.
BPP University Business School: September 2015
Exhibit 5: A briefing note from Seth Thacker (Redstone) setting out how they
will invest in Alchimist if they decide to proceed.
To: Investment Management Team, Redstone Investments
From: Seth Thacker, CEO Redstone Investments
Date: 20 January 2016
Subject: funding options for the Alchimist Ltd Investment
I look forward to receiving the report on whether you believe that Alchimist Ltd would be a good
investment for us.
Having spoken to Michelle I think we would be looking to invest £500,000 with the intention that the
funds will be used across the next 12-18 months to fund an expansion of the company’s retail
operations into overseas markets outside the UK.
The method of investing the £500,000 including its initial impact on Alchimist’s Statement of
Financial Position (SOFP) are set out below.
Method of Investment Initial Impact on Alchimist’s SOFP
We will provide the £500,000 of funding
through purchasing share capital (via a new
share issue by Alchimist.) This will result in
Redstone owning a 47.6% ownership stake in
the company.
The £500,000 proceeds will be used to clear the
bank overdraft and the remaining funds will go
into their cash and cash equivalents (ready for
investment in overseas operations).
The £500,000 will be recognized as an increase
in the present level of share capital (increasing
it from its current £550,000).
BPP University Business School: September 2015
2.2. Questions
Question 1 – Graduate trainee scheme (Total of 21 marks for this section)
a) Identify and discuss TWO skills and attributes that Michelle would consider essential
requirements in the applicants selected for the graduate trainee scheme.
(6 marks)
b) Michelle would like the trainees to experience a variety of roles within the business. To help
her draw up the job specification, choose THREE operational areas of Alchimist from the
following list:
Manufacturing
Finance
Sales and Marketing
Human Resources
Research and Development
Information Technology
For each of them:
Explain the function of this area
(6 marks)
Explain why it is important to Alchimist in particular.
(9 marks)
Question 2 – Business structure and corporate governance (Total of 23 marks for this section)
a) Alchimist is currently a Limited Liability (Ltd) company. Explain what is meant by ‘Limited
Liability’ in this context, and how this differs from a sole trader company.
(3 marks)
Redstone will be hoping that the company will be able to become a Public Limited Company
(PLC) in a few years’ time. Explain the difference between a Ltd company and a PLC.
(2 marks)
Redstone has stated that it would like Alchimist to have an audit each year, despite not being
required to do so by law.
b) Explain the purpose of an audit and why an investor like Redstone would like the company
to have one.
(3 marks)
BPP University Business School: September 2015
Consider the comments made by Michelle Goldsmith in Exhibit 4 in regard to Redstone’s
expectations of Alchimist’s corporate governance arrangements.
c) Identify and explain ONE benefit and TWO drawbacks of Michelle taking on the joint role of
Chief Executive and Chairman of Alchimist (assuming the company becomes a PLC in the
future).
(6 marks)
d) Describe TWO benefits of having non-executive directors on Alchimist’s Board
(4 marks)
e) In considering the remuneration package for the Sales Director of Alchimist:
State the name of the committee Alchimist should put in place to decide the
package, and who should sit on it.
(2 marks)
Explain a KEY feature that any future remuneration package should contain.
(3 marks)
Question 3 – Overseas expansion (Total of 27 marks for this section)
One of the main reasons that Alchimist is seeking additional investment is that it would like to
expand overseas in the next few years.
a) Identify ONE global institution that has been established to help companies to trade with
companies and consumers in other countries, and briefly explain what it does.
(3 marks)
b) Identify and discuss THREE cultural issues that Alchimist will have to take into consideration
when trading overseas, or setting up an overseas operation in a foreign country of your choice.
(9 marks)
c) Discuss how Alchimist might best deal with these issues to ensure that the company can be
successful in this different country.
(6 marks)
d) As part of a PESTLE analysis, identify and discuss THREE political factors in this country that may
have an influence on Alchimist’s plans.
(9 marks)
Question 4 – Marketing (Total of 24 marks for this section)
Michelle is very excited about the launch of the company’s new perfume “Michelle”. She would like
some recommendations as to how best to market the product, in order to secure the maximum
sales.
a) In terms of marketing, explain what is meant by the “Four P’s”, giving examples.
(12 marks)
BPP University Business School: September 2015
b) Recommend THREE different ways in which Alchimist could choose to market the new
perfume, explaining at least one benefit and one drawback of each method.
(12 marks)
Question 5 – Professional Format (Total of 5 marks for this section)
You should present your answer in the form of a professional report. This means that you should
include
a) An executive summary that briefly presents the findings of the report
(2 marks)
b) Professional layout:
A title page
Addressed to Michelle
A table of contents
Clear headings for each section
Proper referencing using the Harvard convention, if you have used the work
of another person.
(3 marks)
2.3 Assessment Submission Structure
Though the case study is identical for both Understanding Financial Statements and Commercial
Awareness, it is important that you produce TWO SEPARATE REPORTS and submit each one to the
relevant module. DO NOT COMBINE your reports into a single submission.
Each report has a 1500 word limit, so though this is 3000 words in total across the two modules you
need to keep within the 1500 word parameter for EACH report (for example, you can’t do 2000
words on your CA report and 1000 on the UFS report as you will then be breaching the word count
on CA).
As noted in section 2.2, you are required to put your answer in the format of a professional business
report. (For which 5 marks are available) In terms of what we would expect to see in that format, it
should include:
A completed coversheet – as noted in section 1 but this would not be part of your report
A heading page which sets out who it is to, from (but don’t put your real name, just use your
SRN), a date and a title.
An executive summary – which BRIEFLY sets out the main findings of your report
Headings with subsections – the question structure in section 2.2 can act as a guide. Within
these subsections we would expect to see:
o Paragraphs, not large blocks of writing
BPP University Business School: September 2015
o References (if required). Much of your data will come from the case study which
you do NOT need to reference.
2.4 Marking guide
Question Number Marks available Approach recommended
1 – Graduate scheme 21 This question covers material studied in week
2.
You should consider the fact that these
positions are for young people who have just
left university, and discuss what an employer
would be looking for.
2 – Corporate governance 23 `This question covers material studied in
weeks 3 and 6
Alchimist is a UK company and would be
listed on the London Stock Exchange if it
became a PLC. You should therefore consider
the UK code on corporate governance when
answering this question.
3 – Overseas expansion 27 This question covers material studied in
weeks 1 and 7.
You have some scope in this question, as it is
not specified which countries Alchimist is
thinking of trading with or setting up in. This
means that you can focus on any non-UK
country you want to when considering
potential cultural issues.
In discussing political factors, try and identify
those that will particularly affect Alchimist,
BPP University Business School: September 2015
rather than simply identifying political factors
in general.
4 – Marketing 24 This question covers material studied in
weeks 8 and 9.
The first part of the question should be fairly
straightforward in explaining the ‘Four P’s’.
The second part of the question gives you a
chance to put yourself in the position of the
marketing manager, and consider how you
would best market this new product.
5 – Professional Format 5 You should try and make your report as clear
and concise as possible. Using clear headings
helps ‘signpost’ your answer and makes it
easier for the marker to follow what you have
done.
There are two marks for the executive
summary, so please ensure that you include
one. An introduction and conclusion are not
required.
If you use the work of other people, you must
reference their work to acknowledge their
work and enable the marker to look up the
reference if he wants to.
Total 100
TAKE ADVANTAGE OF OUR PROMOTIONAL DISCOUNT DISPLAYED ON THE WEBSITE AND GET A DISCOUNT FOR YOUR PAPER NOW!