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Registered number: 12266782
Maple 10 Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mrs Hayley Graffato
Mr James Norman
Company Number 12266782
Registered Office 74a High Street
Wanstead
London
E11 2RJ
Accountants Edge Accounting & Taxation LLP
ICAEW
69 Broadmeads
Ware
Hertfordshire
SG12 9HX
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Page 2
Balance Sheet
Registered number: 12266782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 550,000 550,000
550,000 550,000
CURRENT ASSETS
Debtors 5 1,430 2,210
Cash at bank and in hand 294 773
1,724 2,983
Creditors: Amounts Falling Due Within One Year 6 (192,457 ) (180,582 )
NET CURRENT ASSETS (LIABILITIES) (190,733 ) (177,599 )
TOTAL ASSETS LESS CURRENT LIABILITIES 359,267 372,401
Creditors: Amounts Falling Due After More Than One Year 7 (126,030 ) (143,631 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (41,839 ) (41,839 )
NET ASSETS 191,398 186,931
CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 12 178,368 178,368
Profit and Loss Account 12,930 8,463
SHAREHOLDERS' FUNDS 191,398 186,931
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Norman
Director
23/07/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Maple 10 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12266782 . The registered office is 74a High Street, Wanstead, London, E11 2RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 550,000
The investment property was valued on a fair value basis on 31 October 2024 by the directors
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,430 2,210
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 13,327 9,054
Other creditors 177,346 169,140
Taxation and social security 1,784 2,388
192,457 180,582
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 126,030 143,631
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 139,357 152,684
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 41,839 41,839
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 November 2023 Amounts advanced Amounts repaid Amounts written off As at 31 October 2024
£ £ £ £ £
Mrs Hayley Graffato (79,472 ) (2,052 ) - - (83,224 )
Mr James Norman (79,472 ) (2,052 ) - - (83,225 )
The above loan is unsecured, interest free and repayable on demand.
12. Reserves
Fair Value Reserve
£
As at 1 November 2023 178,368
As at 31 October 2024 178,368
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