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Advance payment refund?

The other week I agreed to hire a bouncy castle online. I paid the full amount at the time on the company website of £120. A couple of days later I had to cancel due to a change of plans. The company were very quick in responding to my cancellation by informing me that as per their T&C's there will be no refund of any amount. Is that really allowed? Just seems a little harsh to me? Or should they refund at least some of it? 

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