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REGISTERED NUMBER: 02516777 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PIPERS NEWS STORES LIMITED

PIPERS NEWS STORES LIMITED (REGISTERED NUMBER: 02516777)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PIPERS NEWS STORES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D G Piper
M J Cleary





SECRETARY: M J Cleary





REGISTERED OFFICE: Unit 5
Hargreaves Business Park
Hargreaves Road
Eastbourne
East Sussex
BN23 6QW





REGISTERED NUMBER: 02516777 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

PIPERS NEWS STORES LIMITED (REGISTERED NUMBER: 02516777)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 153,855 161,685
Tangible assets 5 255,693 377,439
409,548 539,124

CURRENT ASSETS
Debtors 6 697,319 664,052
Cash at bank and in hand 71,642 27,599
768,961 691,651
CREDITORS
Amounts falling due within one year 7 (906,056 ) (867,783 )
NET CURRENT LIABILITIES (137,095 ) (176,132 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,453

362,992

PROVISIONS FOR LIABILITIES (54,000 ) (86,205 )
NET ASSETS 218,453 276,787

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 168,453 226,787
SHAREHOLDERS' FUNDS 218,453 276,787

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





M J Cleary - Director


PIPERS NEWS STORES LIMITED (REGISTERED NUMBER: 02516777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Pipers News Stores Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is capitalised in the accounts immediately upon acquisition and is amortised over its expected useful economic life. The amount attributed to goodwill is the difference between the fair value of the consideration given and the fair value of the separable net assets acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17.

PIPERS NEWS STORES LIMITED (REGISTERED NUMBER: 02516777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Going concern
The company meets its day-to-day working capital requirements through its bank facilities. The company's forecasts and projections, taking account of any plausible change in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future whilst also having the full support of the parent company. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 1,207,145
Additions 77,630
At 31 December 2023 1,284,775
AMORTISATION
At 1 January 2023 1,045,460
Charge for year 85,460
At 31 December 2023 1,130,920
NET BOOK VALUE
At 31 December 2023 153,855
At 31 December 2022 161,685

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 35,261 526,408 34,747 596,416
Additions 4,905 39,562 - 44,467
Disposals - (70,436 ) - (70,436 )
At 31 December 2023 40,166 495,534 34,747 570,447
DEPRECIATION
At 1 January 2023 16,312 167,918 34,747 218,977
Charge for year 8,304 122,080 - 130,384
Eliminated on disposal - (34,607 ) - (34,607 )
At 31 December 2023 24,616 255,391 34,747 314,754
NET BOOK VALUE
At 31 December 2023 15,550 240,143 - 255,693
At 31 December 2022 18,949 358,490 - 377,439

PIPERS NEWS STORES LIMITED (REGISTERED NUMBER: 02516777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 503,922 439,877
Other debtors 137,005 141,227
VAT 20,862 43,156
Prepayments 35,530 39,792
697,319 664,052

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 121,287 159,691
Amounts owed to group undertakings 661,671 554,260
Tax 34,250 45,000
Social security and other taxes 11,297 12,403
Other creditors 46,437 57,377
Accrued expenses 31,114 39,052
906,056 867,783

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 38,614 37,026
Between one and five years 4,978 33,979
43,592 71,005

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Christopher Harris (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate parent company is T. Cox and Son Limited, a company registered in England and Wales.
In both the current and previous year, the parent company T.Cox and Son Limited, was under the control of R D Piper and D G Piper. D G Piper is also a director of T. Cox and Son Limited.