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MAPLETON AUDIO LIMITED

Registered Number
06572827
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

MAPLETON AUDIO LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

TOFT, Malcolm Frank

Company Secretary

TOFT, Malcolm Frank

Registered Address

5 Pellew Arcade, Teign Street
Teignmouth
TQ14 8EB

Registered Number

06572827 (England and Wales)
MAPLETON AUDIO LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3129162
Investments410,000-
10,129162
Current assets
Stocks58,25010,250
Debtors1,456-
Cash at bank and on hand68,24764,429
77,95374,679
Creditors amounts falling due within one year6(14,408)(20,989)
Net current assets (liabilities)63,54553,690
Total assets less current liabilities73,67453,852
Creditors amounts falling due after one year7(5,667)(7,515)
Net assets68,00746,337
Capital and reserves
Called up share capital100100
Profit and loss account67,90746,237
Shareholders' funds68,00746,337
The financial statements were approved and authorised for issue by the Director on 20 November 2024, and are signed on its behalf by:
TOFT, Malcolm Frank
Director
Registered Company No. 06572827
MAPLETON AUDIO LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 233,1623,162
At 30 April 243,1623,162
Depreciation and impairment
At 01 May 233,0003,000
Charge for year3333
At 30 April 243,0333,033
Net book value
At 30 April 24129129
At 30 April 23162162
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions10,00010,000
At 30 April 2410,00010,000
Net book value
At 30 April 2410,00010,000
At 30 April 23--

Notes

1Investments in group undertakings and participating interests
5.Stocks

2024

2023

££
Finished goods8,25010,250
Total8,25010,250
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,308-
Bank borrowings and overdrafts1278,914
Taxation and social security10,29410,394
Accrued liabilities and deferred income1,6791,681
Total14,40820,989
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,6677,515
Total5,6677,515
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
TOFT, Malcolm Frank8,914(8,787)0127
8,914(8,787)0127