(Solution) - a You are required to prepare a value added statement -(2025 Original AI-Free Solution)

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(a) You are required to prepare a value added statement to be included in the corporate report of Hythe plc for the year ended 31 December 20X6, including the comparatives for 20X5, using the information given below:

(b) Although value added statements were recommended by The Corporate Report, as yet there is no accounting standard related to them. Explain what a value added statement is and provide reasons as to why you think it has not yet become mandatory to produce such a statement as a component of current financial statements either through a Financial Reporting Standard or companylaw.