MAPLE (HADLEIGH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Maple (Hadleigh) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA.
The principal trading address is Linden Square, 146 Kings Road, Bury St Edmunds, IP33 3DJ.
The Company's functional and presentational currency is GBP.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover comprises the proceeds of sale of development property recognised by the Company during the year, exclusive of Value Added Tax.
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STOCKS AND WORK IN PROGRESS
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Stocks are valued at the lower of cost and net realisable value and comprise development property and associated costs capitalised and carried forward under ongoing projects.
Capitalised development costs are written off to the profit and loss account in the period in which losses are first foreseen.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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